Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells 45,000 Shares

Key Points

• Director De Lima Filho Pedro Batista sold 45,000 AXIA shares on August 12 at an average price of $9.63, generating $433,350 and reducing his holdings by 10.96% to 365,585 shares.
• The sale follows a broader pattern of insider selling, including sales of 136,200 shares on August 7 and several larger disposals since June, partially offset by purchases on August 7 and July 1.
• AXIA traded at $10.22, with analysts collectively assigning the stock a “Hold” rating. The company has a $28.94 billion market capitalization and institutional investors own 2.64% of its shares.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 45,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $9.63, for a total transaction of $433,350.00. Following the transaction, the director owned 365,585 shares in the company, valued at approximately $3,520,583.55. This trade represents a 10.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

De Lima Filho Pedro Batista also recently made the following trade(s):

• On Friday, August 7th, De Lima Filho Pedro Batista sold 136,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.27, for a total transaction of $1,398,774.00.
• On Friday, August 7th, De Lima Filho Pedro Batista bought 85,200 shares of Brazilian Electric Power stock. The shares were bought at an average price of $10.25 per share, for a total transaction of $873,300.00.
• On Wednesday, July 8th, De Lima Filho Pedro Batista sold 293,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.04, for a total transaction of $2,943,728.00.
• On Friday, July 3rd, De Lima Filho Pedro Batista sold 255,800 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.38, for a total value of $2,655,204.00.
• On Wednesday, July 1st, De Lima Filho Pedro Batista sold 800,000 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.24, for a total value of $8,192,000.00.
• On Wednesday, July 1st, De Lima Filho Pedro Batista bought 362,600 shares of Brazilian Electric Power stock. The shares were purchased at an average price of $10.26 per share, with a total value of $3,720,276.00.
• On Monday, June 29th, De Lima Filho Pedro Batista sold 478,900 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.55, for a total value of $5,052,395.00.
• On Wednesday, June 17th, De Lima Filho Pedro Batista sold 460,000 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.16, for a total value of $4,673,600.00.
• On Monday, June 15th, De Lima Filho Pedro Batista sold 597,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.13, for a total value of $6,052,675.00.
• On Wednesday, June 10th, De Lima Filho Pedro Batista sold 30,200 shares of Brazilian Electric Power stock. The stock was sold at an average price of $9.59, for a total value of $289,618.00.

Brazilian Electric Power Price Performance

AXIA stock remained flat at $10.22 during midday trading on Friday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.52. Brazilian Electric Power Co has a 12-month low of $7.55 and a 12-month high of $13.54. The firm has a market cap of $28.94 billion, a price-to-earnings ratio of 56.78, a PEG ratio of 3.07 and a beta of 0.47. The stock has a 50 day moving average price of $10.24.

Analysts Set New Price Targets

A number of analysts have commented on AXIA shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Brazilian Electric Power in a report on Monday, July 6th. Wall Street Zen lowered Brazilian Electric Power from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Brazilian Electric Power currently has an average rating of "Hold".

Institutional Investors Weigh In On Brazilian Electric Power

Institutional investors have recently made changes to their positions in the stock. Traveka Wealth LLC acquired a new position in Brazilian Electric Power in the 1st quarter valued at $118,000. Bank of New York Mellon Corp acquired a new stake in shares of Brazilian Electric Power during the 1st quarter worth $150,000. Sequoia Financial Advisors LLC increased its position in shares of Brazilian Electric Power by 4.5% in the first quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company's stock worth $210,000 after purchasing an additional 802 shares during the period. Sanctuary Advisors LLC increased its position in shares of Brazilian Electric Power by 28.2% in the first quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company's stock worth $248,000 after purchasing an additional 4,834 shares during the period. Finally, Walleye Capital LLC acquired a new position in Brazilian Electric Power in the first quarter valued at about $274,000. 2.64% of the stock is currently owned by institutional investors.

Brazilian Electric Power Company Profile

Centrais Elétricas Brasileiras SA - Eletrobras, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through hydroelectric, thermal, nuclear, wind, and solar plants. As of December 31, 2020, it owned and operated 31 hydroelectric plants with a total installed capacity of 50,648 megawatts; seven thermal plants, including coal, and oil and gas power generation units with a total installed capacity of 1,595 megawatts; and two nuclear power plants comprising Angra I with an installed capacity of 640 megawatts and Angra II with an installed capacity of 1,350 megawatts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source