Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells 555,300 Shares of Stock

Key Points

• Director De Lima Filho Pedro Batista sold 555,300 shares of Brazilian Electric Power on June 1 at an average price of $9.88, bringing in about $5.49 million. After the sale, his stake fell by 82.22% to 120,100 shares.
• The filing shows a pattern of heavy insider trading in recent days, including multiple large share sales on May 11, 13, 15, 18, 20, 22, 25, and 29, along with a few purchases.
• AXIA shares were down 3.2% to $10.02 in Wednesday trading, while analysts currently have a Hold consensus rating on the stock.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 555,300 shares of Brazilian Electric Power stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $9.88, for a total value of $5,486,364.00. Following the completion of the sale, the director owned 120,100 shares in the company, valued at approximately $1,186,588. This represents a 82.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, May 29th, De Lima Filho Pedro Batista sold 2,249,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.43, for a total value of $23,459,156.00.
• On Friday, May 29th, De Lima Filho Pedro Batista acquired 1,234,900 shares of Brazilian Electric Power stock. The shares were bought at an average price of $10.78 per share, with a total value of $13,312,222.00.
• On Monday, May 25th, De Lima Filho Pedro Batista sold 234,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.46, for a total value of $2,450,778.00.
• On Friday, May 22nd, De Lima Filho Pedro Batista sold 714,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.40, for a total value of $7,430,800.00.
• On Wednesday, May 20th, De Lima Filho Pedro Batista sold 941,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.60, for a total value of $9,979,900.00.
• On Monday, May 18th, De Lima Filho Pedro Batista sold 751,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.51, for a total value of $7,895,112.00.
• On Monday, May 18th, De Lima Filho Pedro Batista purchased 49,600 shares of Brazilian Electric Power stock. The shares were acquired at an average cost of $11.27 per share, for a total transaction of $558,992.00.
• On Friday, May 15th, De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.48, for a total value of $9,028,520.00.
• On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.74, for a total value of $7,156,062.00.
• On Monday, May 11th, De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.05, for a total value of $7,148,245.00.

Brazilian Electric Power Trading Down 3.2%

Shares of NYSE:AXIA traded down $0.34 during midday trading on Wednesday, reaching $10.02. 1,368,467 shares of the company's stock traded hands, compared to its average volume of 2,343,479. The company has a market cap of $22.54 billion, a P/E ratio of 55.59, a PEG ratio of 1.46 and a beta of 0.46. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 2.11. Brazilian Electric Power Co has a one year low of $6.71 and a one year high of $13.54.

Hedge Funds Weigh In On Brazilian Electric Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXIA. Traveka Wealth LLC bought a new position in Brazilian Electric Power during the first quarter valued at approximately $118,000. Bank of New York Mellon Corp bought a new position in Brazilian Electric Power during the first quarter valued at approximately $150,000. Sequoia Financial Advisors LLC boosted its stake in Brazilian Electric Power by 4.5% during the first quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company's stock valued at $210,000 after buying an additional 802 shares during the last quarter. Sanctuary Advisors LLC increased its position in 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 last quarter. Finally, Walleye Capital LLC bought a new stake in Brazilian Electric Power in the first quarter worth $274,000. 2.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings assumed coverage on Brazilian Electric Power in a report on Tuesday, April 7th. They set a "hold (c)" rating for the company. Wall Street Zen raised Brazilian Electric Power from a "hold" rating to a "buy" rating in a research note on Saturday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

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.

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