Gates Industrial Corp PLC (NYSE:GTES - Get Free Report) was the recipient of some unusual options trading on Thursday. Stock investors purchased 3,194 put options on the stock. This represents an increase of approximately 293% compared to the typical daily volume of 813 put options.
Insider Activity at Gates Industrial
In related news, Director Fredrik J. Eliasson bought 60,000 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $19.56 per share, for a total transaction of $1,173,600.00. Following the purchase, the director now owns 188,452 shares of the company's stock, valued at $3,686,121.12. This trade represents a 46.71 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. GeoWealth Management LLC raised its position in shares of Gates Industrial by 187.4% in the fourth quarter. GeoWealth Management LLC now owns 1,210 shares of the company's stock valued at $25,000 after buying an additional 789 shares during the last quarter. Assetmark Inc. grew its stake in Gates Industrial by 2,968.6% in the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company's stock worth $32,000 after acquiring an additional 1,514 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Gates Industrial in the 4th quarter valued at $43,000. Versant Capital Management Inc lifted its stake in shares of Gates Industrial by 178.3% during the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company's stock worth $51,000 after purchasing an additional 1,598 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Gates Industrial by 38.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock worth $54,000 after purchasing an additional 724 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.
Gates Industrial Price Performance
GTES stock traded up $0.51 during midday trading on Monday, hitting $19.87. 347,182 shares of the stock were exchanged, compared to its average volume of 2,819,950. The stock's 50-day moving average price is $20.84 and its 200-day moving average price is $20.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 27.22 and a beta of 1.33. Gates Industrial has a fifty-two week low of $15.14 and a fifty-two week high of $23.85.
Gates Industrial (NYSE:GTES - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. Research analysts predict that Gates Industrial will post 1.36 earnings per share for the current year.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. KeyCorp lifted their target price on shares of Gates Industrial from $23.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Barclays lowered their price objective on Gates Industrial from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Citigroup cut their target price on Gates Industrial from $27.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group decreased their price target on Gates Industrial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Finally, Jefferies Financial Group increased their price objective on Gates Industrial from $23.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Gates Industrial has an average rating of "Moderate Buy" and a consensus price target of $24.11.
Check Out Our Latest Research Report on Gates Industrial
About Gates Industrial
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Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.
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