Trexquant Investment LP Has $3.03 Million Stock Position in Gates Industrial Corp PLC (NYSE:GTES)

Trexquant Investment LP increased its stake in shares of Gates Industrial Corp PLC (NYSE:GTES) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,847 shares of the company’s stock after purchasing an additional 12,490 shares during the period. Trexquant Investment LP owned approximately 0.09% of Gates Industrial worth $3,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Gates Industrial during the 4th quarter worth $27,000. Gladius Capital Management LP acquired a new position in Gates Industrial during the 4th quarter worth about $48,000. Covestor Ltd lifted its holdings in Gates Industrial by 42.8% during the 3rd quarter. Covestor Ltd now owns 4,852 shares of the company’s stock worth $57,000 after buying an additional 1,454 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Gates Industrial in the 3rd quarter worth about $77,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of Gates Industrial in the 4th quarter worth about $147,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Blackstone Inc. sold 20,125,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $16.33, for a total transaction of $328,641,250.00. Following the completion of the sale, the insider now directly owns 77,326 shares in the company, valued at approximately $1,262,733.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GTES shares. The Goldman Sachs Group upped their price objective on Gates Industrial from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Wolfe Research raised shares of Gates Industrial from a “peer perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Friday, March 8th. Robert W. Baird raised their price target on shares of Gates Industrial from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Citigroup lifted their price target on shares of Gates Industrial from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Jefferies Financial Group initiated coverage on shares of Gates Industrial in a research note on Thursday, February 29th. They set a “buy” rating and a $21.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.88.

Gates Industrial Stock Performance

Gates Industrial stock traded up $0.10 during trading hours on Friday, reaching $17.68. 1,725,506 shares of the company were exchanged, compared to its average volume of 3,281,435. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 19.43 and a beta of 1.54. The company has a current ratio of 3.06, a quick ratio of 2.15 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average of $17.31 and a 200 day moving average of $14.65. Gates Industrial Corp PLC has a 12 month low of $10.68 and a 12 month high of $17.99.

Gates Industrial (NYSE:GTES) last announced its earnings results on Wednesday, May 1st. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $862.60 million for the quarter, compared to analysts’ expectations of $866.00 million. Gates Industrial had a return on equity of 10.52% and a net margin of 6.97%. As a group, research analysts anticipate that Gates Industrial Corp PLC will post 1.32 earnings per share for the current year.

Gates Industrial Company Profile

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.