Marshall Wace North America L.P. Takes $530,000 Position in Gates Industrial Corp PLC (NYSE:GTES)

Marshall Wace North America L.P. acquired a new stake in Gates Industrial Corp PLC (NYSE:GTES) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 36,940 shares of the company’s stock, valued at approximately $530,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP lifted its stake in shares of Gates Industrial by 3.1% in the first quarter. Marshall Wace LLP now owns 106,266 shares of the company’s stock worth $1,524,000 after acquiring an additional 3,150 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Gates Industrial by 2.8% in the first quarter. Champlain Investment Partners LLC now owns 5,706,660 shares of the company’s stock worth $81,834,000 after acquiring an additional 157,990 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Gates Industrial by 4.1% in the first quarter. Neuberger Berman Group LLC now owns 4,147,503 shares of the company’s stock worth $59,475,000 after acquiring an additional 164,651 shares in the last quarter. Kennedy Capital Management Inc. lifted its stake in shares of Gates Industrial by 58.8% in the first quarter. Kennedy Capital Management Inc. now owns 474,361 shares of the company’s stock worth $6,802,000 after acquiring an additional 175,633 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of Gates Industrial by 31.3% in the first quarter. Federated Investors Inc. PA now owns 760,000 shares of the company’s stock worth $10,898,000 after acquiring an additional 181,300 shares in the last quarter.

In related news, EVP Grant Gawronski acquired 5,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $13.08 per share, for a total transaction of $65,400.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Walter Lifsey acquired 76,050 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were bought at an average price of $13.08 per share, with a total value of $994,734.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 82,050 shares of company stock valued at $1,073,474. 0.68% of the stock is currently owned by corporate insiders.

Shares of NYSE:GTES traded down $0.18 during trading on Thursday, hitting $10.47. 449,700 shares of the company traded hands, compared to its average volume of 435,275. Gates Industrial Corp PLC has a one year low of $10.30 and a one year high of $20.29. The company has a market capitalization of $3.12 billion, a PE ratio of 8.18 and a beta of 1.89. The stock has a fifty day simple moving average of $11.12. The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 1.08.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $804.90 million during the quarter, compared to the consensus estimate of $844.21 million. Gates Industrial had a return on equity of 15.57% and a net margin of 25.29%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. Equities research analysts predict that Gates Industrial Corp PLC will post 1.17 earnings per share for the current fiscal year.

Several research analysts recently commented on the company. TheStreet cut Viavi Solutions from a “b-” rating to a “c+” rating in a research note on Monday, June 3rd. Goldman Sachs Group set a GBX 6,870 ($89.77) price objective on Reckitt Benckiser Group and gave the company a “neutral” rating in a research note on Tuesday, June 25th. ValuEngine cut Welbilt from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. Barclays restated a “hold” rating and set a $23.00 price objective on shares of Cypress Semiconductor in a research note on Thursday, June 6th. Finally, Zacks Investment Research upgraded General Moly from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $17.00.

Gates Industrial 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.

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Institutional Ownership by Quarter for Gates Industrial (NYSE:GTES)

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