GatePass Capital LLC Invests $634,000 in Babcock $BW

GatePass Capital LLC bought a new stake in Babcock (NYSE:BW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 100,000 shares of the technology company’s stock, valued at approximately $634,000.

Several other large investors have also recently bought and sold shares of BW. Centiva Capital LP bought a new position in Babcock in the third quarter valued at approximately $31,000. Raymond James Financial Inc. grew its stake in shares of Babcock by 11,311.3% in the third quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after buying an additional 11,990 shares in the last quarter. Sender Co & Partners Inc. acquired a new position in Babcock during the third quarter worth $50,000. Pekin Hardy Strauss Inc. acquired a new position in Babcock during the fourth quarter worth $111,000. Finally, Qube Research & Technologies Ltd bought a new stake in Babcock during the third quarter worth $69,000. 83.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BW has been the subject of a number of analyst reports. Craig Hallum reissued a “buy” rating and issued a $19.00 price objective on shares of Babcock in a research report on Tuesday, March 17th. Northland Securities set a $23.00 target price on shares of Babcock in a report on Tuesday, May 12th. Wall Street Zen downgraded shares of Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.25.

Babcock Price Performance

BW stock opened at $19.05 on Tuesday. Babcock has a one year low of $0.62 and a one year high of $22.03. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -21.65 and a beta of 1.08. The company has a fifty day moving average price of $16.53 and a two-hundred day moving average price of $10.92.

Babcock (NYSE:BW) last issued its quarterly earnings data on Monday, May 11th. The technology company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The firm had revenue of $214.41 million for the quarter, compared to the consensus estimate of $149.72 million. Research analysts anticipate that Babcock will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kenneth M. Young purchased 7,000 shares of the stock in a transaction on Wednesday, March 18th. The shares were purchased at an average cost of $15.14 per share, with a total value of $105,980.00. Following the acquisition, the chief executive officer directly owned 1,656,512 shares in the company, valued at $25,079,591.68. The trade was a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.80% of the stock is currently owned by corporate insiders.

About Babcock

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.

In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.