Gates Industrial Corporation plc (NYSE: GTES) is 50.82% higher on its value in year-to-date trading and has touched a low of $11.11 and a high of $20.01 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The GTES stock was last observed hovering at around $19.63 in the last trading session, with the day’s gains setting it 0.61%.
Currently trading at $20.24, the stock is 9.23% and 13.62% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.53 million and changing 3.11% at the moment leaves the stock 21.57% off its SMA200. GTES registered 74.03% gain for a year compared to 6-month gain of 22.96%. The firm has a 50-day simple moving average (SMA 50) of $17.7668 and a 200-day simple moving average (SMA200) of $16.6121.
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The stock witnessed a 15.86% loss in the last 1 month and extending the period to 3 months gives it a 25.56%, and is 10.84% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.48% over the week and 2.61% over the month.
Gates Industrial Corporation plc (GTES) has around 14700 employees, a market worth around $5.16B and $3.44B in sales. Current P/E ratio is 24.31 and Fwd P/E is 12.92. Profit margin for the company is 6.44%. Distance from 52-week low is 82.18% and 1.12% from its 52-week high. The company has generated returns on investments over the last 12 months (3.98%).
with sales reaching $833.32M over the same period.The EPS is expected to shrink by -1.21% this year, but quarterly earnings will post -4.50% year-over-year. Quarterly sales are estimated to shrink -3.50% in year-over-year returns.
Gates Industrial Corporation plc (GTES) Top Institutional Holders
427.0 institutions hold shares in Gates Industrial Corporation plc (GTES), with institutional investors hold 97.45% of the company’s shares. The shares outstanding are 264.26M, and float is at 233.07M with Short Float at 3.78%. Institutions hold 96.51% of the Float.
The top institutional shareholder in the company is BLACKSTONE INC. with over 51.88 million shares valued at $820.17 million. The investor’s holdings represent 19.8427% of the GTES Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 20.36 million shares valued at $321.96 million to account for 7.7892 of the shares outstanding. The other top investors are ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC which holds 14.63 million shares representing 5.5944% and valued at over $231.24 million, while FMR LLC holds 4.7799 of the shares totaling 12.5 million with a market value of $197.57 million.
Gates Industrial Corporation plc (GTES) Insider Activity
The most recent transaction is an insider purchase by Neely Wilson S, the company’s Director. SEC filings show that Neely Wilson S bought 11,952 shares of the company’s common stock on Aug 21 ’24 at a price of $16.80 per share for a total of $0.2 million. Following the purchase, the insider now owns 6000.0 shares.
Gates Industrial Corporation plc disclosed in a document filed with the SEC on Aug 21 ’24 that Blackstone Inc. (10% Owner) sold a total of 30,539,203 shares of the company’s common stock. The trade occurred on Aug 21 ’24 and was made at $16.58 per share for $506.34 million. Following the transaction, the insider now directly holds 31805.0 shares of the GTES stock.
Still, SEC filings show that on Aug 21 ’24, Omaha Aggregator (Cayman) L.P. (10% Owner) disposed off 30,539,203 shares at an average price of $16.58 for $506.34 million. The insider now directly holds 31,805 shares of Gates Industrial Corporation plc (GTES).
