Taking a look at what insiders are doing to gauge the Gates Industrial Corporation plc (GTES)’s direction


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Gates Industrial Corporation plc shares valued at $32,505 were purchased by Neely Wilson S on Aug 30. At $10.84 per share, Neely Wilson S acquired 3,000 shares. The insider’s holdings grew to 37,103 shares worth approximately $0.41 million following the completion of this transaction.

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Also, Blackstone Inc sold 13,750,000 shares, netting a total of over 208,175,000 in proceeds. Following the sale of shares at $15.14 each, the insider now holds 268,295 shares.

Before that, Omaha Aggregator (Cayman) L.P. had sold 13,750,000 shares from its account. In a trade valued at $208,175,000, the 10% Owner traded Gates Industrial Corporation plc shares for $15.14 each. Upon closing the transaction, the insider’s holdings decreased to 13,750,000 shares, worth approximately $2.94 million.

As published in a research note from Evercore ISI on August 11, 2022, Gates Industrial Corporation plc [GTES] has been rated down from an Outperform to an In-line and the price target has been revised to $13.50 from $15. This represents a 18.96% premium over Wednesday’s closing price. Analysts at RBC Capital Mkts downgraded the stock from ‘”an Outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in early June. As of April 06, 2022, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for GTES. Earlier on December 06, 2021, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for GTES stock which previously was a “an Overweight”.

Analyzing GTES Stock Performance

On Wednesday, Gates Industrial Corporation plc [NYSE: GTES] plunged -3.95% to $10.94. The stock’s lowest price that day was $10.94, but it reached a high of $11.46 in the same session. During the last five days, there has been a drop of approximately -0.82%. Over the course of the year, Gates Industrial Corporation plc shares have dropped approximately -31.24%. Shares of the company reached a 52-week high of $16.87 on 01/05/22 and a 52-week low of $9.40 on 10/13/22. A 50-day SMA is recorded $10.68, while a 200-day SMA reached $12.66. Nevertheless, trading volume fell to 1.05 million shares from 2.13 million shares the previous day.

Support And Resistance Levels for Gates Industrial Corporation plc (GTES)

According to the 24-hour chart, there is a support level at 10.77, which, if violated, would cause prices to drop to 10.59. In the upper region, resistance lies at 11.29. The next price resistance is at 11.63. RSI (Relative Strength Index) is 53.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.32, which suggests the price will decrease in the coming days. Percent R is at 37.59%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Gates Industrial Corporation plc subject to short interest?

Stocks of Gates Industrial Corporation plc saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.55 million shares to 2.08 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.53 million shares. A jump of 26.44% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.57 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.57.

Which companies own the most shares of Gates Industrial Corporation plc (GTES)?

According to The Vanguard Group, Inc. filings, the company currently owns 10,225,401 shares, which is about 3.62% of the total GTES shares outstanding. The investor’s shares have appreciated by 1,413,537 from its previous 13-F filing of 8811864.0 shares. With the completion of the sale transaction, Allspring Global Investments LLC’s stake is now worth $93,123,010. Janus Henderson Investors US LLC reduced a -4.25% interest valued at $73.52 million while Cooke & Bieler LP purchased a 1,270,738 stake. A total of 263,764 shares of Gates Industrial Corporation plc were bought by American Century Investment Manag during the quarter, and 688,424 were bought by Diamond Hill Capital Management,. In its current portfolio, JPMorgan Investment Management, I holds 4,513,113 shares valued at $44.05 million.

In terms of Gates Industrial Corporation plc share price expectations, FactSet research, analysts set an average price target of $14.17 in the next 12 months, up nearly 14.14% from the previous closing price of $11.39. Analysts anticipate Gates Industrial Corporation plc stock to reach $21.00 by 2022, with the lowest price target being $11.00. In spite of this, 12 analysts ranked Gates Industrial Corporation plc stock as an Overweight at the end of 2022. On May 26, 2021, Robert W. Baird assigned a price target of “an Outperform” to the stock and initiated coverage with a $26.


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