Investing in Gates Industrial Corporation plc (GTES) Is Getting More Attractive


Gates Industrial Corporation plc’s filing revealed that its Director Neely Wilson S acquired Company’s shares for reported $32505.0 on Aug 30. In the deal valued at $10.84 per share,3,000 shares were bought. As a result of this transaction, Neely Wilson S now holds 37,103 shares worth roughly $ 0.39 million.

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Then, Blackstone Inc sold 13,750,000 shares, generating $208,175,000 in total proceeds. Upon selling the shares at $15.14, the 10% Owner now owns 268,295 shares.

Before that, Omaha Aggregator (Cayman) L.P. sold 13,750,000 shares. Gates Industrial Corporation plc shares valued at $208,175,000 were divested by the 10% Owner at a price of $15.14 per share. As a result of the transaction, Omaha Aggregator (Cayman) L.P. now holds 268,295 shares, worth roughly $2.8 million.

Evercore ISI downgraded its Gates Industrial Corporation plc [GTES] rating to an In-line from a an Outperform in a research note published on Friday, August 11, 2022; the price target was decreased to $13.50 from $15. PT values the company’s stock at a premium of 22.59 to its Friday closing price. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who decreased its forecast for the stock in early June from “an Outperform” to “a Sector perform”. Wolfe Research also remained covering GTES and has decreased its forecast on April 06, 2022 with a “Peer perform” recommendation from previously “an Outperform” rating. Barclays revised its rating on December 06, 2021. It rated GTES as “an Equal weight” which previously was an “an Overweight”.

Price Performance Review of GTES

On Friday, Gates Industrial Corporation plc [NYSE:GTES] saw its stock fall -4.48% to $10.45. On the same session, the stock had its day’s lowest price of $10.30, but rose to a high of $10.945. Over the last five days, the stock has lost -7.93%. Gates Industrial Corporation plc shares have fallen nearly -34.32% since the year began. Nevertheless, the stocks have fallen -40.46% over the past one year. While a 52-week high of $18.18 was reached on 01/05/22, a 52-week low of $9.40 was recorded on 10/13/22. SMA at 50 days reached $10.64, while 200 days put it at $12.61. A total of 0.77 million shares were traded, compared to the trading of 1.05 million shares in the previous session.

Levels Of Support And Resistance For GTES Stock

The 24-hour chart illustrates a support level at 10.19, which if violated will result in even more drops to 9.92. On the upside, there is a resistance level at 10.83. A further resistance level may holdings at 11.21. The Relative Strength Index (RSI) on the 14-day chart is 45.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.18%. Stochastics %K at 45.03% indicates the stock is a holding.

How much short interest is there in Gates Industrial Corporation plc?

A steep rise in short interest was recorded in Gates Industrial Corporation plc stocks on Jul 14, 2022, growing by 0.55 million shares to a total of 2.08 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 1.53 million shares. There was a rise of 26.44%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.88% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.57.

Gates Industrial Corporation plc [GTES] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 10,225,401 shares, or roughly 3.62% of the outstanding GTES shares. In other words, the investor’s shares have risen by 1,413,537 from its previous 13-F filing of 8811864.0. Additionally, Allspring Global Investments LLC decreased -0.25% of its stake after which the total value it holdings stand at $93,123,010, while Janus Henderson Investors US LLC reduced -4.25% of its stake to hold $73.52 million in the firm. Over the last quarter, Cooke & Bieler LP purchased 1,270,738 shares of Gates Industrial Corporation plc, while American Century Investment Manag bought 263,764 shares. At present, Diamond Hill Capital Management, is holding 4,728,923 shares valued at $46.15 million. JPMorgan Investment Management, I owned 4,513,113 shares of the company at the time of its most recent 13F filing, worth $44.05 million.

According to FactSet, Gates Industrial Corporation plc’s share price will average $13.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 21.12 percent from its previous closing price of $10.94. Analysts expect Gates Industrial Corporation plc stock to reach the higher price of $21.00, while the lowest price estimate is $11.00. However, 12 analysts have rated GTES stock as an Overweight in their predictions for 2022. The most recent change occurred on May 26, 2021 when Robert W. Baird began covering the stock and recommended ‘”an Outperform”‘ rating along with a $26 price target.


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