Bayesian Capital Management LP Invests $174,000 in Babcock (BW) Stock
Bayesian Capital Management LP acquired a new position in shares of Babcock (NYSE:BW) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 14,811 shares of the technology company’s stock, valued at approximately $174,000.
A number of other institutional investors have also modified their holdings of BW. Victory Capital Management Inc. lifted its stake in shares of Babcock by 77.4% in the 2nd quarter. Victory Capital Management Inc. now owns 118,500 shares of the technology company’s stock worth $1,394,000 after acquiring an additional 51,700 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Babcock by 29.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,034,928 shares of the technology company’s stock worth $19,006,000 after acquiring an additional 458,237 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Babcock by 0.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 282,251 shares of the technology company’s stock worth $2,637,000 after acquiring an additional 2,430 shares during the period. Clearline Capital LP acquired a new stake in shares of Babcock in the 1st quarter worth $885,000. Finally, Vanguard Group Inc. lifted its stake in shares of Babcock by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 3,919,654 shares of the technology company’s stock worth $36,610,000 after acquiring an additional 160,524 shares during the period. 93.92% of the stock is currently owned by institutional investors.
Shares of Babcock (NYSE:BW) opened at 3.57 on Thursday. The firm’s market cap is $174.50 million. The stock has a 50 day moving average of $3.37 and a 200 day moving average of $3.37. Babcock has a 1-year low of $2.51 and a 1-year high of $17.72.
Babcock (NYSE:BW) last announced its earnings results on Wednesday, August 9th. The technology company reported ($2.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($2.68). The company had revenue of $349.80 million during the quarter, compared to the consensus estimate of $434.34 million. Babcock had a negative net margin of 14.41% and a negative return on equity of 35.95%. The business’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.20) EPS. Equities research analysts anticipate that Babcock will post ($2.51) earnings per share for the current fiscal year.
In related news, major shareholder Vintage Capital Management Llc bought 1,686,945 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average price of $3.10 per share, for a total transaction of $5,229,529.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.50% of the company’s stock.
Several analysts have recently commented on BW shares. BidaskClub cut shares of Babcock from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of Babcock from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Monday, July 3rd. UBS AG cut shares of Babcock from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $13.00 to $3.00 in a research note on Monday, August 14th. Credit Suisse Group reduced their target price on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a research note on Friday, August 11th. Finally, KeyCorp restated a “hold” rating on shares of Babcock in a research note on Friday, September 22nd. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $7.18.
Babcock Company Profile
Babcock & Wilcox Enterprises, Inc is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial.
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