Insider Buying: Babcock (BW) Major Shareholder Acquires 1,686,945 Shares of Stock
Babcock (NYSE:BW) major shareholder Vintage Capital Management Llc purchased 1,686,945 shares of Babcock stock in a transaction that occurred on Thursday, September 14th. The shares were bought at an average cost of $3.10 per share, with a total value of $5,229,529.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Babcock (BW) traded down 3.60% during mid-day trading on Tuesday, hitting $3.48. The stock had a trading volume of 3,190,404 shares. The firm’s 50-day moving average price is $3.15 and its 200-day moving average price is $4.20. The stock’s market cap is $170.10 million. Babcock has a 1-year low of $2.51 and a 1-year high of $17.72.
Babcock (NYSE:BW) last released its earnings results on Wednesday, August 9th. The technology company reported ($2.63) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($2.68). The business 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 revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.20) earnings per share. On average, equities analysts expect that Babcock will post ($2.46) earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This article was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.thecerbatgem.com/2017/09/19/insider-buying-babcock-bw-major-shareholder-acquires-1686945-shares-of-stock.html.
A number of analysts have recently issued reports on BW shares. Zacks Investment Research raised Babcock from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Monday, July 3rd. BidaskClub cut Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Sidoti cut their price objective on Babcock from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, May 25th. UBS AG cut Babcock from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $3.00 in a research report on Monday, August 14th. Finally, Credit Suisse Group cut their price objective on Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a research report on Friday, August 11th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.18.
Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Babcock by 29.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,034,928 shares of the technology company’s stock valued at $19,006,000 after acquiring an additional 458,237 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Babcock by 0.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 282,251 shares of the technology company’s stock valued at $2,637,000 after acquiring an additional 2,430 shares in the last quarter. Clearline Capital LP bought a new position in shares of Babcock in the first quarter valued at approximately $885,000. Vanguard Group Inc. grew its holdings in shares of Babcock by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,919,654 shares of the technology company’s stock valued at $36,610,000 after acquiring an additional 160,524 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Babcock in the first quarter valued at approximately $198,000. 93.81% of the stock is owned by institutional investors.
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.
Receive News & Stock Ratings for Babcock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Babcock and related stocks with our FREE daily email newsletter.