Babcock $BW Shares Bought by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC lifted its position in shares of Babcock (NYSE:BW) by 200.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,000 shares of the technology company’s stock after buying an additional 60,000 shares during the period. Quinn Opportunity Partners LLC’s holdings in Babcock were worth $87,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Equitec Proprietary Markets LLC lifted its stake in shares of Babcock by 28.3% in the 1st quarter. Equitec Proprietary Markets LLC now owns 327,365 shares of the technology company’s stock valued at $220,000 after purchasing an additional 72,265 shares during the last quarter. Heartland Advisors Inc. raised its holdings in Babcock by 2.7% in the 1st quarter. Heartland Advisors Inc. now owns 1,411,000 shares of the technology company’s stock valued at $949,000 after buying an additional 37,500 shares during the period. Brightline Capital Management LLC lifted its position in Babcock by 2.6% in the first quarter. Brightline Capital Management LLC now owns 1,550,000 shares of the technology company’s stock valued at $1,042,000 after buying an additional 40,000 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Babcock by 1.3% during the first quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company’s stock worth $1,160,000 after buying an additional 22,452 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Babcock by 13.6% during the first quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock valued at $1,333,000 after acquiring an additional 237,797 shares during the last quarter. 83.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. Wall Street Zen upgraded Babcock from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Craig Hallum upgraded Babcock from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Wednesday, November 5th. DA Davidson raised their target price on Babcock from $1.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Lake Street Capital reiterated a “buy” rating and set a $9.00 price target on shares of Babcock in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.33.

Insider Activity at Babcock

In related news, CEO Kenneth M. Young bought 20,000 shares of the stock in a transaction dated Monday, August 18th. The stock was acquired at an average price of $1.51 per share, for a total transaction of $30,200.00. Following the acquisition, the chief executive officer owned 261,745 shares in the company, valued at approximately $395,234.95. This represents a 8.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Cameron M. Frymyer bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $1.55 per share, for a total transaction of $31,000.00. Following the completion of the transaction, the chief financial officer directly owned 153,805 shares in the company, valued at approximately $238,397.75. The trade was a 14.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 59,347 shares of company stock worth $99,803 over the last quarter. 3.90% of the stock is currently owned by insiders.

Babcock Price Performance

NYSE:BW opened at $6.99 on Thursday. Babcock has a 12 month low of $0.22 and a 12 month high of $7.77. The firm has a market capitalization of $776.70 million, a PE ratio of -4.11 and a beta of 1.91. The business’s fifty day moving average price is $3.50 and its 200 day moving average price is $1.92.

Babcock (NYSE:BW) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $149.00 million for the quarter, compared to analyst estimates of $155.57 million.

Babcock Profile

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.