Versant Capital Management Inc Purchases 1,598 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Versant Capital Management Inc grew its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 178.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,494 shares of the company’s stock after purchasing an additional 1,598 shares during the quarter. Versant Capital Management Inc’s holdings in Gates Industrial were worth $51,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Gates Industrial by 333.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,896 shares of the company’s stock valued at $68,000 after buying an additional 2,998 shares during the last quarter. Mutual of America Capital Management LLC acquired a new stake in shares of Gates Industrial in the third quarter worth $597,000. Foundry Partners LLC bought a new position in Gates Industrial during the third quarter worth $4,247,000. Verition Fund Management LLC raised its stake in Gates Industrial by 322.7% during the 3rd quarter. Verition Fund Management LLC now owns 379,509 shares of the company’s stock valued at $6,660,000 after purchasing an additional 289,722 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Gates Industrial by 45.9% in the 3rd quarter. Jennison Associates LLC now owns 4,032,089 shares of the company’s stock valued at $70,763,000 after purchasing an additional 1,268,407 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GTES shares. Royal Bank of Canada upped their price objective on shares of Gates Industrial from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Citigroup raised their price objective on Gates Industrial from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Jefferies Financial Group raised their target price on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Barclays raised shares of Gates Industrial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $21.00 to $25.00 in a report on Thursday, December 5th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.80.

Gates Industrial Trading Up 1.7 %

Shares of Gates Industrial stock opened at $20.76 on Monday. The stock has a market capitalization of $5.29 billion, a P/E ratio of 25.01 and a beta of 1.38. Gates Industrial Corp PLC has a 12-month low of $12.40 and a 12-month high of $23.34. The company has a quick ratio of 2.11, a current ratio of 3.02 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $21.12 and a 200 day simple moving average of $18.53.

Gates Industrial Profile

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.