Quinn Opportunity Partners LLC Grows Stock Position in Babcock $BW

Quinn Opportunity Partners LLC grew its holdings in Babcock (NYSE:BW) by 200.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 90,000 shares of the technology company’s stock after acquiring an additional 60,000 shares during the quarter. Quinn Opportunity Partners LLC owned 0.09% of Babcock worth $87,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Acadian Asset Management LLC grew its position in Babcock by 13.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock worth $1,333,000 after purchasing an additional 237,797 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Babcock by 1.3% during the first quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company’s stock valued at $1,160,000 after buying an additional 22,452 shares during the last quarter. Brightline Capital Management LLC grew its holdings in shares of Babcock by 2.6% during 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. Heartland Advisors Inc. increased its position in shares of 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 acquiring an additional 37,500 shares during the period. Finally, Equitec Proprietary Markets LLC raised its stake in Babcock by 28.3% in the 1st quarter. Equitec Proprietary Markets LLC now owns 327,365 shares of the technology company’s stock worth $220,000 after acquiring an additional 72,265 shares during the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Analysts Set New Price Targets

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

Babcock Trading Up 2.2%

NYSE:BW opened at $6.99 on Thursday. The stock has a 50 day moving average of $3.50 and a two-hundred day moving average of $1.92. Babcock has a 12 month low of $0.22 and a 12 month high of $7.77. The firm has a market cap of $776.70 million, a P/E ratio of -4.11 and a beta of 1.91.

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

Insider Buying and Selling at Babcock

In other Babcock news, CEO Kenneth M. Young acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of $1.51 per share, with a total value of $30,200.00. Following the purchase, the chief executive officer owned 261,745 shares in the company, valued at approximately $395,234.95. The trade was a 8.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cameron M. Frymyer bought 20,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $1.55 per share, for a total transaction of $31,000.00. Following the completion of the acquisition, the chief financial officer 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 disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 59,347 shares of company stock worth $99,803. 3.90% of the stock is currently owned by corporate insiders.

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.