Penn Capital Management Company LLC Invests $15.16 Million in Gates Industrial Corporation PLC $GTES

Penn Capital Management Company LLC purchased a new position in Gates Industrial Corporation PLC (NYSE:GTES) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 609,240 shares of the company’s stock, valued at approximately $15,162,000. Penn Capital Management Company LLC owned approximately 0.24% of Gates Industrial as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GTES. Norges Bank purchased a new stake in Gates Industrial in the 2nd quarter worth approximately $80,713,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Gates Industrial during the 2nd quarter valued at $32,255,000. Vanguard Group Inc. lifted its stake in shares of Gates Industrial by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after buying an additional 1,281,339 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Gates Industrial by 22.3% during the 3rd quarter. Franklin Resources Inc. now owns 6,923,169 shares of the company’s stock valued at $171,833,000 after buying an additional 1,261,849 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Gates Industrial by 751.7% in the 3rd quarter. Voya Investment Management LLC now owns 1,137,088 shares of the company’s stock worth $28,223,000 after buying an additional 1,003,580 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Stock Performance

GTES stock opened at $23.23 on Wednesday. Gates Industrial Corporation PLC has a twelve month low of $14.70 and a twelve month high of $28.47. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 23.95 and a beta of 1.23. The business’s fifty day simple moving average is $24.86 and its two-hundred day simple moving average is $24.02. The company has a quick ratio of 2.42, a current ratio of 3.37 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last issued its earnings results on Thursday, February 12th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $856.20 million during the quarter, compared to analyst estimates of $853.35 million. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Analysts predict that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on GTES shares. Royal Bank Of Canada restated an “outperform” rating and issued a $31.00 price objective on shares of Gates Industrial in a research report on Friday, February 13th. Wall Street Zen raised shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. Robert W. Baird set a $39.00 target price on shares of Gates Industrial in a report on Friday, February 13th. Morgan Stanley increased their price objective on shares of Gates Industrial from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 11th. Finally, UBS Group restated a “buy” rating and issued a $33.00 target price on shares of Gates Industrial in a report on Friday, February 13th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Gates Industrial currently has an average rating of “Moderate Buy” and an average target price of $30.73.

Gates Industrial Company Profile

Gates Industrial Corporation PLC (NYSE: GTES) is a leading global manufacturer of engineered power transmission belts and fluid power products. The company’s portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.

In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.