Key Points
- Director De Lima Filho Pedro Batista sold 714,500 shares of Brazilian Electric Power (NYSE: AXIA) on May 22 at an average price of $10.40, totaling about $7.43 million. After the transaction, he still held 558,346 shares.
- The sale marked a 56.13% reduction in his ownership, and it came amid a series of recent insider transactions that included multiple large share sales as well as a few purchases.
- AXIA shares were trading near $10.68 when the article was published, with the stock down 0.8% and Wall Street analysts currently rating it a Hold on average.
Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 714,500 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $10.40, for a total value of $7,430,800.00. Following the sale, the director owned 558,346 shares of the company's stock, valued at approximately $5,806,798.40. This represents a 56.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
De Lima Filho Pedro Batista also recently made the following trade(s):
- On Wednesday, May 20th, De Lima Filho Pedro Batista sold 941,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.60, for a total value of $9,979,900.00.
- On Monday, May 18th, De Lima Filho Pedro Batista sold 751,200 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.51, for a total value of $7,895,112.00.
- On Monday, May 18th, De Lima Filho Pedro Batista acquired 49,600 shares of Brazilian Electric Power stock. The shares were purchased at an average price of $11.27 per share, with a total value of $558,992.00.
- On Friday, May 15th, De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.48, for a total value of $9,028,520.00.
- On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.74, for a total value of $7,156,062.00.
- On Monday, May 11th, De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock. The stock was sold at an average price of $11.05, for a total value of $7,148,245.00.
- On Friday, May 8th, De Lima Filho Pedro Batista sold 3,938,700 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.86, for a total transaction of $46,712,982.00.
- On Friday, May 8th, De Lima Filho Pedro Batista acquired 3,656,500 shares of Brazilian Electric Power stock. The shares were acquired at an average cost of $11.90 per share, for a total transaction of $43,512,350.00.
- On Monday, April 20th, De Lima Filho Pedro Batista sold 1,397,982 shares of Brazilian Electric Power stock. The shares were sold at an average price of $12.54, for a total transaction of $17,530,694.28.
- On Friday, April 17th, De Lima Filho Pedro Batista sold 1,640,600 shares of Brazilian Electric Power stock. The shares were sold at an average price of $12.46, for a total transaction of $20,441,876.00.
Brazilian Electric Power Stock Down 0.8%
Shares of AXIA opened at $10.68 on Wednesday. The company has a market cap of $24.04 billion, a P/E ratio of 59.33, a price-to-earnings-growth ratio of 1.55 and a beta of 0.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.11 and a current ratio of 2.11. Brazilian Electric Power Co has a twelve month low of $6.71 and a twelve month high of $13.54.
Hedge Funds Weigh In On Brazilian Electric Power
Institutional investors have recently modified their holdings of the company. Traveka Wealth LLC bought a new position in shares of Brazilian Electric Power in the first quarter valued at approximately $118,000. Bank of New York Mellon Corp bought a new position in shares of Brazilian Electric Power in the first quarter valued at approximately $150,000. Sequoia Financial Advisors LLC raised its position in shares of Brazilian Electric Power by 4.5% in the first quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company's stock valued at $210,000 after purchasing an additional 802 shares during the period. Sanctuary Advisors LLC raised its position in shares of Brazilian Electric Power by 28.2% in the first quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company's stock valued at $248,000 after purchasing an additional 4,834 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Brazilian Electric Power in the first quarter valued at approximately $274,000. Institutional investors own 2.64% of the company's stock.
Wall Street Analysts Forecast Growth
AXIA has been the topic of several recent research reports. Wall Street Zen lowered Brazilian Electric Power from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings initiated coverage on Brazilian Electric Power in a report on Tuesday, April 7th. They set a "hold (c)" rating on the stock. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold".
Check Out Our Latest Stock Report on AXIA
About Brazilian Electric Power
(
Get Free Report)
Centrais Elétricas Brasileiras SA - Eletrobras, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through hydroelectric, thermal, nuclear, wind, and solar plants. As of December 31, 2020, it owned and operated 31 hydroelectric plants with a total installed capacity of 50,648 megawatts; seven thermal plants, including coal, and oil and gas power generation units with a total installed capacity of 1,595 megawatts; and two nuclear power plants comprising Angra I with an installed capacity of 640 megawatts and Angra II with an installed capacity of 1,350 megawatts.
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