Bel Fuse Inc. (NASDAQ:BELFA) Short Interest Up 64.8% in February

Bel Fuse Inc. (NASDAQ:BELFA) was the target of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 21,729 shares, an increase of 64.8% from the January 29th total of 13,188 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 48,416 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 48,416 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the company’s shares are sold short.

Insider Transactions at Bel Fuse

In other Bel Fuse news, Director Peter E. Gilbert sold 4,500 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the completion of the transaction, the director owned 15,047 shares of the company’s stock, valued at $3,592,471.25. This trade represents a 23.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of Bel Fuse stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total transaction of $7,948,278.00. The disclosure for this sale is available in the SEC filing. 5.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bel Fuse

Institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its stake in shares of Bel Fuse by 41.5% during the first quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company’s stock worth $188,000 after purchasing an additional 767 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Bel Fuse during the 2nd quarter worth about $330,000. Cynosure Group LLC increased its holdings in shares of Bel Fuse by 23.2% in the 2nd quarter. Cynosure Group LLC now owns 5,302 shares of the scientific and technical instruments company’s stock valued at $476,000 after acquiring an additional 1,000 shares during the last quarter. Gabelli Funds LLC increased its holdings in shares of Bel Fuse by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 67,400 shares of the scientific and technical instruments company’s stock valued at $6,056,000 after acquiring an additional 200 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Bel Fuse by 447.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock worth $67,000 after acquiring an additional 608 shares in the last quarter. 6.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BELFA. Weiss Ratings downgraded Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday. Robert W. Baird set a $250.00 price target on shares of Bel Fuse in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Bel Fuse presently has an average rating of “Buy” and a consensus target price of $182.50.

Bel Fuse Trading Down 1.0%

BELFA opened at $211.95 on Friday. The business has a fifty day moving average price of $186.24 and a 200 day moving average price of $147.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.02 and a quick ratio of 1.71. Bel Fuse has a 12 month low of $53.95 and a 12 month high of $227.42. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 45.58 and a beta of 1.23.

Bel Fuse (NASDAQ:BELFA) last announced its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.78. Bel Fuse had a return on equity of 21.78% and a net margin of 9.11%.The business had revenue of $175.94 million during the quarter, compared to analysts’ expectations of $172.01 million.

Bel Fuse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. Bel Fuse’s dividend payout ratio is currently 5.16%.

Bel Fuse Company Profile

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.