CenterBook Partners LP Sells 6,600 Shares of Bel Fuse Inc. $BELFB

CenterBook Partners LP lessened its holdings in Bel Fuse Inc. (NASDAQ:BELFB) by 39.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,986 shares of the electronics maker’s stock after selling 6,600 shares during the quarter. CenterBook Partners LP’s holdings in Bel Fuse were worth $1,408,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Bel Fuse by 139.8% during the third quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker’s stock valued at $37,000 after buying an additional 151 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Bel Fuse by 52.5% during the 3rd quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock valued at $47,000 after acquiring an additional 115 shares during the period. State of Alaska Department of Revenue bought a new position in Bel Fuse during the 3rd quarter worth approximately $78,000. BNP Paribas Financial Markets grew its position in Bel Fuse by 60.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker’s stock worth $98,000 after acquiring an additional 375 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Bel Fuse by 437.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,038 shares of the electronics maker’s stock worth $101,000 after purchasing an additional 845 shares during the period. 58.39% of the stock is currently owned by hedge funds and other institutional investors.

Bel Fuse Stock Up 2.2%

Shares of NASDAQ BELFB opened at $235.04 on Friday. The firm has a fifty day simple moving average of $198.04 and a two-hundred day simple moving average of $164.30. Bel Fuse Inc. has a 12 month low of $57.99 and a 12 month high of $248.61. The company has a current ratio of 3.02, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.98 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 2.44 and a beta of 1.56.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Needham & Company LLC increased their price objective on Bel Fuse from $212.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird set a $170.00 price target on shares of Bel Fuse in a report on Friday, October 31st. Zacks Research lowered shares of Bel Fuse from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Oppenheimer set a $180.00 price objective on shares of Bel Fuse and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, Northland Securities set a $266.00 target price on shares of Bel Fuse in a report on Thursday. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $196.20.

About Bel Fuse

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.