Bel Fuse Inc. (NASDAQ:BELFB) Sees Large Growth in Short Interest

Bel Fuse Inc. (NASDAQ:BELFB) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 307,000 shares, an increase of 5.2% from the November 30th total of 291,800 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average daily volume of 68,300 shares, the days-to-cover ratio is currently 4.5 days.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Oppenheimer initiated coverage on shares of Bel Fuse in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $105.00 price target on the stock. Northland Securities raised their target price on shares of Bel Fuse from $80.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. StockNews.com lowered Bel Fuse from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 2nd. Needham & Company LLC raised their price target on Bel Fuse from $79.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Northland Capmk upgraded Bel Fuse from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $98.33.

Insider Buying and Selling at Bel Fuse

In other news, VP Joseph Francis Berry sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $80.30, for a total value of $80,300.00. Following the completion of the sale, the vice president now owns 8,023 shares of the company’s stock, valued at approximately $644,246.90. The trade was a 11.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Dawson sold 1,500 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $77.65, for a total transaction of $116,475.00. Following the transaction, the insider now directly owns 14,832 shares in the company, valued at $1,151,704.80. The trade was a 9.18 % decrease in their position. The disclosure for this sale can be found here. 5.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Bel Fuse by 10.5% during the second quarter. Principal Financial Group Inc. now owns 8,631 shares of the electronics maker’s stock valued at $563,000 after purchasing an additional 823 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Bel Fuse by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 16,766 shares of the electronics maker’s stock worth $1,094,000 after acquiring an additional 787 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in shares of Bel Fuse in the 2nd quarter worth $3,346,000. Roubaix Capital LLC raised its position in shares of Bel Fuse by 19.0% during the second quarter. Roubaix Capital LLC now owns 55,330 shares of the electronics maker’s stock worth $3,610,000 after purchasing an additional 8,849 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Bel Fuse by 28.9% during the second quarter. Victory Capital Management Inc. now owns 31,879 shares of the electronics maker’s stock worth $2,080,000 after purchasing an additional 7,148 shares during the period. Institutional investors own 58.39% of the company’s stock.

Bel Fuse Price Performance

Shares of NASDAQ:BELFB opened at $81.03 on Friday. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 18.58 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.71. Bel Fuse has a 12 month low of $45.74 and a 12 month high of $92.61. The stock’s 50 day moving average price is $80.65 and its 200 day moving average price is $73.89.

Bel Fuse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Wednesday, January 15th. Bel Fuse’s dividend payout ratio is presently 6.42%.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.