361 Capital LLC raised its stake in Casella Waste Systems, Inc. (NASDAQ:CWST) by 91.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,714 shares of the industrial products company’s stock after acquiring an additional 12,788 shares during the quarter. 361 Capital LLC owned approximately 0.06% of Casella Waste Systems worth $438,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in shares of Casella Waste Systems by 206.2% in the second quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 4,922 shares during the last quarter. Simplex Trading LLC raised its holdings in shares of Casella Waste Systems by 596.4% in the second quarter. Simplex Trading LLC now owns 9,931 shares of the industrial products company’s stock worth $162,000 after acquiring an additional 8,505 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Casella Waste Systems in the first quarter worth $144,000. Cubist Systematic Strategies LLC acquired a new position in shares of Casella Waste Systems in the second quarter worth $186,000. Finally, Karp Capital Management Corp acquired a new position in shares of Casella Waste Systems in the first quarter worth $163,000. 77.40% of the stock is owned by institutional investors.
Shares of Casella Waste Systems, Inc. (NASDAQ:CWST) traded down 0.28% during midday trading on Wednesday, hitting $18.07. The stock had a trading volume of 28,040 shares. The company’s 50-day moving average price is $17.65 and its 200-day moving average price is $15.94. The firm’s market cap is $741.74 million. Casella Waste Systems, Inc. has a 12-month low of $10.44 and a 12-month high of $19.13.
Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The company had revenue of $154.02 million during the quarter, compared to analyst estimates of $149.88 million. Casella Waste Systems had a negative return on equity of 60.26% and a negative net margin of 10.01%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 earnings per share. Equities research analysts forecast that Casella Waste Systems, Inc. will post $0.61 EPS for the current year.
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A number of research firms have recently weighed in on CWST. Stifel Nicolaus cut Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a report on Wednesday, October 4th. Zacks Investment Research cut Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, BidaskClub raised Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $16.83.
In other news, Director William P. Hulligan sold 20,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $16.15, for a total value of $323,000.00. Following the completion of the sale, the director now owns 96,760 shares in the company, valued at $1,562,674. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael K. Burke sold 31,500 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $17.93, for a total value of $564,795.00. Following the completion of the sale, the director now owns 116,514 shares of the company’s stock, valued at approximately $2,089,096.02. The disclosure for this sale can be found here. 11.50% of the stock is owned by corporate insiders.
About Casella Waste Systems
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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