Insider Selling: Casella Waste Systems, Inc. (CWST) General Counsel Sells 1,028 Shares of Stock
Casella Waste Systems, Inc. (NASDAQ:CWST) General Counsel David L. Schmitt sold 1,028 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $16.82, for a total value of $17,290.96. Following the completion of the transaction, the general counsel now owns 69,200 shares of the company’s stock, valued at approximately $1,163,944. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Casella Waste Systems, Inc. (NASDAQ:CWST) traded up 0.42% during mid-day trading on Thursday, hitting $16.69. The company’s stock had a trading volume of 260,370 shares. Casella Waste Systems, Inc. has a 52-week low of $7.54 and a 52-week high of $16.95. The company’s 50 day moving average is $14.92 and its 200-day moving average is $13.44. The stock has a market cap of $698.98 million, a P/E ratio of 1283.85 and a beta of 0.66.
Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Thursday, May 4th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.10. The business had revenue of $133.80 million for the quarter, compared to analysts’ expectations of $128.33 million. Casella Waste Systems had a negative return on equity of 73.05% and a net margin of 0.09%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) EPS. On average, equities analysts predict that Casella Waste Systems, Inc. will post $0.54 EPS for the current fiscal year.
Several research analysts have commented on the company. Barclays PLC assumed coverage on Casella Waste Systems in a research note on Friday, June 23rd. They issued an “overweight” rating and a $19.00 target price for the company. Zacks Investment Research downgraded Casella Waste Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. KeyCorp raised their target price on Casella Waste Systems from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, May 11th. Finally, Wedbush restated a “neutral” rating and issued a $13.00 target price (up previously from $11.00) on shares of Casella Waste Systems in a research note on Friday, March 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $15.57.
Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Casella Waste Systems during the first quarter valued at about $144,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Casella Waste Systems during the fourth quarter valued at about $156,000. Teza Capital Management LLC bought a new stake in shares of Casella Waste Systems during the first quarter valued at about $157,000. Karp Capital Management Corp bought a new stake in shares of Casella Waste Systems during the first quarter valued at about $163,000. Finally, Alliancebernstein L.P. bought a new stake in shares of Casella Waste Systems during the first quarter valued at about $164,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.
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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