Calumet (NASDAQ:CLMT) Trading Down 2.7% on Insider Selling

Shares of Calumet, Inc. (NASDAQ:CLMTGet Free Report) fell 2.7% on Wednesday after an insider sold shares in the company. The stock traded as low as $16.27 and last traded at $16.43. 209,452 shares were traded during mid-day trading, a decline of 78% from the average session volume of 958,886 shares. The stock had previously closed at $16.88.

Specifically, Director Jennifer Straumins sold 100,000 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $16.23, for a total transaction of $1,623,000.00. Following the completion of the sale, the director now directly owns 934,589 shares in the company, valued at approximately $15,168,379.47. The trade was a 9.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer Straumins sold 50,000 shares of the business’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.08, for a total transaction of $754,000.00. Following the sale, the director now owns 1,034,589 shares of the company’s stock, valued at approximately $15,601,602.12. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Calumet news, SVP Gregory J. Morical sold 25,123 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $16.69, for a total transaction of $419,302.87. Following the completion of the sale, the senior vice president now directly owns 39,415 shares in the company, valued at approximately $657,836.35. The trade was a 38.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

A number of brokerages have weighed in on CLMT. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Calumet in a research note on Monday, March 3rd. Bank of America began coverage on shares of Calumet in a research note on Tuesday, May 13th. They set a “buy” rating and a $15.00 target price for the company. TD Cowen lowered shares of Calumet from a “buy” rating to a “hold” rating and decreased their target price for the company from $26.00 to $16.00 in a research note on Tuesday, March 4th. UBS Group upgraded shares of Calumet from a “sell” rating to a “neutral” rating and decreased their target price for the company from $15.00 to $12.00 in a research note on Monday, March 17th. Finally, The Goldman Sachs Group cut their price objective on shares of Calumet from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Calumet presently has a consensus rating of “Hold” and an average price target of $18.50.

View Our Latest Stock Analysis on CLMT

Calumet Stock Performance

The business’s 50-day moving average price is $12.51 and its 200-day moving average price is $15.25. The stock has a market cap of $1.42 billion, a P/E ratio of -4.11 and a beta of 0.91.

Calumet (NASDAQ:CLMTGet Free Report) last issued its quarterly earnings data on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.62). The firm had revenue of $993.90 million for the quarter, compared to analysts’ expectations of $899.62 million. During the same period last year, the firm posted ($0.51) earnings per share. Calumet’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts expect that Calumet, Inc. will post -3.02 earnings per share for the current year.

About Calumet

(Get Free Report)

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.

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