Insider Selling: Casella Waste Systems, Inc. (CWST) Insider Sells $140,070.00 in Stock
Casella Waste Systems, Inc. (NASDAQ:CWST) insider Edmond Coletta sold 7,000 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $20.01, for a total transaction of $140,070.00. Following the transaction, the insider now directly owns 164,589 shares in the company, valued at approximately $3,293,425.89. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of Casella Waste Systems, Inc. (NASDAQ CWST) opened at $19.38 on Friday. The company has a debt-to-equity ratio of -7.91, a quick ratio of 0.91 and a current ratio of 0.98. Casella Waste Systems, Inc. has a one year low of $11.15 and a one year high of $20.90. The stock has a market cap of $811.85, a P/E ratio of 31.66 and a beta of 0.69.
Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. Casella Waste Systems had a negative net margin of 9.09% and a negative return on equity of 56.99%. The company had revenue of $160.27 million during the quarter, compared to analyst estimates of $154.61 million. During the same quarter last year, the business posted $0.18 EPS. Casella Waste Systems’s quarterly revenue was up 6.0% compared to the same quarter last year. research analysts expect that Casella Waste Systems, Inc. will post 0.64 earnings per share for the current year.
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CWST has been the topic of a number of analyst reports. BidaskClub upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research upgraded shares of Casella Waste Systems from a “sell” rating to a “hold” rating and set a $22.00 target price on the stock in a report on Tuesday. KeyCorp restated a “buy” rating on shares of Casella Waste Systems in a report on Friday, October 13th. Finally, Stifel Nicolaus lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a report on Wednesday, October 4th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.50.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its holdings in Casella Waste Systems by 206.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock worth $120,000 after buying an additional 4,922 shares during the period. Simplex Trading LLC boosted its holdings in Casella Waste Systems by 596.4% in the 2nd quarter. Simplex Trading LLC now owns 9,931 shares of the industrial products company’s stock worth $162,000 after buying an additional 8,505 shares during the period. Karp Capital Management Corp bought a new position in Casella Waste Systems in the 1st quarter worth approximately $163,000. Alliancebernstein L.P. bought a new position in Casella Waste Systems in the 1st quarter worth approximately $164,000. Finally, Cubist Systematic Strategies LLC bought a new position in Casella Waste Systems in the 2nd quarter worth approximately $186,000. 77.17% of the stock is owned by institutional investors.
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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