Calumet (NASDAQ:CLMT) Stock Price Down 2.7% Following Insider Selling

Calumet, Inc. (NASDAQ:CLMT - Get Free Report)'s stock price was down 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. Approximately 209,452 shares traded hands during mid-day trading, a decline of 78% from the average daily 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 that occurred on Monday, June 16th. The stock was sold at an average price of $16.23, for a total transaction of $1,623,000.00. Following the transaction, the director now owns 934,589 shares of the company's stock, valued at $15,168,379.47. The trade was a 9.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer Straumins sold 50,000 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.08, for a total value of $754,000.00. Following the completion of the transaction, the director now directly owns 1,034,589 shares in the company, 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 news, SVP Gregory J. Morical sold 25,123 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.69, for a total value of $419,302.87. Following the completion of the sale, the senior vice president now owns 39,415 shares of the company's stock, valued at approximately $657,836.35. The trade was a 38.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

Several research firms recently issued reports on CLMT. Bank of America began coverage on shares of Calumet in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price target on the stock. The Goldman Sachs Group reduced their target price on Calumet from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. TD Cowen lowered Calumet from a "buy" rating to a "hold" rating and decreased their price target for the company from $26.00 to $16.00 in a research note on Tuesday, March 4th. Wells Fargo & Company lowered their price target on Calumet from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price objective on shares of Calumet in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.50.

Calumet Stock Down 1.9%

The business's 50 day simple moving average is $12.38 and its two-hundred day simple moving average is $15.24. The stock has a market cap of $1.43 billion, a P/E ratio of -4.12 and a beta of 0.91.

Calumet (NASDAQ:CLMT - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.62). The company had revenue of $993.90 million during the quarter, compared to analyst estimates of $899.62 million. The firm's revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.51) EPS. As a group, research analysts forecast that Calumet, Inc. will post -3.02 earnings per share for the current fiscal year.

Calumet Company Profile

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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