Cannon Global Investment Management LLC Takes $279,000 Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

Cannon Global Investment Management LLC bought a new stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,500 shares of the industrial products company's stock, valued at approximately $279,000.

Several other hedge funds have also recently made changes to their positions in the business. Lisanti Capital Growth LLC purchased a new stake in Casella Waste Systems in the first quarter worth $6,983,000. Highland Capital Management LLC purchased a new stake in Casella Waste Systems in the first quarter worth $276,000. Mascoma Wealth Management LLC grew its stake in Casella Waste Systems by 115.0% in the first quarter. Mascoma Wealth Management LLC now owns 3,440 shares of the industrial products company's stock worth $384,000 after purchasing an additional 1,840 shares during the period. Bessemer Group Inc. grew its stake in Casella Waste Systems by 28.9% in the first quarter. Bessemer Group Inc. now owns 288,424 shares of the industrial products company's stock worth $32,162,000 after purchasing an additional 64,704 shares during the period. Finally, Sheets Smith Wealth Management grew its stake in Casella Waste Systems by 3.9% in the first quarter. Sheets Smith Wealth Management now owns 2,767 shares of the industrial products company's stock worth $309,000 after purchasing an additional 103 shares during the period. 99.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Casella Waste Systems

In related news, SVP Paul Ligon sold 2,000 shares of Casella Waste Systems stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $118.67, for a total value of $237,340.00. Following the completion of the sale, the senior vice president owned 20,347 shares of the company's stock, valued at $2,414,578.49. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Edmond Coletta sold 5,562 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $119.18, for a total value of $662,879.16. Following the completion of the transaction, the president directly owned 150,093 shares in the company, valued at $17,888,083.74. The trade was a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.81% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CWST has been the topic of several recent research reports. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Casella Waste Systems in a research note on Wednesday, April 16th. TD Cowen began coverage on Casella Waste Systems in a research note on Wednesday, April 9th. They issued a "buy" rating and a $130.00 target price on the stock. Cowen reissued a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. Finally, UBS Group increased their target price on Casella Waste Systems from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.67.

Casella Waste Systems Stock Performance

NASDAQ CWST traded up $2.92 during trading hours on Friday, hitting $114.51. The company's stock had a trading volume of 264,767 shares, compared to its average volume of 393,610. Casella Waste Systems, Inc. has a 12 month low of $91.01 and a 12 month high of $121.24. The company's 50 day simple moving average is $116.19 and its two-hundred day simple moving average is $112.04. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.96 and a quick ratio of 1.87. The company has a market cap of $7.27 billion, a P/E ratio of 520.52, a price-to-earnings-growth ratio of 4.15 and a beta of 0.84.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.08. Casella Waste Systems had a net margin of 0.79% and a return on equity of 4.69%. The firm had revenue of $417.10 million during the quarter, compared to analyst estimates of $403.64 million. During the same period in the previous year, the business posted $0.15 earnings per share. The business's revenue for the quarter was up 22.3% on a year-over-year basis. As a group, sell-side analysts expect that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Casella Waste Systems Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.