Aristeia Capital L.L.C. Buys Shares of 16,633 Central Garden & Pet Company $CENT

Key Points

• Aristeia Capital L.L.C. has made a new investment of approximately $610,000 in Central Garden & Pet Company, acquiring 16,633 shares as per their recent SEC filing.
• Several institutional investors, including Millennium Management LLC and Bridgeway Capital Management LLC, have also increased their stakes in Central Garden & Pet during the first quarter.
• Central Garden & Pet reported $1.56 earnings per share for its most recent quarter, surpassing analyst expectations, despite a 3.6% year-over-year decline in revenue.

Aristeia Capital L.L.C. bought a new position in shares of Central Garden & Pet Company (NASDAQ:CENT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,633 shares of the company's stock, valued at approximately $610,000.

Several other large investors have also added to or reduced their stakes in CENT. Banque Cantonale Vaudoise acquired a new position in Central Garden & Pet during the first quarter worth $33,000. Simplex Trading LLC lifted its stake in Central Garden & Pet by 136.2% in the first quarter. Simplex Trading LLC now owns 2,048 shares of the company's stock valued at $75,000 after acquiring an additional 1,181 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Central Garden & Pet by 13.7% in the first quarter. New York State Common Retirement Fund now owns 2,820 shares of the company's stock valued at $103,000 after acquiring an additional 339 shares during the last quarter. GAMMA Investing LLC lifted its stake in Central Garden & Pet by 4,556.8% in the first quarter. GAMMA Investing LLC now owns 3,446 shares of the company's stock valued at $126,000 after acquiring an additional 3,372 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in Central Garden & Pet in the fourth quarter valued at $240,000. Institutional investors and hedge funds own 16.13% of the company's stock.

Insider Transactions at Central Garden & Pet

In related news, Director John Ranelli sold 3,076 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $32.58, for a total transaction of $100,216.08. Following the transaction, the director directly owned 1,427 shares of the company's stock, valued at approximately $46,491.66. This trade represents a 68.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John D. Walker III sold 3,500 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $32.59, for a total transaction of $114,065.00. Following the transaction, the insider directly owned 67,328 shares in the company, valued at approximately $2,194,219.52. This represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.19% of the company's stock.

Central Garden & Pet Stock Performance

CENT stock traded down $1.00 during trading hours on Friday, reaching $35.65. The stock had a trading volume of 60,240 shares, compared to its average volume of 60,681. The stock has a market capitalization of $2.24 billion, a PE ratio of 16.20 and a beta of 0.69. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.56 and a quick ratio of 2.28. The stock has a 50-day simple moving average of $37.54 and a 200 day simple moving average of $36.20. Central Garden & Pet Company has a fifty-two week low of $31.97 and a fifty-two week high of $43.88.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.22. The company had revenue of $960.91 million during the quarter, compared to analysts' expectations of $993.66 million. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. Central Garden & Pet's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 EPS. Analysts predict that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on dog and cat supplies such as dog treats and chews, toys, pet beds and containment, grooming products, waste management and training pads, supplies for aquatics, small animals, reptiles and pet birds including toys, cages and habitats, bedding, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.