Boothbay Fund Management LLC Makes New Investment in Casella Waste Systems, Inc. $CWST

Key Points

• Boothbay Fund Management LLC bought a new stake of 70,149 shares in Casella Waste Systems (NASDAQ:CWST) during Q3, valued at about $6.66 million and representing roughly 0.11% of the company.
• Insiders have been selling recently — CEO John W. Casella sold 6,726 shares (a 19.37% reduction) and CAO Kevin Drohan sold 675 shares, with insiders offloading 11,213 shares worth about $1.05 million over the last three months.
• Casella beat Q earnings estimates with $0.30 EPS and revenue up 9.7% year-over-year but has a slim net margin (0.43%) and an extremely high P/E (~734); the stock has a $5.59 billion market cap and a consensus analyst rating of Moderate Buy with an average target of $113.11.

Boothbay Fund Management LLC bought a new stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 70,149 shares of the industrial products company's stock, valued at approximately $6,656,000. Boothbay Fund Management LLC owned approximately 0.11% of Casella Waste Systems at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in shares of Casella Waste Systems by 180.2% in the third quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company's stock worth $27,000 after purchasing an additional 191 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Casella Waste Systems by 301.6% during the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 184 shares in the last quarter. First Horizon Corp purchased a new position in Casella Waste Systems during the third quarter valued at approximately $31,000. EverSource Wealth Advisors LLC increased its stake in Casella Waste Systems by 235.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company's stock valued at $33,000 after buying an additional 200 shares during the period. Finally, Optiver Holding B.V. increased its stake in Casella Waste Systems by 280.0% in the 3rd quarter. Optiver Holding B.V. now owns 399 shares of the industrial products company's stock valued at $38,000 after buying an additional 294 shares during the period. Institutional investors and hedge funds own 99.51% of the company's stock.

Casella Waste Systems Price Performance

NASDAQ CWST opened at $88.09 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $5.59 billion, a PE ratio of 734.14 and a beta of 0.80. The company has a 50 day moving average price of $99.83 and a two-hundred day moving average price of $95.36. Casella Waste Systems, Inc. has a 12-month low of $82.22 and a 12-month high of $121.24.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted its earnings results on Thursday, February 19th. The industrial products company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.22 by $0.08. The company had revenue of $469.06 million during the quarter, compared to the consensus estimate of $471.32 million. Casella Waste Systems had a net margin of 0.43% and a return on equity of 5.17%. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, equities analysts predict that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Casella Waste Systems news, CAO Kevin Drohan sold 675 shares of the firm's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $92.61, for a total transaction of $62,511.75. Following the transaction, the chief accounting officer directly owned 7,462 shares in the company, valued at $691,055.82. This trade represents a 8.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Casella sold 6,726 shares of the business's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $93.10, for a total value of $626,190.60. Following the completion of the sale, the chief executive officer directly owned 27,989 shares of the company's stock, valued at $2,605,775.90. This represents a 19.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 11,213 shares of company stock worth $1,045,887. Corporate insiders own 3.81% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CWST. JPMorgan Chase & Co. decreased their target price on shares of Casella Waste Systems from $112.00 to $110.00 and set a "neutral" rating for the company in a research note on Monday, February 23rd. Zacks Research raised shares of Casella Waste Systems from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 1st. Raymond James Financial reiterated a "strong-buy" rating and set a $115.00 price objective on shares of Casella Waste Systems in a report on Monday, February 23rd. Barclays lifted their price objective on Casella Waste Systems from $95.00 to $101.00 and gave the company an "equal weight" rating in a research report on Monday, February 23rd. Finally, UBS Group lowered their target price on Casella Waste Systems from $140.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $113.11.

Casella Waste Systems Profile

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.

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