Celestica, Inc. $CLS Shares Sold by Apis Capital Advisors LLC

Key Points

• Apis Capital Advisors cut its Celestica stake by 52.7%, selling 30,565 shares and retaining 27,435 shares worth about $6.76M, with CLS accounting for 1.5% of Apis’s holdings (its 20th-largest position).
• Viking Global opened a large new position valued at roughly $424.46M, and institutional/hedge fund ownership of Celestica stands at about 67.38%.
• Significant insider selling occurred: President Jason Phillips sold 100,000 shares for about $30.89M (an 88.82% reduction in his holdings), and insiders have disposed of ~297,923 shares worth ~$88.03M over the past 90 days.

Apis Capital Advisors LLC reduced its position in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 52.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,435 shares of the technology company's stock after selling 30,565 shares during the period. Celestica comprises about 1.5% of Apis Capital Advisors LLC's holdings, making the stock its 20th largest holding. Apis Capital Advisors LLC's holdings in Celestica were worth $6,759,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CLS. JAT Capital Mgmt LP acquired a new position in Celestica during the 3rd quarter worth about $2,488,000. Schonfeld Strategic Advisors LLC acquired a new position in Celestica in the 3rd quarter valued at about $1,081,000. Ashford Capital Management Inc. acquired a new position in Celestica in the 3rd quarter valued at about $298,000. Viking Global Investors LP purchased a new stake in Celestica during the third quarter worth about $424,459,000. Finally, Creative Planning increased its stake in Celestica by 13.9% during the third quarter. Creative Planning now owns 36,259 shares of the technology company's stock worth $8,933,000 after purchasing an additional 4,429 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CLS shares. Wall Street Zen raised shares of Celestica from a "hold" rating to a "buy" rating in a research note on Friday, January 23rd. TD Cowen reiterated a "hold" rating on shares of Celestica in a report on Friday, January 30th. TD Securities raised their price target on shares of Celestica from $305.00 to $330.00 and gave the company a "hold" rating in a research report on Friday, January 30th. BMO Capital Markets restated an "outperform" rating on shares of Celestica in a research note on Monday, January 26th. Finally, Citigroup cut their price objective on Celestica from $375.00 to $338.00 and set a "buy" rating on the stock in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $354.24.

Celestica Stock Down 0.4%

Shares of NYSE:CLS opened at $263.83 on Friday. The firm has a 50 day simple moving average of $292.58 and a 200-day simple moving average of $287.15. Celestica, Inc. has a twelve month low of $58.05 and a twelve month high of $363.40. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $30.35 billion, a PE ratio of 36.75 and a beta of 1.88.

Insider Buying and Selling

In other Celestica news, President Jason Phillips sold 100,000 shares of the company's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $308.92, for a total value of $30,892,000.00. Following the completion of the transaction, the president owned 12,584 shares in the company, valued at $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Todd C. Cooper sold 1,065 shares of the firm's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $301,938.15. Following the transaction, the president directly owned 108,970 shares in the company, valued at approximately $30,894,084.70. The trade was a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 297,923 shares of company stock worth $88,027,459 in the last ninety days. 0.52% of the stock is owned by corporate insiders.

About Celestica

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company's service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.

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