Celestica, Inc. $CLS Shares Sold by Aquatic Capital Management LLC

Key Points

• Aquatic Capital trimmed its Celestica stake by 31.5% to 47,793 shares (~$11.78M) while large investors like Arrowstreet, Viking Global and Norges Bank initiated or greatly boosted positions, leaving institutional ownership at 67.38%.
• Insiders sold heavily: Presidents Jason Phillips and Todd C. Cooper were among insiders who sold large blocks, with a total of 297,923 shares (~$88.03M) sold in the last 90 days, leaving insider ownership at just 0.52%.
• Celestica shares trade around $263.83 with a market cap of $30.35B, and analysts have a consensus "Moderate Buy" rating with an average target of $354.24.

Aquatic Capital Management LLC lessened its holdings in Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 31.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,793 shares of the technology company's stock after selling 21,932 shares during the period. Aquatic Capital Management LLC's holdings in Celestica were worth $11,775,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CLS. Arrowstreet Capital Limited Partnership lifted its stake in shares of Celestica by 471.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company's stock worth $775,133,000 after purchasing an additional 2,596,318 shares in the last quarter. Viking Global Investors LP purchased a new stake in shares of Celestica during the 3rd quarter valued at about $424,459,000. Norges Bank acquired a new position in Celestica during the 2nd quarter worth approximately $236,069,000. SRS Investment Management LLC acquired a new position in Celestica during the 2nd quarter worth approximately $135,289,000. Finally, Picton Mahoney Asset Management purchased a new position in Celestica in the 2nd quarter worth approximately $90,425,000. Institutional investors and hedge funds own 67.38% of the company's stock.

Celestica Stock Down 0.4%

Shares of NYSE:CLS opened at $263.83 on Monday. The firm has a market cap of $30.35 billion, a PE ratio of 36.75 and a beta of 1.88. The company has a fifty day simple moving average of $292.58 and a 200 day simple moving average of $287.75. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. Celestica, Inc. has a 12-month low of $58.05 and a 12-month high of $363.40.

Insiders Place Their Bets

In other news, President Jason Phillips sold 100,000 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the transaction, the president owned 12,584 shares of the company's stock, valued at approximately $3,887,449.28. This trade represents a 88.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Todd C. Cooper sold 89,484 shares of Celestica stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $25,722,175.80. Following the completion of the transaction, the president owned 108,970 shares of the company's stock, valued at $31,323,426.50. This trade represents a 45.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 297,923 shares of company stock valued at $88,027,459 in the last ninety days. Corporate insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

CLS has been the subject of several recent research reports. Bank of America started coverage on shares of Celestica in a research report on Wednesday, January 28th. They issued a "buy" rating and a $400.00 price objective for the company. Citigroup decreased their target price on shares of Celestica from $375.00 to $338.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Barclays raised their price target on shares of Celestica from $359.00 to $391.00 and gave the company an "overweight" rating in a report on Friday, January 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $400.00 price target on shares of Celestica in a research note on Thursday, January 22nd. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Celestica in a research report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $354.24.

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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