Flagship Harbor Advisors LLC Sells 4,379 Shares of Celestica, Inc. $CLS

Key Points

• Flagship Harbor Advisors LLC cut its stake in Celestica by 93.6%, selling 4,379 shares in Q4 and now holding 300 shares worth about $89,000.
• Insider selling is significant: President Todd C. Cooper and Yann L. Etienvre sold shares on Feb 4, and insiders have sold 297,923 shares (~$88.0M) in the past three months, leaving insiders with 0.52% ownership.
• Analyst sentiment is a "Moderate Buy" with an average price target of $355.39; the stock is trading near its 52‑week high (~$350.64 open), with a market cap of about $40.3B and a P/E of ~48.8.

Flagship Harbor Advisors LLC cut its stake in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 93.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300 shares of the technology company's stock after selling 4,379 shares during the quarter. Flagship Harbor Advisors LLC's holdings in Celestica were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Portside Wealth Group LLC grew its holdings in Celestica by 4.8% during the 4th quarter. Portside Wealth Group LLC now owns 1,034 shares of the technology company's stock worth $306,000 after acquiring an additional 47 shares during the last quarter. Trust Investment Advisors grew its holdings in Celestica by 3.2% during the 4th quarter. Trust Investment Advisors now owns 21,149 shares of the technology company's stock worth $6,254,000 after acquiring an additional 647 shares during the last quarter. Nvwm LLC bought a new stake in Celestica during the 4th quarter worth approximately $244,000. Stratos Wealth Partners LTD. grew its holdings in Celestica by 0.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 68,539 shares of the technology company's stock worth $20,261,000 after acquiring an additional 291 shares during the last quarter. Finally, Global Trust Asset Management LLC grew its holdings in Celestica by 20.9% during the 4th quarter. Global Trust Asset Management LLC now owns 8,529 shares of the technology company's stock worth $2,521,000 after acquiring an additional 1,474 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

Celestica Trading Down 0.2%

NYSE:CLS opened at $350.64 on Monday. The firm's fifty day moving average is $285.75 and its 200-day moving average is $295.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. Celestica, Inc. has a 52 week low of $75.15 and a 52 week high of $363.40. The firm has a market cap of $40.31 billion, a P/E ratio of 48.84 and a beta of 1.88.

Insider Activity

In other news, President Todd C. Cooper sold 1,065 shares of the company's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $301,938.15. Following the sale, the president directly owned 108,970 shares of the company's stock, valued at approximately $30,894,084.70. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Yann L. Etienvre sold 1,145 shares of the company's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $324,618.95. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CLS shares. Susquehanna started coverage on shares of Celestica in a report on Wednesday, April 1st. They set a "positive" rating and a $375.00 target price on the stock. Canadian Imperial Bank of Commerce reduced their target price on shares of Celestica from $400.00 to $360.00 and set an "outperform" rating on the stock in a report on Wednesday, March 11th. BMO Capital Markets reissued an "outperform" rating on shares of Celestica in a report on Monday, January 26th. Canaccord Genuity Group boosted their target price on shares of Celestica from $400.00 to $430.00 and gave the stock a "buy" rating in a report on Monday, February 2nd. Finally, Zacks Research lowered shares of Celestica from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Celestica presently has an average rating of "Moderate Buy" and an average price target of $355.39.

Celestica Profile

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.

Want to see what other hedge funds are holding CLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.