Lombard Odier Asset Management USA Corp Has $2.14 Million Stock Holdings in Calumet, Inc. $CLMT

Key Points

• Lombard Odier Asset Management USA Corp cut its Calumet stake by 40.5% in the first quarter, selling 40,561 shares and ending with 59,534 shares worth about $2.14 million.
• Insider selling has also been notable: Director Daniel J. Sajkowski and major shareholder Group Heritage both reduced their holdings in recent transactions.
• Calumet reported a much wider-than-expected quarterly loss of $3.64 per share, even though revenue came in slightly above estimates; analysts currently rate the stock Hold on average with a $36.75 target price.

Lombard Odier Asset Management USA Corp decreased its position in shares of Calumet, Inc. (NASDAQ:CLMT - Free Report) by 40.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,534 shares of the oil and gas company's stock after selling 40,561 shares during the quarter. Lombard Odier Asset Management USA Corp owned 0.07% of Calumet worth $2,137,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CLMT. Islay Capital Management LLC acquired a new position in Calumet during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd lifted its stake in Calumet by 294.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 1,229 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Calumet in the 4th quarter valued at $34,000. Covestor Ltd boosted its holdings in shares of Calumet by 29.1% in the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 492 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Calumet in the 3rd quarter valued at $59,000. 34.41% of the stock is owned by institutional investors.

Insider Transactions at Calumet

In other news, Director Daniel J. Sajkowski sold 4,240 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total transaction of $153,318.40. Following the sale, the director directly owned 77,718 shares in the company, valued at approximately $2,810,282.88. The trade was a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Group Heritage sold 626,998 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $32.54, for a total value of $20,402,514.92. Following the completion of the transaction, the insider directly owned 12,980,211 shares of the company's stock, valued at $422,376,065.94. This represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. 4.07% of the stock is owned by corporate insiders.

Calumet Stock Performance

NASDAQ CLMT opened at $41.69 on Friday. The firm's fifty day moving average price is $36.34 and its two-hundred day moving average price is $31.10. The stock has a market cap of $3.63 billion, a PE ratio of -19.30 and a beta of 0.72. Calumet, Inc. has a fifty-two week low of $12.94 and a fifty-two week high of $45.20.

Calumet (NASDAQ:CLMT - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The oil and gas company reported ($3.64) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($3.31). The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm earned ($1.87) EPS. The business's revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Calumet, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings raised Calumet from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, May 11th. The Goldman Sachs Group cut Calumet from a "buy" rating to a "neutral" rating and set a $36.00 target price on the stock. in a research report on Friday, April 24th. TD Cowen reissued a "hold" rating on shares of Calumet in a research note on Wednesday, June 3rd. Finally, HC Wainwright increased their target price on shares of Calumet from $33.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, March 30th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Calumet presently has an average rating of "Hold" and an average target price of $36.75.

Calumet Profile

Calumet Specialty Products Partners, L.P. NASDAQ: CLMT is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet's product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.

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.