Y Intercept Hong Kong Ltd Makes New Investment in Casella Waste Systems, Inc. $CWST

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Casella Waste Systems, buying 46,878 shares worth about $3.7 million in the first quarter, according to its latest 13F filing.
• Insiders sold shares recently: Director Michael K. Burke sold 2,305 shares and CEO Edmond Coletta sold 12,500 shares, reducing their ownership stakes.
• Casella Waste Systems beat quarterly expectations with EPS of $0.20 versus $0.10 expected, while revenue rose 9.6% year over year to $457.33 million; analysts currently rate the stock a Moderate Buy with an average target price of $110.12.

Y Intercept Hong Kong Ltd bought a new position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 46,878 shares of the industrial products company's stock, valued at approximately $3,719,000. Y Intercept Hong Kong Ltd owned about 0.07% of Casella Waste Systems as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CWST. Geneos Wealth Management Inc. grew its stake in Casella Waste Systems by 301.6% in the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock worth $27,000 after purchasing an additional 184 shares during the period. Hilton Head Capital Partners LLC purchased a new position in Casella Waste Systems during the fourth quarter valued at $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Casella Waste Systems during the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Casella Waste Systems by 235.3% during 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 in the last quarter. Finally, SHP Wealth Management purchased a new stake in shares of Casella Waste Systems in the 4th quarter worth about $43,000. Institutional investors own 99.51% of the company's stock.

Insider Buying and Selling at Casella Waste Systems

In other news, Director Michael K. Burke sold 2,305 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total value of $201,825.80. Following the sale, the director directly owned 14,048 shares in the company, valued at approximately $1,230,042.88. This represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Edmond Coletta sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total value of $1,119,500.00. Following the sale, the chief executive officer directly owned 140,118 shares of the company's stock, valued at $12,548,968.08. This represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Cowen reaffirmed a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Zacks Research downgraded Casella Waste Systems from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 9th. Barclays upgraded Casella Waste Systems from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $101.00 to $102.00 in a research note on Monday, May 4th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. Finally, UBS Group lowered their target price on shares of Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $110.12.

Casella Waste Systems Stock Performance

Shares of NASDAQ:CWST traded up $1.42 during trading on Tuesday, hitting $97.69. The company's stock had a trading volume of 137,272 shares, compared to its average volume of 768,046. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 884.81 and a beta of 0.74. The company has a 50-day moving average of $86.95 and a 200-day moving average of $91.72. Casella Waste Systems, Inc. has a 12 month low of $74.05 and a 12 month high of $113.95.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.10. The firm had revenue of $457.33 million during the quarter, compared to the consensus estimate of $454.49 million. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. On average, sell-side analysts expect that Casella Waste Systems, Inc. will post 1.12 earnings per share for the current year.

Casella Waste Systems Company 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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