Cinctive Capital Management LP Buys New Stake in Casella Waste Systems, Inc. (NASDAQ:CWST)

Cinctive Capital Management LP bought a new stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,904 shares of the industrial products company's stock, valued at approximately $1,284,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Benjamin Edwards Inc. bought a new stake in Casella Waste Systems in the 3rd quarter valued at $1,053,000. FSA Wealth Management LLC bought a new stake in Casella Waste Systems in the 3rd quarter valued at $1,375,000. Wasatch Advisors LP increased its holdings in Casella Waste Systems by 0.3% in the 3rd quarter. Wasatch Advisors LP now owns 1,739,222 shares of the industrial products company's stock valued at $173,035,000 after acquiring an additional 4,462 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Casella Waste Systems in the 3rd quarter valued at $2,154,000. Finally, Verition Fund Management LLC bought a new stake in Casella Waste Systems in the 3rd quarter valued at $378,000. 99.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Casella Waste Systems

In other news, SVP Paul Ligon sold 1,730 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $106.81, for a total value of $184,781.30. Following the completion of the sale, the senior vice president now owns 21,085 shares of the company's stock, valued at approximately $2,252,088.85. This represents a 7.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.24% of the stock is owned by corporate insiders.

Casella Waste Systems Trading Down 1.6 %

NASDAQ:CWST traded down $1.81 during mid-day trading on Wednesday, hitting $112.12. 250,951 shares of the stock traded hands, compared to its average volume of 314,714. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 949.42, a PEG ratio of 6.75 and a beta of 1.02. Casella Waste Systems, Inc. has a 52 week low of $80.04 and a 52 week high of $114.88. The firm's 50 day moving average is $104.46 and its two-hundred day moving average is $102.88. The company has a quick ratio of 2.48, a current ratio of 2.55 and a debt-to-equity ratio of 0.68.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $411.63 million for the quarter, compared to the consensus estimate of $412.59 million. Casella Waste Systems had a net margin of 0.46% and a return on equity of 3.04%. The business's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, equities research analysts predict that Casella Waste Systems, Inc. will post 0.65 earnings per share for the current year.

Analyst Ratings Changes

CWST has been the topic of a number of research reports. Raymond James boosted their target price on shares of Casella Waste Systems from $121.00 to $122.00 and gave the stock a "strong-buy" rating in a report on Thursday, September 19th. William Blair initiated coverage on shares of Casella Waste Systems in a report on Thursday, October 3rd. They issued an "outperform" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Casella Waste Systems from $114.00 to $107.00 and set a "hold" rating on the stock in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $111.50.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.