Pinnbrook Capital Management LP Buys New Position in Celestica Inc. (NYSE:CLS)

Pinnbrook Capital Management LP acquired a new position in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 43,341 shares of the technology company's stock, valued at approximately $4,000,000.

A number of other hedge funds have also modified their holdings of the stock. D.A. Davidson & CO. increased its position in shares of Celestica by 17.0% in the fourth quarter. D.A. Davidson & CO. now owns 14,250 shares of the technology company's stock worth $1,315,000 after acquiring an additional 2,075 shares in the last quarter. Truist Financial Corp boosted its stake in Celestica by 12.8% in the 4th quarter. Truist Financial Corp now owns 12,579 shares of the technology company's stock worth $1,161,000 after purchasing an additional 1,424 shares during the period. Valmark Advisers Inc. grew its position in Celestica by 1.9% during the 4th quarter. Valmark Advisers Inc. now owns 20,350 shares of the technology company's stock worth $1,878,000 after purchasing an additional 373 shares in the last quarter. Nkcfo LLC acquired a new stake in Celestica during the 4th quarter valued at $323,000. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in shares of Celestica by 2.9% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 15,902 shares of the technology company's stock valued at $1,468,000 after purchasing an additional 447 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Celestica

In related news, CFO Mandeep Chawla sold 9,483 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,209,461.82. Following the completion of the sale, the chief financial officer now directly owns 90,771 shares in the company, valued at approximately $11,576,933.34. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Mionis sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the sale, the chief executive officer now directly owns 456,417 shares of the company's stock, valued at $64,487,157.93. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 over the last three months. Corporate insiders own 1.00% of the company's stock.

Celestica Stock Down 4.5 %

Shares of Celestica stock traded down $5.61 during midday trading on Friday, reaching $119.41. 4,461,770 shares of the company's stock traded hands, compared to its average volume of 4,805,599. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica Inc. has a 52 week low of $38.80 and a 52 week high of $144.27. The company's 50 day simple moving average is $110.78 and its 200 day simple moving average is $80.16. The company has a market cap of $13.89 billion, a price-to-earnings ratio of 31.93 and a beta of 2.27.

Analyst Upgrades and Downgrades

CLS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. started coverage on Celestica in a report on Friday. They set an "overweight" rating and a $166.00 price target on the stock. CIBC raised Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price on the stock in a research note on Friday, January 31st. Canaccord Genuity Group increased their price target on shares of Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Royal Bank of Canada raised their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Finally, UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a "neutral" rating and a $95.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $110.83.

Celestica Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.