Hillsdale Investment Management Inc. Cuts Position in Celestica Inc. (NYSE:CLS)

Hillsdale Investment Management Inc. trimmed its position in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 77.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,333 shares of the technology company's stock after selling 472,650 shares during the quarter. Celestica makes up 0.6% of Hillsdale Investment Management Inc.'s investment portfolio, making the stock its 26th largest position. Hillsdale Investment Management Inc. owned approximately 0.12% of Celestica worth $12,384,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Sei Investments Co. grew its holdings in shares of Celestica by 4.2% during the fourth quarter. Sei Investments Co. now owns 303,937 shares of the technology company's stock worth $28,053,000 after buying an additional 12,204 shares during the last quarter. American Century Companies Inc. increased its stake in Celestica by 16.4% in the 4th quarter. American Century Companies Inc. now owns 219,062 shares of the technology company's stock valued at $20,217,000 after buying an additional 30,851 shares during the period. Virtu Financial LLC purchased a new position in Celestica during the 4th quarter worth $517,000. Sciencast Management LP lifted its stake in shares of Celestica by 133.4% in the 4th quarter. Sciencast Management LP now owns 33,092 shares of the technology company's stock worth $3,054,000 after acquiring an additional 18,913 shares during the period. Finally, Mindset Wealth Management LLC purchased a new stake in shares of Celestica in the fourth quarter valued at about $258,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

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Insider Activity

In other Celestica news, President Todd C. Cooper sold 9,538 shares of Celestica stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the sale, the president now directly owns 175,426 shares of the company's stock, valued at approximately $22,373,832.04. The trade was a 5.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Mionis sold 441,325 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the transaction, the chief executive officer now owns 531,417 shares of the company's stock, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 over the last 90 days. Insiders own 1.00% of the company's stock.

Celestica Price Performance

NYSE:CLS traded down $9.64 during trading hours on Wednesday, reaching $87.73. 5,565,615 shares of the company traded hands, compared to its average volume of 2,763,696. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm's 50-day moving average is $109.61 and its 200-day moving average is $87.50. The stock has a market cap of $10.17 billion, a P/E ratio of 23.46 and a beta of 2.21. Celestica Inc. has a 1-year low of $40.25 and a 1-year high of $144.27.

Analyst Upgrades and Downgrades

CLS has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, December 20th. CIBC raised Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective on the stock in a report on Friday, January 31st. Barclays raised their target price on Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Stifel Nicolaus upped their price target on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, TD Securities raised their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Celestica currently has a consensus rating of "Moderate Buy" and a consensus 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.