Summit Creek Advisors LLC Acquires Shares of 98,633 Casella Waste Systems, Inc. $CWST

Summit Creek Advisors LLC acquired a new stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 98,633 shares of the industrial products company’s stock, valued at approximately $9,564,000. Casella Waste Systems accounts for about 3.3% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 3rd largest position.

A number of other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Casella Waste Systems by 57.7% during the 1st quarter. AQR Capital Management LLC now owns 9,283 shares of the industrial products company’s stock valued at $1,035,000 after purchasing an additional 3,395 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Casella Waste Systems by 1,601.9% in the 1st quarter. Jones Financial Companies Lllp now owns 5,412 shares of the industrial products company’s stock worth $603,000 after buying an additional 5,094 shares in the last quarter. Jane Street Group LLC boosted its position in Casella Waste Systems by 3,226.1% in the 1st quarter. Jane Street Group LLC now owns 69,849 shares of the industrial products company’s stock valued at $7,789,000 after buying an additional 67,749 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock valued at $27,000 after buying an additional 184 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Casella Waste Systems during the second quarter valued at about $63,000. 99.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Zacks Research raised Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded Casella Waste Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on Casella Waste Systems from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. TD Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Finally, UBS Group reduced their target price on Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating for the company in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.75.

Insider Buying and Selling

In other Casella Waste Systems news, Director Michael K. Burke sold 2,305 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total transaction of $201,825.80. Following the completion of the sale, the director owned 14,048 shares in the company, valued at $1,230,042.88. The trade was a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas R. Casella sold 1,343 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $91.12, for a total transaction of $122,374.16. Following the sale, the director directly owned 90,141 shares in the company, valued at $8,213,647.92. This trade represents a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,805 shares of company stock valued at $1,704,245 over the last quarter. Company insiders own 3.78% of the company’s stock.

Casella Waste Systems Stock Performance

Shares of Casella Waste Systems stock opened at $89.91 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.99 and a current ratio of 0.99. Casella Waste Systems, Inc. has a 1 year low of $74.05 and a 1 year high of $107.96. The firm’s 50-day simple moving average is $91.99 and its 200-day simple moving average is $89.68. The firm has a market cap of $5.72 billion, a PE ratio of 999.11 and a beta of 0.74.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $543.75 million during the quarter, compared to the consensus estimate of $526.43 million. Casella Waste Systems had a return on equity of 5.32% and a net margin of 0.29%.The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. Equities analysts forecast that Casella Waste Systems, Inc. will post 1.24 earnings per share for the current fiscal year.

About Casella Waste Systems

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.