Casella Waste Systems Inc. (NASDAQ:CWST) Sees Significant Growth in Short Interest

Casella Waste Systems Inc. (NASDAQ:CWST) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,110,000 shares, a growth of 25.6% from the August 30th total of 884,100 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average daily volume of 324,300 shares, the days-to-cover ratio is currently 3.4 days.

In other Casella Waste Systems news, Director William P. Hulligan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.60, for a total value of $446,000.00. Following the sale, the director now directly owns 42,031 shares in the company, valued at $1,874,582.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John W. Casella sold 98,844 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $44.70, for a total value of $4,418,326.80. Following the completion of the sale, the chief executive officer now owns 286,248 shares in the company, valued at $12,795,285.60. The disclosure for this sale can be found here. Insiders have sold 312,256 shares of company stock worth $14,207,139 over the last 90 days. 9.65% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Gradient Investments LLC acquired a new position in shares of Casella Waste Systems during the third quarter valued at $36,000. Macquarie Group Ltd. increased its holdings in shares of Casella Waste Systems by 1.7% during the second quarter. Macquarie Group Ltd. now owns 1,508,847 shares of the industrial products company’s stock valued at $59,795,000 after purchasing an additional 25,642 shares during the period. Atria Investments LLC acquired a new position in shares of Casella Waste Systems during the second quarter valued at $209,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Casella Waste Systems by 9,328.1% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,034 shares of the industrial products company’s stock valued at $246,000 after purchasing an additional 5,970 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Casella Waste Systems during the second quarter valued at $216,000. 88.85% of the stock is currently owned by institutional investors.

CWST stock traded down $0.77 during mid-day trading on Friday, reaching $43.03. The company had a trading volume of 319,057 shares, compared to its average volume of 342,497. The company has a quick ratio of 0.82, a current ratio of 0.88 and a debt-to-equity ratio of 5.71. The stock has a market capitalization of $2.05 billion, a P/E ratio of 70.54 and a beta of 0.78. Casella Waste Systems has a one year low of $24.61 and a one year high of $47.72. The stock’s 50-day simple moving average is $43.70 and its two-hundred day simple moving average is $40.47.

Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Thursday, August 1st. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $187.46 million for the quarter, compared to analysts’ expectations of $184.08 million. Casella Waste Systems had a return on equity of 76.51% and a net margin of 2.69%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. On average, research analysts forecast that Casella Waste Systems will post 0.83 EPS for the current fiscal year.

A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Casella Waste Systems from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Monday, October 7th. ValuEngine cut Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James raised their target price on Casella Waste Systems from $43.00 to $52.00 and gave the company a “strong-buy” rating in a research note on Monday, August 5th. Finally, BidaskClub cut Casella Waste Systems from a “hold” rating to a “sell” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Casella Waste Systems presently has a consensus rating of “Hold” and an average target price of $45.25.

Casella Waste Systems Company Profile

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

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