Investors Purchase Large Volume of Put Options on Casella Waste Systems (NASDAQ:CWST)

Casella Waste Systems Inc. (NASDAQ:CWST) was the target of unusually large options trading on Thursday. Stock investors acquired 806 put options on the stock. This represents an increase of 1,221% compared to the typical daily volume of 61 put options.

In related news, VP Christopher Heald acquired 8,012 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $12.48 per share, for a total transaction of $99,989.76. Following the completion of the purchase, the vice president now directly owns 50,361 shares of the company’s stock, valued at approximately $628,505.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Doody sold 2,262 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $45.55, for a total transaction of $103,034.10. Following the completion of the transaction, the director now owns 94,416 shares of the company’s stock, valued at approximately $4,300,648.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,256 shares of company stock worth $14,207,139. Insiders own 9.65% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Gradient Investments LLC acquired a new stake in Casella Waste Systems during the third quarter worth approximately $36,000. Dorsey Wright & Associates raised its position in shares of Casella Waste Systems by 33.3% in the 2nd quarter. Dorsey Wright & Associates now owns 1,028 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 257 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Casella Waste Systems in the 2nd quarter valued at approximately $55,000. Flagship Harbor Advisors LLC raised its position in shares of Casella Waste Systems by 43.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,378 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 419 shares during the period. Finally, Quantamental Technologies LLC acquired a new stake in shares of Casella Waste Systems in the 2nd quarter valued at approximately $126,000. 88.92% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:CWST opened at $41.03 on Friday. The company has a 50-day simple moving average of $43.06 and a 200-day simple moving average of $40.98. Casella Waste Systems has a one year low of $24.61 and a one year high of $47.72. The company has a debt-to-equity ratio of 5.71, a quick ratio of 0.82 and a current ratio of 0.88. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 67.26 and a beta of 0.78.

Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Thursday, August 1st. The industrial products company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Casella Waste Systems had a net margin of 2.69% and a return on equity of 76.51%. The business had revenue of $187.46 million during the quarter, compared to analysts’ expectations of $184.08 million. During the same period in the prior year, the company earned $0.22 earnings per share. The business’s revenue was up 13.2% compared to the same quarter last year. As a group, research analysts forecast that Casella Waste Systems will post 0.84 EPS for the current fiscal year.

Several equities analysts have issued reports on CWST shares. Raymond James upped their price objective on shares of 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. Zacks Investment Research upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Monday, October 7th. ValuEngine downgraded shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub downgraded shares of Casella Waste Systems from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Casella Waste Systems currently has a consensus rating of “Hold” and a consensus price target of $45.25.

About Casella Waste Systems

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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