Callodine Capital Management LP Takes Position in Stericycle Inc (NASDAQ:SRCL)

Callodine Capital Management LP purchased a new position in Stericycle Inc (NASDAQ:SRCL) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 145,000 shares of the business services provider’s stock, valued at approximately $7,891,000. Stericycle comprises approximately 3.9% of Callodine Capital Management LP’s investment portfolio, making the stock its 10th biggest holding.

Other institutional investors have also made changes to their positions in the company. JOYN Advisors Inc. increased its holdings in shares of Stericycle by 1,253.7% in the fourth quarter. JOYN Advisors Inc. now owns 731 shares of the business services provider’s stock worth $27,000 after acquiring an additional 677 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Stericycle by 159.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 807 shares of the business services provider’s stock worth $30,000 after acquiring an additional 496 shares in the last quarter. Pearl River Capital LLC bought a new stake in shares of Stericycle in the fourth quarter worth about $41,000. Blue Sky Asset Management LLC bought a new stake in shares of Stericycle in the first quarter worth about $60,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Stericycle by 1,186.8% in the first quarter. Quadrant Capital Group LLC now owns 1,171 shares of the business services provider’s stock worth $61,000 after acquiring an additional 1,080 shares in the last quarter. Institutional investors own 96.52% of the company’s stock.

NASDAQ:SRCL opened at $44.89 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.17. The stock has a market cap of $4.10 billion, a P/E ratio of 10.09, a PEG ratio of 1.77 and a beta of 1.24. Stericycle Inc has a 52-week low of $34.36 and a 52-week high of $71.43.

Stericycle (NASDAQ:SRCL) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.30). The firm had revenue of $830.10 million for the quarter, compared to the consensus estimate of $866.19 million. Stericycle had a positive return on equity of 12.56% and a negative net margin of 8.92%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 earnings per share. On average, research analysts predict that Stericycle Inc will post 3.31 earnings per share for the current year.

Several brokerages have issued reports on SRCL. Zacks Investment Research upgraded Stericycle from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. BidaskClub upgraded Stericycle from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Robert W. Baird downgraded Stericycle from a “neutral” rating to an “underperform” rating and set a $44.00 price target for the company. in a report on Wednesday, April 17th. ValuEngine downgraded Stericycle from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Finally, BMO Capital Markets increased their price target on Stericycle from $41.00 to $45.00 and gave the stock a “market perform” rating in a report on Monday, March 4th. Five analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $59.00.

In related news, Director Mark C. Miller sold 260,314 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $57.18, for a total transaction of $14,884,754.52. Following the completion of the transaction, the director now directly owns 325,848 shares in the company, valued at $18,631,988.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by company insiders.

COPYRIGHT VIOLATION WARNING: “Callodine Capital Management LP Takes Position in Stericycle Inc (NASDAQ:SRCL)” was first posted by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.com-unik.info/2019/06/13/callodine-capital-management-lp-takes-position-in-stericycle-inc-nasdaqsrcl.html.

Stericycle Company Profile

Stericycle, Inc, together with its subsidiaries, provides regulated and compliance solutions to the healthcare, retail, and commercial businesses in the United States and internationally. It operates through three segments: Domestic and Canada Regulated Waste and Compliance; International Regulated Waste and Compliance; and Domestic Communication and Related Services.

Further Reading: Why do companies engage in swaps?

Want to see what other hedge funds are holding SRCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stericycle Inc (NASDAQ:SRCL).

Institutional Ownership by Quarter for Stericycle (NASDAQ:SRCL)

Receive News & Ratings for Stericycle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stericycle and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit