Insider Buying: Quest Resource Holding Co. (NASDAQ:QRHC) Major Shareholder Buys 36,859 Shares of Stock

Quest Resource Holding Co. (NASDAQ:QRHC – Get Rating) major shareholder Barry M. Kitt acquired 36,859 shares of the stock in a transaction dated Friday, April 29th. The shares were bought at an average price of $5.51 per share, with a total value of $203,093.09. Following the completion of the transaction, the insider now directly owns 2,464,969 shares of the company’s stock, valued at $13,581,979.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

NASDAQ QRHC opened at $5.70 on Wednesday. The business’s 50 day simple moving average is $6.24. Quest Resource Holding Co. has a one year low of $3.16 and a one year high of $8.30. The firm has a market capitalization of $108.56 million, a PE ratio of 71.26, a P/E/G ratio of 4.30 and a beta of 1.36. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.85.

Quest Resource (NASDAQ:QRHC – Get Rating) last released its earnings results on Thursday, March 17th. The business services provider reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.12. Quest Resource had a return on equity of 5.64% and a net margin of 1.09%. The business had revenue of $46.39 million during the quarter, compared to analysts’ expectations of $36.91 million. During the same quarter last year, the firm posted $0.01 earnings per share. As a group, sell-side analysts predict that Quest Resource Holding Co. will post 0.09 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. grew its stake in Quest Resource by 629.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 9,040 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 7,800 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Quest Resource in the second quarter valued at approximately $73,000. Greenhaven Road Investment Management L.P. acquired a new stake in Quest Resource in the fourth quarter valued at approximately $168,000. Millennium Management LLC acquired a new stake in Quest Resource in the third quarter valued at approximately $274,000. Finally, O Shaughnessy Asset Management LLC grew its stake in Quest Resource by 251.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 51,001 shares of the business services provider’s stock valued at $311,000 after acquiring an additional 36,494 shares during the period. 41.89% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on QRHC shares. HC Wainwright restated a “buy” rating on shares of Quest Resource in a research report on Friday, March 18th. Zacks Investment Research downgraded Quest Resource from a “buy” rating to a “hold” rating in a research report on Saturday, February 12th. StockNews.com started coverage on Quest Resource in a research report on Thursday, March 31st. They set a “hold” rating for the company. Craig Hallum assumed coverage on Quest Resource in a research report on Monday, February 14th. They set a “buy” rating and a $13.00 price objective for the company. Finally, Roth Capital reaffirmed a “buy” rating on shares of Quest Resource in a research note on Friday, March 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $10.69.

Quest Resource Company Profile (Get Rating)

Quest Resource Holding Corporation, together with its subsidiaries, provides solutions for the reuse, recycling, and disposal of various waste streams and recyclables in the United States. It offers disposal and recycling services for motor oil and automotive lubricants, oil filters, scrap tires, oily water, goods destruction, food waste, meat renderings, cooking oil and grease trap waste, plastics, cardboard, metal, glass, mixed paper, construction debris, as well as a large variety of regulated and non-regulated solid, liquid, and gas wastes.

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