LPL Financial LLC Acquires 81,050 Shares of Quest Resource Holding Co. (NASDAQ:QRHC)

LPL Financial LLC boosted its holdings in Quest Resource Holding Co. (NASDAQ:QRHC) by 278.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,184 shares of the business services provider’s stock after acquiring an additional 81,050 shares during the period. LPL Financial LLC owned 0.54% of Quest Resource worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in QRHC. Geode Capital Management LLC raised its position in shares of Quest Resource by 1.1% in the third quarter. Geode Capital Management LLC now owns 352,670 shares of the business services provider’s stock valued at $2,815,000 after purchasing an additional 3,731 shares during the period. Truist Financial Corp acquired a new position in Quest Resource in the 4th quarter valued at about $1,605,000. State Street Corp raised its holdings in Quest Resource by 2.5% in the 3rd quarter. State Street Corp now owns 175,345 shares of the business services provider’s stock valued at $1,399,000 after acquiring an additional 4,235 shares during the period. Prescott Group Capital Management L.L.C. lifted its position in Quest Resource by 10.1% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 66,078 shares of the business services provider’s stock worth $430,000 after acquiring an additional 6,073 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Quest Resource by 24.0% during the fourth quarter. Bank of New York Mellon Corp now owns 42,872 shares of the business services provider’s stock worth $279,000 after acquiring an additional 8,300 shares during the period. Institutional investors and hedge funds own 48.16% of the company’s stock.

Quest Resource Stock Performance

Shares of NASDAQ:QRHC opened at $2.42 on Wednesday. Quest Resource Holding Co. has a 12-month low of $1.91 and a 12-month high of $10.85. The company’s 50 day moving average price is $3.31 and its two-hundred day moving average price is $5.57. The firm has a market cap of $49.87 million, a PE ratio of -6.54, a PEG ratio of 0.76 and a beta of 0.47. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.15.

Quest Resource (NASDAQ:QRHC) last issued its quarterly earnings results on Wednesday, March 12th. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $69.97 million for the quarter, compared to analyst estimates of $73.63 million. Quest Resource had a positive return on equity of 3.11% and a negative net margin of 2.74%. Equities research analysts predict that Quest Resource Holding Co. will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Perry W. Moss purchased 16,338 shares of Quest Resource stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average price of $3.01 per share, for a total transaction of $49,177.38. Following the transaction, the chief executive officer now owns 257,933 shares of the company’s stock, valued at approximately $776,378.33. The trade was a 6.76 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have purchased 23,912 shares of company stock worth $71,046. Company insiders own 22.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on QRHC shares. Northland Securities set a $6.50 target price on Quest Resource in a research note on Thursday, March 13th. StockNews.com lowered Quest Resource from a “hold” rating to a “sell” rating in a report on Thursday, March 13th.

Quest Resource Profile

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. The company provides 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.