Key Points
- Director David Vincent Cullen sold 7,025 shares of Caesarstone on May 19 at an average price of $1.57, reducing his stake by 91.23% to 675 shares.
- Caesarstone recently beat EPS estimates in its latest quarterly report, posting a loss of $0.32 per share versus expectations for a $0.35 loss, though revenue came in below forecasts at $88.71 million.
- Sentiment remains weak, with Wall Street Zen downgrading the stock to “strong sell” and MarketBeat data showing a consensus rating of “Sell.”
Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) Director David Vincent Cullen sold 7,025 shares of Caesarstone stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $1.57, for a total value of $11,029.25. Following the sale, the director directly owned 675 shares in the company, valued at $1,059.75. This trade represents a 91.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Caesarstone Trading Up 1.1%
Shares of CSTE opened at $1.76 on Friday. The business's 50 day moving average is $1.31 and its 200 day moving average is $1.54. The company has a market capitalization of $60.84 million, a PE ratio of -0.42 and a beta of 0.23. Caesarstone Ltd. has a 12-month low of $0.56 and a 12-month high of $2.58.
Caesarstone (NASDAQ:CSTE - Get Free Report) last issued its earnings results on Thursday, May 14th. The construction company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.03. The company had revenue of $88.71 million for the quarter, compared to the consensus estimate of $97.80 million. Caesarstone had a negative return on equity of 29.41% and a negative net margin of 37.70%.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen cut Caesarstone from a "sell" rating to a "strong sell" rating in a report on Sunday, May 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Sell".
Check Out Our Latest Report on CSTE
Hedge Funds Weigh In On Caesarstone
Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of Caesarstone in the 4th quarter worth approximately $30,000. Pitcairn Co. purchased a new position in shares of Caesarstone in the 2nd quarter worth approximately $31,000. Qube Research & Technologies Ltd purchased a new position in shares of Caesarstone in the 2nd quarter worth approximately $56,000. GSA Capital Partners LLP purchased a new position in shares of Caesarstone in the 3rd quarter worth approximately $89,000. Finally, Citadel Advisors LLC boosted its holdings in shares of Caesarstone by 163.7% in the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company's stock worth $101,000 after purchasing an additional 39,474 shares during the period. Hedge funds and other institutional investors own 33.70% of the company's stock.
Caesarstone Company Profile
(
Get Free Report)
Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company's core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone's products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.
Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.
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