Chapin Davis Inc. Reduces Stock Holdings in Quest Resource Holding Co. (NASDAQ:QRHC)

Chapin Davis Inc. trimmed its holdings in shares of Quest Resource Holding Co. (NASDAQ:QRHC) by 28.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,808 shares of the business services provider’s stock after selling 11,828 shares during the quarter. Chapin Davis Inc. owned 0.15% of Quest Resource worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QRHC. Barclays PLC acquired a new stake in Quest Resource during the 3rd quarter worth about $39,000. Quadrature Capital Ltd acquired a new stake in Quest Resource during the 3rd quarter worth about $77,000. Finally, Ancora Advisors LLC acquired a new stake in Quest Resource during the 3rd quarter worth about $283,000. 48.16% of the stock is currently owned by hedge funds and other institutional investors.

Quest Resource Trading Down 0.9 %

Shares of QRHC stock opened at $8.72 on Tuesday. The business has a 50-day simple moving average of $9.29 and a 200-day simple moving average of $8.09. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.46 and a quick ratio of 1.46. Quest Resource Holding Co. has a 52-week low of $6.01 and a 52-week high of $10.85.

Quest Resource (NASDAQ:QRHC) last released its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. Quest Resource had a positive return on equity of 6.70% and a negative net margin of 2.06%. The company had revenue of $72.65 million during the quarter, compared to analysts’ expectations of $72.30 million. Research analysts predict that Quest Resource Holding Co. will post 0.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO David P. Sweitzer sold 19,841 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $8.40, for a total value of $166,664.40. Following the completion of the sale, the chief operating officer now directly owns 8,511 shares in the company, valued at $71,492.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO David P. Sweitzer sold 19,841 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $8.40, for a total value of $166,664.40. Following the completion of the transaction, the chief operating officer now directly owns 8,511 shares in the company, valued at $71,492.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David P. Sweitzer sold 16,047 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $8.52, for a total value of $136,720.44. Following the transaction, the chief operating officer now owns 8,511 shares in the company, valued at $72,513.72. The disclosure for this sale can be found here. In the last three months, insiders sold 47,073 shares of company stock worth $404,609. Corporate insiders own 22.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Craig Hallum lifted their price target on Quest Resource from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 10th.

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.