First Eagle Investment Management LLC Sells 73,233 Shares of Quest Resource Holding Co. (NASDAQ:QRHC)

First Eagle Investment Management LLC lowered its position in shares of Quest Resource Holding Co. (NASDAQ:QRHC) by 20.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 283,165 shares of the business services provider’s stock after selling 73,233 shares during the quarter. First Eagle Investment Management LLC owned 1.40% of Quest Resource worth $2,492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of QRHC. Ashton Thomas Private Wealth LLC bought a new stake in Quest Resource in the second quarter worth about $34,000. Rhumbline Advisers bought a new position in shares of Quest Resource in the second quarter valued at approximately $145,000. Russell Investments Group Ltd. boosted its holdings in Quest Resource by 453.5% in the 1st quarter. Russell Investments Group Ltd. now owns 18,448 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 15,115 shares during the period. Privium Fund Management B.V. grew its position in Quest Resource by 72.6% during the second quarter. Privium Fund Management B.V. now owns 18,900 shares of the business services provider’s stock worth $168,000 after buying an additional 7,950 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Quest Resource during the second quarter worth about $406,000. 48.16% of the stock is owned by hedge funds and other institutional investors.

Quest Resource Price Performance

Shares of QRHC opened at $8.94 on Friday. The firm’s 50-day simple moving average is $8.50 and its two-hundred day simple moving average is $8.70. Quest Resource Holding Co. has a fifty-two week low of $6.01 and a fifty-two week high of $10.85. The stock has a market cap of $182.20 million, a PE ratio of -31.93, a price-to-earnings-growth ratio of 2.07 and a beta of 0.65. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.49 and a current ratio of 1.49.

Quest Resource (NASDAQ:QRHC) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.06). The company had revenue of $73.15 million during the quarter, compared to analysts’ expectations of $76.50 million. Quest Resource had a positive return on equity of 5.61% and a negative net margin of 2.29%. Analysts anticipate that Quest Resource Holding Co. will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO David P. Sweitzer sold 22,593 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $8.00, for a total transaction of $180,744.00. Following the sale, the chief operating officer now directly owns 8,511 shares of the company’s stock, valued at $68,088. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Quest Resource news, COO David P. Sweitzer sold 19,841 shares of Quest Resource stock in a transaction that occurred on Monday, June 24th. The shares were 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 owns 8,511 shares of the company’s stock, valued at approximately $71,492.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO David P. Sweitzer sold 22,593 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $8.00, for a total transaction of $180,744.00. Following the sale, the chief operating officer now owns 8,511 shares of the company’s stock, valued at $68,088. The disclosure for this sale can be found here. 22.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on QRHC. Northland Capmk upgraded shares of Quest Resource to a “strong-buy” rating in a research report on Tuesday. Northland Securities assumed coverage on shares of Quest Resource in a research report on Tuesday. They set an “outperform” rating and a $12.50 price target for the company. StockNews.com upgraded Quest Resource from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Craig Hallum cut their target price on shares of Quest Resource from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

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.