ExodusPoint Capital Management LP Cuts Stock Holdings in Celestica Inc. (NYSE:CLS)

ExodusPoint Capital Management LP lessened its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 66.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,000 shares of the technology company’s stock after selling 50,798 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Celestica were worth $2,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC purchased a new stake in shares of Celestica in the fourth quarter valued at approximately $385,000. Raymond James Financial Inc. purchased a new stake in shares of Celestica during the 4th quarter worth $47,685,000. Schechter Investment Advisors LLC acquired a new position in shares of Celestica during the 4th quarter worth $294,000. XTX Topco Ltd purchased a new position in shares of Celestica in the 3rd quarter valued at about $1,580,000. Finally, American Century Companies Inc. lifted its stake in shares of Celestica by 16.4% in the fourth quarter. American Century Companies Inc. now owns 219,062 shares of the technology company’s stock valued at $20,217,000 after purchasing an additional 30,851 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Trading Up 6.0 %

Shares of CLS stock opened at $70.14 on Tuesday. Celestica Inc. has a twelve month low of $40.25 and a twelve month high of $144.27. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 18.75 and a beta of 2.09. The firm has a 50-day moving average price of $103.28 and a 200 day moving average price of $89.53. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Activity

In other news, President Todd C. Cooper sold 9,538 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the sale, the president now owns 175,426 shares in the company, valued at $22,373,832.04. This trade represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Mionis sold 441,325 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the transaction, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $64,981,670.76. The trade was a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 934,381 shares of company stock valued at $116,673,769 over the last 90 days. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 target price on the stock. Canaccord Genuity Group raised their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. TD Securities lifted their price objective on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus upped their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their price target on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.