David Vincent Cullen Sells 7,025 Shares of Caesarstone (NASDAQ:CSTE) Stock

Caesarstone Ltd. (NASDAQ:CSTE) Director David Vincent Cullen sold 7,025 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $1.57, for a total transaction of $11,029.25. Following the completion of the transaction, the director owned 675 shares of the company’s stock, valued at $1,059.75. This trade represents a 91.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Caesarstone Stock Up 9.7%

Caesarstone stock opened at $1.93 on Friday. The stock has a market capitalization of $66.72 million, a PE ratio of -0.46 and a beta of 0.23. Caesarstone Ltd. has a twelve month low of $0.56 and a twelve month high of $2.58. The company has a 50 day moving average of $1.33 and a 200-day moving average of $1.55.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings results on Thursday, May 14th. The construction company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.03. The company had revenue of $88.71 million during the quarter, compared to analysts’ expectations of $97.80 million. Caesarstone had a negative net margin of 37.70% and a negative return on equity of 29.41%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Caesarstone during the second quarter worth $263,000. Citadel Advisors LLC boosted its holdings in Caesarstone by 163.7% during the third 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 last quarter. GSA Capital Partners LLP acquired a new position in Caesarstone during the third quarter worth $89,000. Qube Research & Technologies Ltd acquired a new position in Caesarstone during the second quarter worth $56,000. Finally, Virtu Financial LLC acquired a new position in Caesarstone during the fourth quarter worth $30,000. Institutional investors and hedge funds own 33.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of 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, the stock currently has a consensus rating of “Sell”.

About Caesarstone

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.