Hudson Bay Capital Management LP Sells 31,913 Shares of Celestica, Inc. $CLS

Hudson Bay Capital Management LP trimmed its position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 31.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,644 shares of the technology company’s stock after selling 31,913 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Celestica were worth $16,913,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its position in Celestica by 471.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,146,928 shares of the technology company’s stock valued at $775,133,000 after purchasing an additional 2,596,318 shares during the period. Viking Global Investors LP acquired a new position in Celestica during the third quarter worth $424,459,000. Norges Bank acquired a new position in Celestica during the second quarter worth $236,069,000. SRS Investment Management LLC bought a new position in shares of Celestica in the second quarter valued at $135,289,000. Finally, Picton Mahoney Asset Management bought a new position in shares of Celestica in the second quarter valued at $90,425,000. 67.38% of the stock is currently owned by institutional investors.

Celestica Stock Performance

Shares of Celestica stock opened at $284.44 on Friday. The business’s fifty day simple moving average is $290.94 and its 200 day simple moving average is $288.64. The firm has a market capitalization of $32.72 billion, a P/E ratio of 39.62 and a beta of 1.88. Celestica, Inc. has a 12 month low of $58.05 and a 12 month high of $363.40. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34.

Analyst Ratings Changes

CLS has been the subject of several recent research reports. Citigroup decreased their target price on shares of Celestica from $375.00 to $338.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Barclays raised their price target on shares of Celestica from $359.00 to $391.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Zacks Research raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Celestica in a research note on Wednesday, January 21st. Finally, BMO Capital Markets restated an “outperform” rating on shares of Celestica in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.24.

Insider Activity

In related news, President Todd C. Cooper sold 1,065 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total transaction of $301,938.15. Following the completion of the transaction, the president owned 108,970 shares in the company, valued at approximately $30,894,084.70. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Jason Phillips sold 100,000 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the transaction, the president owned 12,584 shares of the company’s stock, valued at approximately $3,887,449.28. The trade was a 88.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 297,923 shares of company stock valued at $88,027,459 in the last ninety days. 0.52% of the stock is currently owned by insiders.

Celestica Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.