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US Ecology Inc. (ECOL): Bares Capital Management Cuts Exposure

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A newly amended 13G filing with the US Securities and Exchange Commission revealed that Brian Bares Bares Capital Management has reduced its position in US Ecology Inc. (NASDAQ:ECOL), below the 5% threshold. The fund previously held 1.24 million shares of US Ecology that accounted for 5.7% of the company’s outstanding stock.

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US Ecology provides a variety of environmental services, including disposal of radioactive waste, operating in two sectors – Environmental Services, and Field & Industrial Services. Since the beginning of the year, US Ecology’s stock has gained 19.65%. US Ecology has reported better-than-expected results for the first quarter, posting earnings per share of $0.32 and revenue of $113.3 million, above the estimates of $0.28 and $111.8, respectively. In addition, the company has recently completed the acquisition of Ontario, Canada-Based Environmental Services Inc.

According to our database, the number of hedge funds long US Ecology (NASDAQ:ECOL) decreased by four over the fourth quarter and eight investors reported long positions in the stock heading into 2016. Among them, Bares Capital Management held the most valuable position, followed by John Ku’s Manor Road Capital Partners with a stake worth around $33.3 million. Other money managers that were bullish on this stock included Jim Simons’s Renaissance Technologies, Joel Greenblatt’s Gotham Asset Management and Chuck Royce’s Royce & Associates.

Among the investors who dumped US Ecology (NASDAQ:ECOL), included Israel Englander’s Millennium Management, which dropped the stake worth close to $0.9 million in stock, and Matthew Tewksbury’s Stevens Capital Management, which sold off its $0.5 million stake.

You can access the original SEC filing by clicking here.

Brian Bares
Brian Bares
Bares Capital Management

Page 1 of 7 – SEC Filing


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.2)*
US Ecology, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)

 

91732J102
(CUSIP Number)

 

04/30/2016
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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