We recently published a list of 10 Stocks Insiders Are Selling In March. In this article, we are going to take a look at where Casella Waste Systems, Inc. (NASDAQ:CWST) stands against other stocks Insiders are selling in March.
Wall Street experienced a challenging week, marked by turbulence as the broader market entered a correction, declining 10.1% from its record high in February. All three major indexes dropped between 2.3% and 3.1% over the week. However, Friday brought a little more optimism among investors as all three major indexes closed a bit higher. Blue-chip stocks closed 1.65% higher, the broader market index gained 2.13% and the NASDAQ Composite closed Friday session 2.61% higher.
This week continues to keep investors on their toes as the U.S. retail sales report, scheduled for release on Monday, will provide insights into consumer spending. According to Yahoo Finance, some experts believe investors will closely examine the report for signs of an economic slowdown. Experts polled by Dow Jones expect retail sales to have increased by 0.6% last month.
Investors are also closely watching for another significant update this week: the Federal Reserve’s decision on interest rates. Since September, the Fed has cut interest rates three times and still, the broader market entered a correction.
Examining recent insider trades can offer valuable insights, as executives often have a deeper understanding of their companies. For instance, when a CEO or CFO buys company stock, it may signal strong confidence in the business’s future.
However, insider selling doesn’t necessarily reflect a lack of confidence; it could be due to personal financial needs or a desire to diversify investments. These transactions are often executed through pre-arranged plans, like 10b5-1 plans, to avoid any appearance of improper timing. While insider activity can be informative, it’s important to consider it alongside the company’s financial health, market trends, and industry developments.
Our Methodology
To identify the 10 stocks insiders are selling in March we used Insider Monkey’s insider trading stock screener and looked for stocks where at least three insiders sold shares this month. With each stock, we note the number of insiders who recently sold shares and the company’s market capitalization.
Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Aerial shot of a recycling plant and its surrounding environment, highlighting the company’s commitment to environmental sustainability.
Casella Waste Systems, Inc. (NASDAQ:CWST)
Number of Insiders Selling: 8
Market Capitalization: $6.81 billion
Next, among the stocks insiders are saying goodbye to in March, is a vertically integrated solid waste services company, Casella Waste Systems, Inc. (NASDAQ:CWST). The Rutland, Vermont-based company’s services include waste collection, recycling, disposal, and transfer operations, catering to various residential, commercial, and industrial customers. The company also markets recyclable materials such as cardboard, plastics, and metals.
Mad Money host Jim Cramer recently talked about the stock and said, “You know this one has been around forever and it just caught fire. I think it’s good but you know what? I am gonna go back to WM. I think WM is terrific and it just had a dip and it’s a little bit cheaper.”
In March, eight insiders, including the company’s CEO, sold a total of approximately $4.37 million worth of Casella shares at an average price of $107.60 per share. The stock rose 1.60% year-to-date, and is now trading at $107.50. Over the past 12 months, Casella (NASDAQ:CWST) returned 11.45% to its investors.
Based on five analysts’ estimates, Casella (NASDAQ:CWST) stock is a “Moderate Buy” with a price target of $117.75, according to MarketBeat.
Overall, CWST ranks 9th on our list of stocks Insiders are selling in March. While we acknowledge the potential of CWST, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CWST but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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