Renaissance Technologies LLC Trims Holdings in Quest Resource Holding Co. (NASDAQ:QRHC)

Renaissance Technologies LLC reduced its stake in Quest Resource Holding Co. (NASDAQ:QRHC) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 267,392 shares of the business services provider’s stock after selling 7,400 shares during the quarter. Renaissance Technologies LLC owned approximately 1.32% of Quest Resource worth $2,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of QRHC. Dimensional Fund Advisors LP grew its holdings in shares of Quest Resource by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 168,717 shares of the business services provider’s stock valued at $1,484,000 after purchasing an additional 7,945 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Quest Resource during the 2nd quarter worth approximately $34,000. Rhumbline Advisers purchased a new stake in shares of Quest Resource during the 2nd quarter valued at approximately $145,000. Privium Fund Management B.V. lifted its holdings in Quest Resource by 72.6% in the second quarter. Privium Fund Management B.V. now owns 18,900 shares of the business services provider’s stock valued at $168,000 after acquiring an additional 7,950 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Quest Resource in the second quarter worth approximately $406,000. 48.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on QRHC shares. Northland Securities started coverage on Quest Resource in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $12.50 target price on the stock. Craig Hallum reduced their price objective on shares of Quest Resource from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Northland Capmk raised shares of Quest Resource to a “strong-buy” rating in a research note on Tuesday, September 17th. Finally, StockNews.com raised shares of Quest Resource from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

Insider Buying and Selling at Quest Resource

In other news, COO David P. Sweitzer sold 22,593 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $8.00, for a total transaction of $180,744.00. Following the completion of the transaction, the chief operating officer now directly owns 8,511 shares of the company’s stock, valued at $68,088. The sale was disclosed in a filing with the SEC, which is accessible through this link. 22.84% of the stock is owned by corporate insiders.

Quest Resource Price Performance

Shares of QRHC opened at $7.99 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 1.08. Quest Resource Holding Co. has a fifty-two week low of $6.01 and a fifty-two week high of $10.85. The company has a market cap of $161.84 million, a P/E ratio of -28.54, a PEG ratio of 2.17 and a beta of 0.65. The firm’s 50 day moving average price is $8.46 and its 200 day moving average price is $8.80.

Quest Resource (NASDAQ:QRHC) last posted its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The company had revenue of $73.15 million for the quarter, compared to analysts’ expectations of $76.50 million. Quest Resource had a positive return on equity of 5.61% and a negative net margin of 2.29%. On average, research analysts forecast that Quest Resource Holding Co. will post 0.28 earnings per share for the current fiscal year.

About Quest Resource

Quest Resource Holding Corporation, together with its subsidiaries, provides solutions for the reuse, recycling, and disposal of various waste streams and recyclables in the United States. The company provides disposal and recycling services for motor oil and automotive lubricants, oil filters, scrap tires, oily water, goods destruction, food waste, meat renderings, cooking oil and grease trap waste, plastics, cardboard, metal, glass, mixed paper, construction debris, as well as a large variety of regulated and non-regulated solid, liquid, and gas wastes.