Polar Asset Management Partners Inc. Has $1.69 Million Stake in Celestica, Inc. $CLS

Polar Asset Management Partners Inc. trimmed its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 31.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,854 shares of the technology company’s stock after selling 3,146 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Celestica were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake in Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the period. First Horizon Corp acquired a new stake in shares of Celestica during the 3rd quarter valued at $31,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Celestica during the 2nd quarter valued at $40,000. Avion Wealth purchased a new position in shares of Celestica during the 3rd quarter valued at $40,000. Finally, Fifth Third Bancorp increased its stake in shares of Celestica by 48.7% in the third quarter. Fifth Third Bancorp now owns 171 shares of the technology company’s stock worth $42,000 after acquiring an additional 56 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Price Performance

NYSE CLS opened at $284.44 on Friday. Celestica, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The stock’s 50-day moving average is $290.94 and its two-hundred day moving average is $288.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88. The firm has a market cap of $32.72 billion, a P/E ratio of 39.62 and a beta of 1.88.

Insider Transactions at Celestica

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CLS shares. TD Cowen reiterated a “hold” rating on shares of Celestica in a report on Friday, January 30th. Barclays upped their target price on Celestica from $359.00 to $391.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. BMO Capital Markets reiterated an “outperform” rating on shares of Celestica in a report on Monday, January 26th. TD Securities boosted their price target on Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $400.00 price objective on shares of Celestica in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $354.24.

Celestica Company 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.