Bank of New York Mellon Corp Raises Stock Holdings in Quest Resource Holding Co. (NASDAQ:QRHC)

Bank of New York Mellon Corp raised its position in shares of Quest Resource Holding Co. (NASDAQ:QRHC) by 24.0% during the 4th quarter, Holdings Channel reports. The firm owned 42,872 shares of the business services provider’s stock after buying an additional 8,300 shares during the quarter. Bank of New York Mellon Corp’s holdings in Quest Resource were worth $279,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in shares of Quest Resource during the third quarter worth $116,000. Geode Capital Management LLC grew its position in Quest Resource by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 352,670 shares of the business services provider’s stock worth $2,815,000 after purchasing an additional 3,731 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Quest Resource by 193.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,693 shares of the business services provider’s stock valued at $189,000 after buying an additional 15,628 shares during the last quarter. Barclays PLC boosted its stake in shares of Quest Resource by 44.9% in the third quarter. Barclays PLC now owns 26,463 shares of the business services provider’s stock worth $211,000 after buying an additional 8,203 shares during the last quarter. Finally, Truist Financial Corp purchased a new stake in shares of Quest Resource in the fourth quarter worth about $1,605,000. Hedge funds and other institutional investors own 48.16% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on QRHC. StockNews.com cut Quest Resource from a “hold” rating to a “sell” rating in a research report on Thursday, March 13th. Northland Securities set a $6.50 target price on shares of Quest Resource in a report on Thursday, March 13th.

Insider Buying and Selling

In other news, CEO Perry W. Moss acquired 16,338 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average cost of $3.01 per share, for a total transaction of $49,177.38. Following the acquisition, the chief executive officer now owns 257,933 shares in the company, valued at approximately $776,378.33. This represents a 6.76 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders purchased 23,912 shares of company stock valued at $71,046. 22.84% of the stock is owned by corporate insiders.

Quest Resource Price Performance

NASDAQ:QRHC opened at $2.69 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.15. Quest Resource Holding Co. has a 52 week low of $2.61 and a 52 week high of $10.85. The stock’s 50-day moving average price is $4.50 and its 200-day moving average price is $6.36. The stock has a market capitalization of $55.43 million, a PE ratio of -7.27, a price-to-earnings-growth ratio of 0.76 and a beta of 0.66.

Quest Resource (NASDAQ:QRHC) last issued its quarterly earnings data on Wednesday, March 12th. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $69.97 million during the quarter, compared to analyst estimates of $73.63 million. Quest Resource had a negative net margin of 2.74% and a positive return on equity of 3.11%. As a group, equities analysts expect that Quest Resource Holding Co. will post 0.09 EPS for the current fiscal year.

Quest Resource Company Profile

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.