Ashton Thomas Private Wealth LLC Acquires Shares of 3,894 Quest Resource Holding Co. (NASDAQ:QRHC)

Ashton Thomas Private Wealth LLC acquired a new stake in Quest Resource Holding Co. (NASDAQ:QRHC) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,894 shares of the business services provider’s stock, valued at approximately $34,000.

A number of other large investors also recently modified their holdings of the company. Rhumbline Advisers purchased a new stake in shares of Quest Resource in the 2nd quarter valued at approximately $145,000. Privium Fund Management B.V. increased its position in shares of Quest Resource by 72.6% in the 2nd quarter. Privium Fund Management B.V. now owns 18,900 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 7,950 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Quest Resource in the 2nd quarter valued at approximately $406,000. First Eagle Investment Management LLC increased its position in shares of Quest Resource by 2.7% in the 1st quarter. First Eagle Investment Management LLC now owns 356,398 shares of the business services provider’s stock valued at $3,058,000 after purchasing an additional 9,490 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Quest Resource by 453.5% in the 1st quarter. Russell Investments Group Ltd. now owns 18,448 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 15,115 shares during the last quarter. 48.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on QRHC. Craig Hallum dropped their target price on shares of Quest Resource from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. StockNews.com raised shares of Quest Resource from a “sell” rating to a “hold” rating in a research report on Friday, September 6th.

Quest Resource Stock Down 1.8 %

Shares of NASDAQ:QRHC opened at $8.68 on Tuesday. The stock has a market cap of $176.90 million, a P/E ratio of -31.00, a P/E/G ratio of 2.05 and a beta of 0.65. The firm has a fifty day moving average price of $8.48 and a 200 day moving average price of $8.67. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.49 and a quick ratio of 1.49. Quest Resource Holding Co. has a 1-year low of $6.01 and a 1-year high of $10.85.

Quest Resource (NASDAQ:QRHC) last released its earnings results on Thursday, August 8th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). Quest Resource had a positive return on equity of 5.61% and a negative net margin of 2.29%. The firm had revenue of $73.15 million during the quarter, compared to analyst estimates of $76.50 million. Sell-side analysts predict that Quest Resource Holding Co. will post 0.28 EPS for the current year.

Insider Activity at Quest Resource

In related news, COO David P. Sweitzer sold 16,047 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $8.52, for a total value of $136,720.44. Following the completion of the sale, the chief operating officer now owns 8,511 shares in the company, valued at $72,513.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quest Resource news, COO David P. Sweitzer sold 16,047 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $8.52, for a total transaction of $136,720.44. Following the completion of the transaction, the chief operating officer now directly owns 8,511 shares in the company, valued at approximately $72,513.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David P. Sweitzer sold 19,841 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $8.40, for a total transaction of $166,664.40. Following the transaction, the chief operating officer now owns 8,511 shares of the company’s stock, valued at $71,492.40. The disclosure for this sale can be found here. Insiders sold 58,481 shares of company stock worth $484,129 over the last 90 days. Company insiders own 22.84% of the company’s stock.

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.