Perritt Capital Management Inc Reduces Holdings in Quest Resource Holding Co. (NASDAQ:QRHC)

Perritt Capital Management Inc lessened its position in Quest Resource Holding Co. (NASDAQ:QRHC) by 4.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 129,614 shares of the business services provider’s stock after selling 6,686 shares during the period. Quest Resource comprises about 0.6% of Perritt Capital Management Inc’s holdings, making the stock its 27th biggest position. Perritt Capital Management Inc’s holdings in Quest Resource were worth $1,141,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Quest Resource during the second quarter worth about $34,000. Rhumbline Advisers bought a new stake in shares of Quest Resource in the 2nd quarter worth about $145,000. Russell Investments Group Ltd. increased its holdings 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 acquiring an additional 15,115 shares during the last quarter. Privium Fund Management B.V. raised its stake in Quest Resource by 72.6% during the second quarter. Privium Fund Management B.V. now owns 18,900 shares of the business services provider’s stock worth $168,000 after acquiring an additional 7,950 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Quest Resource in the 2nd quarter worth approximately $406,000. 48.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Quest Resource

In other Quest Resource news, COO David P. Sweitzer sold 16,047 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $8.52, for a total value of $136,720.44. Following the transaction, the chief operating officer now owns 8,511 shares in the company, valued at $72,513.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quest Resource news, COO David P. Sweitzer sold 22,593 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $8.00, for a total transaction of $180,744.00. Following the transaction, the chief operating officer now owns 8,511 shares in the company, valued at $68,088. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO David P. Sweitzer sold 16,047 shares of Quest Resource stock in a transaction on Friday, June 21st. The stock was 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 owns 8,511 shares in the company, valued at approximately $72,513.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,481 shares of company stock worth $484,129. 22.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on QRHC. Craig Hallum cut their price objective 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 upgraded Quest Resource from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

Quest Resource Trading Up 0.7 %

NASDAQ:QRHC opened at $8.35 on Thursday. Quest Resource Holding Co. has a 1-year low of $6.01 and a 1-year high of $10.85. The stock has a fifty day simple moving average of $8.47 and a 200 day simple moving average of $8.62. The firm has a market capitalization of $170.17 million, a price-to-earnings ratio of -29.82, a price-to-earnings-growth ratio of 2.02 and a beta of 0.65. 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 (NASDAQ:QRHC) last issued 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 business had revenue of $73.15 million during the quarter, compared to analyst estimates of $76.50 million. Sell-side analysts forecast that Quest Resource Holding Co. will post 0.28 earnings per share for the current 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.