Bayesian Capital Management LP Invests $270,000 in Cactus, Inc. (NYSE:WHD)

Bayesian Capital Management LP bought a new position in shares of Cactus, Inc. (NYSE:WHD) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,394 shares of the company’s stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Trust Walden Corp increased its position in Cactus by 1.4% in the 4th quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock valued at $88,127,000 after acquiring an additional 26,185 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Cactus by 2.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,101 shares of the company’s stock valued at $1,321,000 after acquiring an additional 575 shares during the period. Cerity Partners LLC increased its position in Cactus by 17.5% in the 4th quarter. Cerity Partners LLC now owns 11,142 shares of the company’s stock valued at $506,000 after acquiring an additional 1,660 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cactus by 26.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,422 shares of the company’s stock valued at $746,000 after acquiring an additional 3,405 shares during the period. Finally, GAMMA Investing LLC acquired a new position in Cactus in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

Analyst Upgrades and Downgrades

WHD has been the topic of several recent research reports. Barclays boosted their price target on Cactus from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Benchmark reiterated a “hold” rating on shares of Cactus in a research report on Monday, May 6th. Bank of America boosted their target price on Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. Piper Sandler dropped their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, Johnson Rice cut Cactus from a “buy” rating to an “accumulate” rating in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Insider Activity

In other news, EVP William D. Marsh sold 2,059 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $51.03, for a total transaction of $105,070.77. Following the completion of the sale, the executive vice president now directly owns 1,852 shares in the company, valued at $94,507.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP William D. Marsh sold 2,059 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $51.03, for a total transaction of $105,070.77. Following the completion of the sale, the executive vice president now directly owns 1,852 shares in the company, valued at $94,507.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Bender sold 39,957 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $51.01, for a total value of $2,038,206.57. Following the sale, the chief executive officer now owns 400,234 shares of the company’s stock, valued at $20,415,936.34. The disclosure for this sale can be found here. Insiders sold 602,059 shares of company stock worth $30,948,949 over the last ninety days. Corporate insiders own 17.72% of the company’s stock.

Cactus Trading Up 1.3 %

NYSE:WHD opened at $63.12 on Thursday. The business’s 50-day moving average is $53.13 and its two-hundred day moving average is $49.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.24 and a quick ratio of 2.17. Cactus, Inc. has a 12 month low of $37.58 and a 12 month high of $64.21. The firm has a market capitalization of $5.02 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 2.40 and a beta of 1.98.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Cactus had a return on equity of 22.46% and a net margin of 14.46%. The company had revenue of $274.12 million for the quarter, compared to analyst estimates of $270.70 million. During the same period last year, the company posted $0.64 earnings per share. The firm’s revenue was up 20.0% compared to the same quarter last year. Research analysts predict that Cactus, Inc. will post 2.89 earnings per share for the current fiscal year.

Cactus Company Profile

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.