Bayesian Capital Management LP Buys New Stake in Cactus, Inc. (NYSE:WHD)

Bayesian Capital Management LP bought a new stake in Cactus, Inc. (NYSE:WHD) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,394 shares of the company’s stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WHD. Principal Securities Inc. bought a new stake in Cactus in the fourth quarter valued at about $30,000. GAMMA Investing LLC bought a new stake in Cactus during the fourth quarter worth about $33,000. TFO Wealth Partners LLC grew its stake in Cactus by 221,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock worth $101,000 after buying an additional 2,213 shares during the last quarter. SG Americas Securities LLC bought a new stake in Cactus during the first quarter worth about $115,000. Finally, Covestor Ltd grew its stake in Cactus by 251.8% during the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock worth $126,000 after buying an additional 1,795 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

Cactus Trading Up 1.3 %

Shares of NYSE WHD opened at $63.12 on Thursday. The company’s 50 day simple moving average is $53.13 and its 200 day simple moving average is $49.33. Cactus, Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $64.21. The firm has a market capitalization of $5.02 billion, a P/E ratio of 25.15, a P/E/G ratio of 2.40 and a beta of 1.98. 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 (NYSE:WHD) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Cactus had a net margin of 14.46% and a return on equity of 22.46%. The business had revenue of $274.12 million for the quarter, compared to analyst estimates of $270.70 million. During the same period in the prior year, the business posted $0.64 earnings per share. Cactus’s revenue was up 20.0% compared to the same quarter last year. On average, analysts predict that Cactus, Inc. will post 2.89 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on WHD shares. Bank of America upped their price objective on shares of Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Barclays upped their price objective on shares of Cactus from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Benchmark reissued a “hold” rating on shares of Cactus in a research note on Monday, May 6th. Piper Sandler decreased their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Finally, Citigroup increased their price target on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Cactus has an average rating of “Hold” and a consensus price target of $55.00.

Insider Activity at Cactus

In related news, CEO Scott Bender sold 39,957 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 400,234 shares in the company, valued at $20,415,936.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cactus news, CEO Scott Bender sold 39,957 shares of the stock in a transaction on 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 directly owns 400,234 shares in the company, valued at $20,415,936.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William D. Marsh sold 2,059 shares of the stock in a transaction on 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 owns 1,852 shares in the company, valued at $94,507.56. The disclosure for this sale can be found here. Insiders have sold 602,059 shares of company stock worth $30,948,949 over the last ninety days. Company insiders own 17.72% of the company’s stock.

About Cactus

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.