Joho Capital Llc Decreased Caesarstone Ltd (CSTE) Stake By $10.29 Million; INMARSAT PLC LONDON (IMASF) Shorts Increased By 5.87%

February 13, 2018 - By Stephen Andrade

Joho Capital Llc decreased Caesarstone Ltd (NASDAQ:CSTE) stake by 21.09% reported in 2017Q4 SEC filing. Joho Capital Llc sold 489,851 shares as Caesarstone Ltd (NASDAQ:CSTE)’s stock rose 15.69%. The Joho Capital Llc holds 1.83 million shares with $40.31 million value, down from 2.32M last quarter. Caesarstone Ltd now has $746.87M valuation. The stock increased 0.93% or $0.2 during the last trading session, reaching $21.75. About 472,027 shares traded or 50.12% up from the average. Caesarstone Ltd. (NASDAQ:CSTE) has risen 6.39% since February 14, 2017 and is uptrending. It has underperformed by 10.31% the S&P500.

INMARSAT PLC LONDON (OTCMKTS:IMASF) had an increase of 5.87% in short interest. IMASF’s SI was 767,900 shares in February as released by FINRA. Its up 5.87% from 725,300 shares previously. With 3,000 avg volume, 256 days are for INMARSAT PLC LONDON (OTCMKTS:IMASF)’s short sellers to cover IMASF’s short positions. The stock increased 0.86% or $0.05 during the last trading session, reaching $5.85. About 360 shares traded. Inmarsat Plc (OTCMKTS:IMASF) has 0.00% since February 13, 2017 and is . It has underperformed by 16.70% the S&P500.

Robert Karr has the distinction of being named one of Julian Robertson’s “Tiger Cubs”. Karr is the founder of Joho Capital. Karr served as a managing director for Tiger Management before branching out into his own hedge fund. At Tiger, he serviced a large portfolio of Asian equities that benefitted from his knowledge of the Far East. He gained this expertise while living in Tokyo, Japan. He made use of the time, honing his investing skills, and after four years with Tiger Management, Karr launched his New-York based Joho Capital in 1996. The firm also has offices in Tokyo and Taipei, Taiwan. All of Karr’s firms mirror his simple but effective investment formula that concentrates on a small niche of a top-tier company.

Caesarstone Ltd., together with its subsidiaries, makes and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. The company has market cap of $746.87 million. The Company’s engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market. It has a 29.79 P/E ratio. The companyÂ’s products are also used in other applications, such as vanity tops, wall panels, back splashes, floor tiles, stairs, and other interior surfaces that are used in various residential and non-residential applications.

Among 10 analysts covering Caesarstone Sdot-Yam (NASDAQ:CSTE), 3 have Buy rating, 3 Sell and 4 Hold. Therefore 30% are positive. Caesarstone Sdot-Yam has $67 highest and $14 lowest target. $30.50’s average target is 40.23% above currents $21.75 stock price. Caesarstone Sdot-Yam had 28 analyst reports since August 6, 2015 according to SRatingsIntel. Stifel Nicolaus downgraded Caesarstone Ltd. (NASDAQ:CSTE) on Thursday, November 3 to “Hold” rating. The stock of Caesarstone Ltd. (NASDAQ:CSTE) earned “Buy” rating by Stifel Nicolaus on Wednesday, August 2. The stock of Caesarstone Ltd. (NASDAQ:CSTE) has “Hold” rating given on Tuesday, November 7 by Chardan Capital Markets. Chardan Capital Markets maintained the stock with “Buy” rating in Monday, November 7 report. UBS downgraded Caesarstone Ltd. (NASDAQ:CSTE) rating on Monday, November 7. UBS has “Neutral” rating and $30 target. As per Monday, August 24, the company rating was upgraded by Barclays Capital. The rating was upgraded by Credit Suisse to “Hold” on Wednesday, February 7. The stock has “Neutral” rating by Bank of America on Thursday, August 6. The rating was downgraded by JP Morgan to “Neutral” on Wednesday, November 2. The firm has “Sell” rating given on Thursday, November 2 by J.P. Morgan.

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