Joanne Tzu Jung Wang Sells 12,000 Shares of Karat Packaging Inc. (NASDAQ:KRT) Stock

Karat Packaging Inc. (NASDAQ:KRTGet Rating) COO Joanne Tzu Jung Wang sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $17.21, for a total value of $206,520.00. Following the transaction, the chief operating officer now directly owns 1,957 shares of the company’s stock, valued at $33,679.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Karat Packaging Stock Down 10.3 %

NASDAQ:KRT opened at $15.83 on Friday. The firm has a market capitalization of $313.91 million, a PE ratio of 14.01 and a beta of 1.51. The stock has a 50 day moving average of $18.36 and a 200-day moving average of $18.28. Karat Packaging Inc. has a 52 week low of $14.70 and a 52 week high of $25.57. The company has a current ratio of 3.59, a quick ratio of 1.30 and a debt-to-equity ratio of 0.36.

Karat Packaging (NASDAQ:KRTGet Rating) last posted its earnings results on Thursday, August 11th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.05). Karat Packaging had a net margin of 5.41% and a return on equity of 16.47%. The company had revenue of $114.88 million for the quarter, compared to the consensus estimate of $117.51 million. Analysts predict that Karat Packaging Inc. will post 1.4 EPS for the current year.

Hedge Funds Weigh In On Karat Packaging

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRT. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Karat Packaging in the 1st quarter worth approximately $2,363,000. Wasatch Advisors Inc. lifted its position in Karat Packaging by 10.0% in the fourth quarter. Wasatch Advisors Inc. now owns 400,203 shares of the company’s stock worth $8,088,000 after purchasing an additional 36,531 shares during the period. Wellington Management Group LLP lifted its position in Karat Packaging by 43.8% in the first quarter. Wellington Management Group LLP now owns 109,584 shares of the company’s stock worth $2,175,000 after purchasing an additional 33,391 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Karat Packaging in the first quarter worth approximately $334,000. Finally, Victory Capital Management Inc. lifted its position in Karat Packaging by 10.0% in the second quarter. Victory Capital Management Inc. now owns 121,029 shares of the company’s stock worth $2,065,000 after purchasing an additional 11,009 shares during the period. 21.28% of the stock is owned by institutional investors.

About Karat Packaging

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Karat Packaging Inc manufactures and distributes single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.

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