Letko, Brosseau Cuts Celestica Stake to 9.0% as of Dec 31, 2023
Ticker: CLS · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 1030894
| Field | Detail |
|---|---|
| Company | Celestica Inc (CLS) |
| Form Type | SC 13G/A |
| Filed Date | Feb 12, 2024 |
| Risk Level | medium |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: institutional-ownership, ownership-change, amendment, investor-sentiment
TL;DR
**Letko, Brosseau trimmed its Celestica stake to 9.0%, signaling a potential shift in sentiment.**
AI Summary
Letko, Brosseau & Associates Inc., a Canadian investment firm, filed an amendment (SC 13G/A) on February 12, 2024, updating its beneficial ownership in Celestica Inc. As of December 31, 2023, the firm reported owning 10,774,000 Subordinate Voting Shares, representing 9.0% of the company's outstanding shares. This is a decrease from their previous filing, indicating they have reduced their stake in Celestica. This matters to investors because a significant institutional investor reducing its position could signal a change in their outlook on the company's future performance or valuation.
Why It Matters
A major institutional investor reducing its holdings can be interpreted as a lack of conviction or a bearish signal, potentially influencing other investors' decisions and the stock price.
Risk Assessment
Risk Level: medium — The reduction in ownership by a large institutional investor could indicate a perceived increase in risk or a less favorable outlook for Celestica Inc.
Analyst Insight
Investors should investigate the reasons behind Letko, Brosseau's reduced stake in Celestica Inc. and consider if their own investment thesis aligns with this institutional move, especially if they are considering buying or holding the stock.
Key Numbers
- 10,774,000 — Subordinate Voting Shares (Number of shares Letko, Brosseau & Associates Inc. beneficially owned in Celestica Inc. as of December 31, 2023.)
- 9.0% — Percentage of Class (The percentage of Celestica Inc.'s Subordinate Voting Shares beneficially owned by Letko, Brosseau & Associates Inc. as of December 31, 2023.)
Key Players & Entities
- Letko, Brosseau & Associates Inc. (company) — the reporting person, an investment firm
- Celestica Inc. (company) — the issuer of the securities
- 10,774,000 (dollar_amount) — number of Subordinate Voting Shares beneficially owned
- 9.0% (dollar_amount) — percentage of class beneficially owned
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- Other institutional investors may re-evaluate their positions in Celestica Inc. following Letko, Brosseau's reduction. (Celestica Inc.) — medium confidence, target: Q1 2024
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person is LETKO, BROSSEAU & ASSOCIATES INC., as stated in item (1) of the cover page and the 'FILED BY' section.
What is the name of the issuer whose securities are being reported?
The issuer is CELESTICA INC., as identified in the 'SUBJECT COMPANY' section and the 'Name of Issuer' field on the Schedule 13G/A.
What type of securities are covered by this filing?
The securities covered are SUBORDINATE VOTING SHARES of Celestica Inc., as specified under 'Title of Class of Securities' on the Schedule 13G/A.
As of what date did the event requiring this filing occur?
The date of the event which requires filing of this statement was December 31, 2023, as indicated on the Schedule 13G/A.
What percentage of Celestica Inc.'s Subordinate Voting Shares does Letko, Brosseau & Associates Inc. beneficially own according to this filing?
Letko, Brosseau & Associates Inc. beneficially owns 9.0% of Celestica Inc.'s Subordinate Voting Shares, as stated in the AI Summary and derived from the filing's data.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 12, 2024 regarding CELESTICA INC (CLS).