Comstock Holding Companies (NASDAQ:CHCI) Releases Quarterly Earnings Results

Comstock Holding Companies (NASDAQ:CHCI) issued its earnings results on Thursday. The construction company reported $0.19 earnings per share (EPS) for the quarter, FiscalAI reports. Comstock Holding Companies had a net margin of 27.12% and a return on equity of 28.97%. The business had revenue of $17.45 million for the quarter.

Comstock Holding Companies Stock Performance

Shares of Comstock Holding Companies stock traded down $0.27 during trading hours on Friday, reaching $17.17. The company’s stock had a trading volume of 1,546 shares, compared to its average volume of 18,388. Comstock Holding Companies has a one year low of $9.00 and a one year high of $19.72. The company’s 50 day simple moving average is $16.41 and its 200 day simple moving average is $13.88. The stock has a market cap of $175.25 million, a P/E ratio of 10.60 and a beta of -0.43.

Insider Buying and Selling at Comstock Holding Companies

In related news, COO Timothy Steffan sold 9,740 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $15.61, for a total transaction of $152,041.40. Following the sale, the chief operating officer owned 115,767 shares in the company, valued at $1,807,122.87. This represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 36.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comstock Holding Companies

Several institutional investors have recently made changes to their positions in CHCI. Renaissance Technologies LLC raised its position in shares of Comstock Holding Companies by 1.8% during the 1st quarter. Renaissance Technologies LLC now owns 180,479 shares of the construction company’s stock worth $3,418,000 after purchasing an additional 3,213 shares during the period. Dimensional Fund Advisors LP boosted its position in Comstock Holding Companies by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 50,922 shares of the construction company’s stock valued at $964,000 after purchasing an additional 3,704 shares during the period. NewEdge Advisors LLC boosted its position in Comstock Holding Companies by 23.5% during the 4th quarter. NewEdge Advisors LLC now owns 15,155 shares of the construction company’s stock valued at $176,000 after purchasing an additional 2,882 shares during the period. Quadrature Capital Ltd bought a new position in Comstock Holding Companies during the 4th quarter worth $144,000. Finally, 683 Capital Management LLC acquired a new stake in Comstock Holding Companies in the fourth quarter worth $397,000. 6.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Comstock Holding Companies in a research note on Friday, March 27th. Wall Street Zen upgraded Comstock Holding Companies to a “buy” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About Comstock Holding Companies

Comstock Holding Companies, Inc (NASDAQ: CHCI) is a diversified holding company that, through its primary operating subsidiary, focuses on the design, construction and operation of fiber optic network systems in the United States. The company delivers high-capacity connectivity solutions to broadband service providers, including dark fiber leasing, wavelength services, transport and last-mile connectivity. By partnering with carriers, cable operators and municipal entities, Comstock leverages its network infrastructure to support residential, commercial and institutional customers requiring scalable, reliable bandwidth.

Following the divestiture of its homebuilding division in 2013, Comstock has concentrated its capital and resources on expanding its fiber network footprint into select regional markets.