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

Comstock Holding Companies (NASDAQ:CHCI) released its quarterly earnings results on Thursday. The construction company reported $0.84 earnings per share (EPS) for the quarter, FiscalAI reports. Comstock Holding Companies had a net margin of 25.79% and a return on equity of 27.54%. The company had revenue of $22.58 million during the quarter.

Comstock Holding Companies Trading Up 12.2%

CHCI traded up $1.81 during midday trading on Thursday, reaching $16.66. The company’s stock had a trading volume of 94,284 shares, compared to its average volume of 22,981. The firm has a market capitalization of $170.10 million, a price-to-earnings ratio of 10.04 and a beta of -0.41. Comstock Holding Companies has a 1 year low of $10.14 and a 1 year high of $19.72. The stock’s 50-day moving average is $15.38 and its 200-day moving average is $14.98.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Comstock Holding Companies in a report on Wednesday, June 24th. Wall Street Zen cut Comstock Holding Companies from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Insider Buying and Selling at Comstock Holding Companies

In other news, COO Timothy Steffan sold 13,026 shares of Comstock Holding Companies stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $14.23, for a total transaction of $185,359.98. Following the completion of the transaction, the chief operating officer directly owned 122,741 shares in the company, valued at approximately $1,746,604.43. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 35.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHCI. Truffle Hound Capital LLC boosted its holdings in Comstock Holding Companies by 33.9% in the fourth quarter. Truffle Hound Capital LLC now owns 350,000 shares of the construction company’s stock worth $4,067,000 after acquiring an additional 88,708 shares in the last quarter. Renaissance Technologies LLC increased its stake in Comstock Holding Companies by 1.8% during the 1st quarter. Renaissance Technologies LLC now owns 180,479 shares of the construction company’s stock valued at $3,418,000 after purchasing an additional 3,213 shares in the last quarter. Geode Capital Management LLC raised its holdings in Comstock Holding Companies by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 161,045 shares of the construction company’s stock worth $1,625,000 after acquiring an additional 1,952 shares during the last quarter. Saber Capital Managment LLC purchased a new stake in Comstock Holding Companies during the 4th quarter valued at $802,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Comstock Holding Companies by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 50,922 shares of the construction company’s stock worth $964,000 after purchasing an additional 3,704 shares in the last quarter. Institutional investors own 6.45% of the company’s stock.

Comstock Holding Companies Company Profile

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.