Comstock Holding Companies (NASDAQ:CHCI) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Comstock Holding Companies, Inc. (NASDAQ:CHCI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.01 and traded as high as $18.42. Comstock Holding Companies shares last traded at $16.88, with a volume of 103,479 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen upgraded Comstock Holding Companies from a “hold” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Comstock Holding Companies in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Comstock Holding Companies currently has an average rating of “Hold”.

Comstock Holding Companies Price Performance

The stock’s 50 day simple moving average is $15.41 and its two-hundred day simple moving average is $15.03. The stock has a market cap of $173.88 million, a P/E ratio of 7.22 and a beta of -0.41.

Comstock Holding Companies (NASDAQ:CHCI) last released its quarterly earnings results on Thursday, August 13th. The construction company reported $0.84 earnings per share for the quarter. Comstock Holding Companies had a net margin of 32.16% and a return on equity of 37.64%. The company had revenue of $22.58 million during the quarter.

Insiders Place Their Bets

In related news, COO Timothy Steffan sold 13,026 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $14.23, for a total value of $185,359.98. Following the completion of the transaction, the chief operating officer directly owned 122,741 shares of the company’s stock, valued at approximately $1,746,604.43. This represents a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 35.03% of the company’s stock.

Institutional Trading of Comstock Holding Companies

A number of institutional investors have recently modified their holdings of the company. Saber Capital Managment LLC acquired a new position in shares of Comstock Holding Companies during the fourth quarter worth about $802,000. Truffle Hound Capital LLC raised its position in Comstock Holding Companies by 33.9% in the 4th quarter. Truffle Hound Capital LLC now owns 350,000 shares of the construction company’s stock valued at $4,067,000 after buying an additional 88,708 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Comstock Holding Companies by 3.9% in the 4th quarter. Renaissance Technologies LLC now owns 177,266 shares of the construction company’s stock valued at $2,060,000 after acquiring an additional 6,587 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $1,625,000 after acquiring an additional 1,952 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Comstock Holding Companies by 21.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 47,218 shares of the construction company’s stock worth $549,000 after acquiring an additional 8,443 shares during the last quarter. 6.45% of the stock is currently owned by institutional investors.

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.