Comstock Holding Companies, Inc. (NASDAQ:CHCI) Short Interest Up 53.8% in September

Key Points

• Short Interest Surge: Comstock Holding Companies saw a significant increase in short interest, rising by 53.8% in September, bringing the total to 38,600 shares as of September 30th.
• Stock Performance: The company's stock price increased by 1.5%, trading at $14.59, with a market capitalization of $146.92 million and a PE ratio of 9.66.
• Insider Selling: Recent insider transactions included COO Timothy Steffan and CFO Christopher Michael Guthrie selling shares, decreasing their ownership by approximately 3.57% and 3.52%, respectively.

Comstock Holding Companies, Inc. (NASDAQ:CHCI - Get Free Report) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 38,600 shares, a growth of 53.8% from the September 15th total of 25,100 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 27,100 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily trading volume, of 27,100 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.2% of the shares of the stock are sold short.

Comstock Holding Companies Trading Up 1.5%

CHCI traded up $0.22 during trading on Wednesday, reaching $14.59. 7,513 shares of the company's stock were exchanged, compared to its average volume of 31,864. Comstock Holding Companies has a one year low of $6.31 and a one year high of $18.99. The stock has a market capitalization of $146.92 million, a PE ratio of 9.66 and a beta of 0.13. The firm has a fifty day moving average price of $15.53 and a two-hundred day moving average price of $12.39.

Comstock Holding Companies (NASDAQ:CHCI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $0.14 earnings per share for the quarter. The company had revenue of $12.97 million during the quarter. Comstock Holding Companies had a net margin of 28.35% and a return on equity of 30.98%.

Insider Activity at Comstock Holding Companies

In other Comstock Holding Companies news, COO Timothy Steffan sold 3,430 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $15.66, for a total value of $53,713.80. Following the transaction, the chief operating officer directly owned 92,564 shares of the company's stock, valued at approximately $1,449,552.24. This trade represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher Michael Guthrie sold 4,367 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $14.82, for a total value of $64,718.94. Following the completion of the sale, the chief financial officer directly owned 119,545 shares of the company's stock, valued at approximately $1,771,656.90. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,947 shares of company stock valued at $345,893 in the last three months. Corporate insiders own 36.18% of the company's stock.

Institutional Trading of Comstock Holding Companies

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Comstock Holding Companies by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 161,045 shares of the construction company's stock valued at $1,625,000 after buying an additional 1,952 shares in the last quarter. Truffle Hound Capital LLC bought a new stake in shares of Comstock Holding Companies in the 2nd quarter worth approximately $1,146,000. Finally, Corsair Capital Management L.P. boosted its holdings in Comstock Holding Companies by 6.4% in the second quarter. Corsair Capital Management L.P. now owns 51,131 shares of the construction company's stock valued at $516,000 after acquiring an additional 3,085 shares in the last quarter. 6.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CHCI. Wall Street Zen raised Comstock Holding Companies from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Weiss Ratings restated a "buy (b-)" rating on shares of Comstock Holding Companies in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Comstock Holding Companies currently has a consensus rating of "Buy".

Comstock Holding Companies Company Profile

Comstock Holding Companies, Inc operates as a real estate asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, DC region. The company acquires, develops, operates, and sells residential, commercial, and mixed-use properties. It also provides various asset and property management, development and construction management, and other real estate services to its asset-owning clients, which include primarily of institutional real estate investors, high net worth family offices, and governmental bodies.

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