Comstock Holding Companies, Inc. (NASDAQ:CHCI) Short Interest Update

Key Points

• Short interest in Comstock Holding Companies jumped sharply in June, rising 348.5% to 108,493 shares from 24,189 shares two weeks earlier. That leaves about 1.6% of the float sold short, with a short-interest ratio of 1.6 days.
• Analyst sentiment remains cautious, with Wall Street Zen downgrading the stock from buy to hold and Weiss Ratings reaffirming a hold rating. MarketBeat shows an overall average rating of “Hold.”
• The stock traded lower and has mixed operating/investor activity, closing at $15.50 amid recent insider selling by COO Timothy Steffan and continued institutional buying by several hedge funds. The company most recently reported quarterly EPS of $0.19 on revenue of $17.45 million.

Comstock Holding Companies, Inc. (NASDAQ:CHCI - Get Free Report) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 108,493 shares, an increase of 348.5% from the June 15th total of 24,189 shares. Based on an average trading volume of 65,774 shares, the short-interest ratio is currently 1.6 days. Currently, 1.6% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages have commented on CHCI. Wall Street Zen cut shares of Comstock Holding Companies from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Comstock Holding Companies in a research note on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Comstock Holding Companies presently has an average rating of "Hold".

Comstock Holding Companies Price Performance

CHCI traded down $0.22 during mid-day trading on Friday, hitting $15.50. The stock had a trading volume of 40,761 shares, compared to its average volume of 42,247. The stock's fifty day simple moving average is $15.81 and its 200-day simple moving average is $14.35. The firm has a market capitalization of $158.25 million, a price-to-earnings ratio of 9.34 and a beta of -0.43. Comstock Holding Companies has a 1-year low of $10.14 and a 1-year high of $19.72.

Comstock Holding Companies (NASDAQ:CHCI - Get Free Report) last posted its earnings results on Thursday, May 14th. The construction company reported $0.19 earnings per share for the quarter. Comstock Holding Companies had a return on equity of 27.54% and a net margin of 25.79%.The firm had revenue of $17.45 million for the quarter.

Insider Activity

In other news, COO Timothy Steffan sold 13,026 shares of the company's 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 transaction, the chief operating officer directly owned 122,741 shares in the company, valued at approximately $1,746,604.43. This represents a 9.59% decrease in their ownership of the stock. 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 Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Truffle Hound Capital LLC grew its stake 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 valued at $4,067,000 after purchasing an additional 88,708 shares in the last quarter. Renaissance Technologies LLC raised its stake 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 in the last quarter. Geode Capital Management LLC raised 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 worth $1,625,000 after purchasing an additional 1,952 shares in the last quarter. Saber Capital Managment LLC acquired a new stake in shares of Comstock Holding Companies in the 4th quarter valued at approximately $802,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Comstock Holding Companies by 7.8% in the first quarter. Dimensional Fund Advisors LP now owns 50,922 shares of the construction company's stock valued at $964,000 after buying an additional 3,704 shares in 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.

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