Comstock Holding Companies (NASDAQ:CHCI) COO Timothy Steffan Sells 9,740 Shares

Key Points

• COO Timothy Steffan sold 9,740 shares on March 23 at an average price of $15.61 for proceeds of $152,041.40, trimming his stake by 7.76% to 115,767 shares valued at about $1.81M.
• Comstock reported $1.28 EPS for the quarter with a 27.12% net margin and 28.97% return on equity on $23.93M in revenue, signaling strong profitability for the period.
• Shares traded up 1.5% to $16.48 (market cap $166.28M, P/E 10.02); analyst coverage is limited and the stock carries an average rating of Hold after a recent downgrade by Weiss Ratings.

Comstock Holding Companies, Inc. (NASDAQ:CHCI - Get Free Report) COO Timothy Steffan sold 9,740 shares of the company's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $15.61, for a total transaction of $152,041.40. Following the completion of the sale, the chief operating officer directly 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 filing with the Securities & Exchange Commission, which can be accessed through this link.

Comstock Holding Companies Trading Up 1.5%

NASDAQ CHCI traded up $0.25 during trading hours on Wednesday, reaching $16.48. 9,969 shares of the company traded hands, compared to its average volume of 29,354. The stock has a market capitalization of $166.28 million, a PE ratio of 10.02 and a beta of -0.09. Comstock Holding Companies, Inc. has a 12 month low of $8.13 and a 12 month high of $18.99. The company has a 50 day moving average of $12.03 and a two-hundred day moving average of $13.25.

Comstock Holding Companies (NASDAQ:CHCI - Get Free Report) last released its earnings results on Tuesday, March 17th. The construction company reported $1.28 earnings per share for the quarter. Comstock Holding Companies had a net margin of 27.12% and a return on equity of 28.97%. The company had revenue of $23.93 million during the quarter.

Institutional Trading of Comstock Holding Companies

Large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its stake 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 acquiring an additional 2,882 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Comstock Holding Companies in the fourth quarter worth $144,000. 683 Capital Management LLC acquired a new position in shares of Comstock Holding Companies during the fourth quarter valued at $397,000. Saber Capital Managment LLC acquired a new position in shares of Comstock Holding Companies during the fourth quarter valued at $802,000. Finally, Barclays PLC raised its stake in shares of Comstock Holding Companies by 437.7% during the fourth quarter. Barclays PLC now owns 3,839 shares of the construction company's stock valued at $45,000 after purchasing an additional 3,125 shares in the last quarter. 6.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Comstock Holding Companies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.