Comstock Holding Companies (NASDAQ:CHCI) Issues Earnings Results

Key Points

• Comstock Holding Companies reported earnings of $0.14 per share for the quarter, along with revenue of $12.97 million.
• The company's stock saw a 4.5% increase following the earnings results, closing at $13.69.
• Insider activity was notable, with COO Timothy Steffan and Director David M. Guernsey both selling shares, resulting in a decrease in their ownership stakes.

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

Comstock Holding Companies Trading Down 1.0%

CHCI stock traded down $0.15 during mid-day trading on Thursday, reaching $14.95. The company's stock had a trading volume of 17,625 shares, compared to its average volume of 18,362. The company has a market cap of $150.25 million, a price-to-earnings ratio of 9.90 and a beta of 0.07. The business's 50 day moving average price is $11.62 and its 200 day moving average price is $9.81. Comstock Holding Companies has a 12 month low of $6.31 and a 12 month high of $15.25.

Insiders Place Their Bets

In other Comstock Holding Companies news, Director David M. Guernsey sold 3,340 shares of Comstock Holding Companies stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $10.00, for a total value of $33,400.00. Following the completion of the sale, the director directly owned 46,527 shares in the company, valued at approximately $465,270. The trade was a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher Michael Guthrie sold 4,367 shares of Comstock Holding Companies stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 owned 119,545 shares of the company's stock, valued at approximately $1,771,656.90. The trade was a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,266 shares of company stock valued at $427,783. Company insiders own 36.18% of the company's stock.

Institutional Investors Weigh In On Comstock Holding Companies

A hedge fund recently raised its stake in Comstock Holding Companies stock. Geode Capital Management LLC raised its position in Comstock Holding Companies, Inc. (NASDAQ:CHCI - Free Report) by 1.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 161,045 shares of the construction company's stock after acquiring an additional 1,952 shares during the period. Geode Capital Management LLC owned approximately 1.60% of Comstock Holding Companies worth $1,625,000 as of its most recent filing with the SEC. 6.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Comstock Holding Companies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th.

About Comstock Holding Companies

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.