Comstock Holding Companies (NASDAQ:CHCI) Issues Quarterly 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 earnings results on Thursday. The construction company reported $0.14 earnings per share for the quarter, Zacks reports. The firm had revenue of $12.97 million for the quarter. Comstock Holding Companies had a return on equity of 31.95% and a net margin of 28.35%.

Comstock Holding Companies Trading Up 4.5%

CHCI stock traded up $0.59 during trading hours on Friday, hitting $13.69. 17,360 shares of the stock traded hands, compared to its average volume of 17,549. The stock has a 50-day simple moving average of $11.21 and a 200 day simple moving average of $9.63. Comstock Holding Companies has a one year low of $6.31 and a one year high of $14.48. The company has a market cap of $137.58 million, a P/E ratio of 9.07 and a beta of 0.07.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, COO Timothy Steffan sold 4,425 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $10.00, for a total value of $44,250.00. Following the completion of the transaction, the chief operating officer owned 105,540 shares in the company, valued at $1,055,400. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David M. Guernsey sold 6,660 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $10.01, for a total value of $66,666.60. Following the completion of the sale, the director directly owned 49,867 shares of the company's stock, valued at approximately $499,168.67. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock valued at $200,067 in the last ninety days. Company insiders own 36.18% of the company's stock.

Institutional Investors Weigh In On Comstock Holding Companies

An institutional investor recently raised its position in Comstock Holding Companies stock. Geode Capital Management LLC lifted its position in shares of Comstock Holding Companies, Inc. (NASDAQ:CHCI - Free Report) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,045 shares of the construction company's stock after purchasing an additional 1,952 shares during the quarter. Geode Capital Management LLC owned approximately 1.60% of Comstock Holding Companies worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission. 6.45% of the stock is currently owned by institutional investors.

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.

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