Bridgeway Capital Management LLC Takes $9.04 Million Position in Century Communities, Inc. $CCS

Key Points

• Bridgeway Capital Management LLC has made a new investment in Century Communities, purchasing approximately 134,774 shares valued at $9.04 million, representing a 0.44% ownership stake in the company.
• Century Communities reported quarterly earnings with an EPS of $1.37, surpassing estimates, while also experiencing a 1.7% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.29, yielding 1.8%, with a payout ratio of 14.16% and payment scheduled for September 10th, 2023.

Bridgeway Capital Management LLC purchased a new stake in shares of Century Communities, Inc. (NYSE:CCS - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 134,774 shares of the construction company's stock, valued at approximately $9,043,000. Bridgeway Capital Management LLC owned about 0.44% of Century Communities at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Century Communities by 32.5% in the first quarter. Wellington Management Group LLP now owns 1,558,751 shares of the construction company's stock worth $104,592,000 after purchasing an additional 382,408 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Century Communities by 32.2% during the first quarter. Westwood Holdings Group Inc. now owns 1,059,648 shares of the construction company's stock valued at $71,102,000 after buying an additional 258,245 shares during the last quarter. Nuveen LLC purchased a new position in shares of Century Communities in the first quarter worth about $11,583,000. Assenagon Asset Management S.A. increased its holdings in shares of Century Communities by 806.7% in the first quarter. Assenagon Asset Management S.A. now owns 127,902 shares of the construction company's stock worth $8,582,000 after buying an additional 113,796 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Century Communities by 10,656.4% in the 1st quarter. GAMMA Investing LLC now owns 105,951 shares of the construction company's stock valued at $7,109,000 after acquiring an additional 104,966 shares during the last quarter. 99.54% of the stock is currently owned by institutional investors.

Century Communities Trading Down 3.1%

Shares of Century Communities stock traded down $2.15 during midday trading on Tuesday, reaching $67.65. 71,113 shares of the company's stock traded hands, compared to its average volume of 421,507. The stock has a 50 day moving average of $62.28 and a 200-day moving average of $60.74. Century Communities, Inc. has a 12 month low of $50.42 and a 12 month high of $108.42. The company has a market cap of $2.01 billion, a PE ratio of 8.25 and a beta of 1.46. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.55 and a current ratio of 0.55.

Century Communities (NYSE:CCS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.21. Century Communities had a net margin of 6.03% and a return on equity of 10.99%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $910.70 million. During the same period in the previous year, the firm earned $2.65 EPS. The company's quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts expect that Century Communities, Inc. will post 11.07 EPS for the current fiscal year.

Century Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, August 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.7%. Century Communities's payout ratio is currently 14.16%.

Analysts Set New Price Targets

Several research firms recently issued reports on CCS. Zacks Research lowered Century Communities from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 28th. Wall Street Zen upgraded shares of Century Communities from a "sell" rating to a "hold" rating in a report on Friday. Finally, B. Riley assumed coverage on shares of Century Communities in a research note on Monday, June 30th. They issued a "buy" rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $85.00.

About Century Communities

Century Communities, Inc, together with its subsidiaries, engages in the design, development, construction, marketing, and sale of single-family attached and detached homes. It is also involved in the entitlement and development of the underlying land; and provision of mortgage, title, and insurance services to its homebuyers.