Comstock Inc. $LODE Shares Bought by Sei Investments Co.

Key Points

• Sei Investments increased its Comstock stake by 286% in the first quarter, purchasing 1.26 million additional shares to own 1.7 million shares, or approximately 2.24% of the company.
• Comstock insiders have also been buying shares, acquiring 1.11 million shares worth about $4.18 million over the past 90 days. Institutional investors and hedge funds collectively own 7.96% of the stock.
• Analyst sentiment remains cautious: UBS reiterated a “reduce” rating, with Comstock carrying an average “Reduce” rating and a $4.00 price target. The company recently reported a quarterly loss of $0.34 per share on $0.27 million in revenue.

Sei Investments Co. lifted its stake in shares of Comstock Inc. (NYSEAMERICAN:LODE - Free Report) by 286.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,700,841 shares of the company's stock after purchasing an additional 1,260,259 shares during the quarter. Sei Investments Co. owned about 2.24% of Comstock worth $5,188,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rockefeller Capital Management L.P. raised its position in shares of Comstock by 133.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the company's stock worth $26,000 after buying an additional 4,000 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Comstock in the fourth quarter valued at approximately $39,000. Wealth Effects LLC bought a new position in shares of Comstock in the first quarter valued at approximately $34,000. MML Investors Services LLC acquired a new position in shares of Comstock during the fourth quarter valued at approximately $45,000. Finally, Virtu Financial LLC acquired a new position in shares of Comstock during the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 7.96% of the company's stock.

Insiders Place Their Bets

In related news, Director Steven Yu-Tsung Pei acquired 345,000 shares of the business's stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $3.38 per share, for a total transaction of $1,166,100.00. Following the transaction, the director owned 1,451,421 shares of the company's stock, valued at approximately $4,905,802.98. The trade was a 31.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Corrado Degasperis acquired 35,000 shares of Comstock stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $2.89 per share, with a total value of $101,150.00. Following the completion of the purchase, the chief executive officer owned 170,818 shares in the company, valued at approximately $493,664.02. This represents a 25.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 1,111,651 shares of company stock worth $4,177,981. 2.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, UBS Group reissued a "reduce" rating on shares of Comstock in a report on Monday, June 22nd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Comstock currently has an average rating of "Reduce" and an average price target of $4.00.

Comstock Price Performance

Shares of Comstock stock opened at $3.18 on Wednesday. Comstock Inc. has a 52 week low of $2.24 and a 52 week high of $4.98. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.08. The stock has a market cap of $241.65 million, a PE ratio of -3.09 and a beta of 1.42. The company's 50-day moving average price is $3.94 and its two-hundred day moving average price is $3.49.

Comstock (NYSEAMERICAN:LODE - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported ($0.34) earnings per share for the quarter. Comstock had a negative net margin of 6,016.37% and a negative return on equity of 30.98%. The business had revenue of $0.27 million for the quarter. As a group, sell-side analysts anticipate that Comstock Inc. will post -0.33 EPS for the current fiscal year.

Comstock Company Profile

Comstock Mining, Inc NYSE: LODE is a growth-oriented mineral exploration and production company focused on the historic Comstock Lode in Virginia City, Nevada. The company’s primary business activities include the development, extraction and sale of gold and silver from its flagship Lucerne project. Comstock leverages modern mining techniques and infrastructure to access high-grade ore bodies in one of North America’s most renowned silver-gold districts.

In addition to its core precious metals operations, Comstock Mining maintains a commercial real estate division centered in Virginia City’s historic district.

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