Conversant Capital LLC Lowers Stake in United Homes Group, Inc. $UHG

Key Points

• Conversant Capital LLC has reduced its stake in United Homes Group by 5.7%, selling 100,000 shares to hold a total of approximately 1.65 million shares, which represents 0.8% of its overall portfolio.
• Other institutional investors, including JPMorgan Chase & Co. and Northern Trust Corp, have also adjusted their positions, reflecting increased interest in United Homes Group among institutional holders.
• United Homes Group reported a loss of $0.11 EPS for the last quarter, with total revenue of $105.51 million, indicating challenges in profitability despite activity in the homebuilding sector.

Conversant Capital LLC trimmed its position in United Homes Group, Inc. (NASDAQ:UHG - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,655,726 shares of the company's stock after selling 100,000 shares during the period. United Homes Group accounts for approximately 0.8% of Conversant Capital LLC's investment portfolio, making the stock its 15th biggest holding. Conversant Capital LLC owned about 2.83% of United Homes Group worth $4,636,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Anson Funds Management LP increased its position in shares of United Homes Group by 69.6% in the 1st quarter. Anson Funds Management LP now owns 2,543,922 shares of the company's stock valued at $7,123,000 after acquiring an additional 1,043,922 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in United Homes Group in the fourth quarter valued at $423,000. Northern Trust Corp boosted its holdings in United Homes Group by 7.3% in the fourth quarter. Northern Trust Corp now owns 54,357 shares of the company's stock valued at $230,000 after purchasing an additional 3,720 shares during the last quarter. Seven Grand Managers LLC purchased a new stake in United Homes Group in the fourth quarter valued at $180,000. Finally, Millennium Management LLC boosted its holdings in United Homes Group by 42.3% in the fourth quarter. Millennium Management LLC now owns 37,994 shares of the company's stock valued at $161,000 after purchasing an additional 11,289 shares during the last quarter. 88.85% of the stock is owned by institutional investors and hedge funds.

United Homes Group Stock Performance

NASDAQ:UHG traded up $0.01 during mid-day trading on Tuesday, hitting $4.18. The company's stock had a trading volume of 16,565 shares, compared to its average volume of 182,493. United Homes Group, Inc. has a 1 year low of $1.60 and a 1 year high of $6.93. The company has a debt-to-equity ratio of 1.60, a current ratio of 5.41 and a quick ratio of 1.64. The stock has a market cap of $245.78 million, a price-to-earnings ratio of 69.67 and a beta of 1.22. The business's fifty day moving average is $3.75 and its two-hundred day moving average is $3.17.

United Homes Group (NASDAQ:UHG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.11) EPS for the quarter. United Homes Group had a net margin of 1.16% and a return on equity of 6.91%. The business had revenue of $105.51 million during the quarter.

United Homes Group Company Profile

United Homes Group, Inc, a homebuilding company, engages in the design, building, and sale of homes in South Carolina, North Carolina, and Georgia. It provides detached single-family houses, as well as attached single-family houses, including duplex and town houses for entry-level buyers, first time move-ups, second time move-ups, third time move-ups, and custom builds.