Insider Buying: Comstock Holding Companies (NASDAQ:CHCI) Director Acquires $11,196.00 in Stock

Key Points

• Director David Hirsh bought 600 CHCI shares at an average price of $18.66, investing a total of $11,196; the transaction was disclosed in an SEC filing.
• Comstock shares rose 1.9% to $19.87, near their 52-week high of $20.40. The company has a $204.26 million market capitalization and recently reported quarterly EPS of $0.84 on $22.58 million in revenue.
• Analyst sentiment remains mixed: Weiss Ratings maintained a hold rating, while Wall Street Zen upgraded the stock to strong buy; overall, MarketBeat reports an average rating of “Hold.”

Comstock Holding Companies, Inc. (NASDAQ:CHCI - Get Free Report) Director David Hirsh bought 600 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was bought at an average cost of $18.66 per share, with a total value of $11,196.00. Following the completion of the acquisition, the director owned 600 shares in the company, valued at $11,196. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Comstock Holding Companies Trading Up 1.9%

CHCI stock traded up $0.38 during trading on Thursday, hitting $19.87. The company had a trading volume of 26,665 shares, compared to its average volume of 24,077. The company has a fifty day moving average price of $15.93 and a two-hundred day moving average price of $15.47. Comstock Holding Companies, Inc. has a fifty-two week low of $10.14 and a fifty-two week high of $20.40. The company has a market cap of $204.26 million, a P/E ratio of 8.42 and a beta of -0.41.

Comstock Holding Companies (NASDAQ:CHCI - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The construction company reported $0.84 earnings per share (EPS) for the quarter. The firm had revenue of $22.58 million during the quarter. Comstock Holding Companies had a return on equity of 35.60% and a net margin of 32.16%.

Institutional Investors Weigh In On Comstock Holding Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in Comstock Holding Companies by 437.7% during the fourth quarter. Barclays PLC now owns 3,839 shares of the construction company's stock worth $45,000 after acquiring an additional 3,125 shares in the last quarter. Sfmg LLC acquired a new stake in shares of Comstock Holding Companies during the fourth quarter worth about $116,000. Quadrature Capital Ltd acquired a new stake in shares of Comstock Holding Companies during the fourth quarter worth about $144,000. NewEdge Advisors LLC lifted its holdings in shares of Comstock Holding Companies by 2,573.9% during the 3rd quarter. NewEdge Advisors LLC now owns 12,273 shares of the construction company's stock valued at $172,000 after purchasing an additional 11,814 shares in the last quarter. Finally, Mink Brook Asset Management LLC acquired a new position in shares of Comstock Holding Companies in the 4th quarter valued at approximately $190,000. Institutional investors own 6.45% of the company's stock.

Analysts Set New Price Targets

CHCI has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Comstock Holding Companies in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Comstock Holding Companies from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Comstock Holding Companies presently has an average rating of "Hold".

About Comstock Holding Companies

Comstock Holding Companies, Inc NASDAQ: CHCI is a diversified holding company that, through its primary operating subsidiary, focuses on the design, construction and operation of fiber optic network systems in the United States. The company delivers high-capacity connectivity solutions to broadband service providers, including dark fiber leasing, wavelength services, transport and last-mile connectivity. By partnering with carriers, cable operators and municipal entities, Comstock leverages its network infrastructure to support residential, commercial and institutional customers requiring scalable, reliable bandwidth.

Following the divestiture of its homebuilding division in 2013, Comstock has concentrated its capital and resources on expanding its fiber network footprint into select regional markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source