Comstock Holding Companies, Inc. (NASDAQ:CHCI) Short Interest Up 36.6% in August

Key Points

• Short interest in Comstock Holding Companies increased by 36.6% in August, rising from 20,500 to 28,000 shares, indicating a growing bearish sentiment among investors.
• Wall Street analysts downgraded the company's stock from a "strong-buy" to a "buy" rating, reflecting cautious optimism about its future performance.
• Insider selling activity was noted as both the COO and CFO sold shares, with a total of 22,947 shares sold over the past three months, which may suggest confidence concerns among company executives.

Comstock Holding Companies, Inc. (NASDAQ:CHCI - Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 28,000 shares, a growth of 36.6% from the August 15th total of 20,500 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 24,500 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily volume of 24,500 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.9% of the shares of the stock are short sold.

Comstock Holding Companies Price Performance

CHCI stock traded down $0.02 during midday trading on Friday, reaching $16.19. 43,731 shares of the company's stock traded hands, compared to its average volume of 39,024. The company has a market capitalization of $163.03 million, a P/E ratio of 10.72 and a beta of 0.18. Comstock Holding Companies has a fifty-two week low of $6.31 and a fifty-two week high of $18.99. The business has a 50-day moving average price of $14.67 and a two-hundred day moving average price of $11.33.

Comstock Holding Companies (NASDAQ:CHCI - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $0.14 earnings per share for the quarter. Comstock Holding Companies had a net margin of 28.35% and a return on equity of 30.98%. The firm had revenue of $12.97 million for the quarter.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director James A. Maccutcheon sold 3,630 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $15.09, for a total value of $54,776.70. Following the completion of the transaction, the director owned 143,416 shares in the company, valued at $2,164,147.44. This trade represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher Michael Guthrie sold 4,367 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $14.82, for a total transaction of $64,718.94. Following the transaction, the chief financial officer owned 119,545 shares of the company's stock, valued at $1,771,656.90. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,947 shares of company stock worth $345,893 in the last 90 days. 36.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comstock Holding Companies

Institutional investors have recently modified their holdings of the company. Corsair Capital Management L.P. increased its holdings in shares of Comstock Holding Companies by 6.4% in the 2nd quarter. Corsair Capital Management L.P. now owns 51,131 shares of the construction company's stock worth $516,000 after acquiring an additional 3,085 shares during the period. Truffle Hound Capital LLC acquired a new stake in shares of Comstock Holding Companies in the 2nd quarter worth about $1,146,000. Finally, Geode Capital Management LLC increased its holdings in shares of Comstock Holding Companies by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 161,045 shares of the construction company's stock worth $1,625,000 after acquiring an additional 1,952 shares during the period. Institutional investors own 6.45% of the company's stock.

Comstock Holding Companies Company Profile

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.