Tejon Ranch (NYSE:TRC) Shares Cross Below 200-Day Moving Average - Here's What Happened

Key Points

• Tejon Ranch Co shares dropped below their 200-day moving average of $16.88, hitting a low of $15.71 during trading, and last traded at $15.90 with a volume of 74,212 shares.
• The company reported a loss per share of ($0.06) for the last quarter, missing estimates, although revenue of $8.31 million surpassed expectations.
• Institutional investors now hold 60.63% of Tejon Ranch's stock, with several hedge funds significantly increasing their stakes in the first quarter.

Tejon Ranch Co (NYSE:TRC - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $16.88 and traded as low as $15.71. Tejon Ranch shares last traded at $15.90, with a volume of 74,212 shares changing hands.

Tejon Ranch Price Performance

The stock's 50-day moving average price is $17.17 and its 200 day moving average price is $16.88. The firm has a market capitalization of $427.42 million, a price-to-earnings ratio of -1,589.50 and a beta of 0.64. The company has a quick ratio of 1.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.17.

Tejon Ranch (NYSE:TRC - Get Free Report) last issued its earnings results on Thursday, August 7th. The real estate development and agribusiness company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). The business had revenue of $8.31 million during the quarter, compared to analyst estimates of $8.10 million. Tejon Ranch had a negative net margin of 1.17% and a negative return on equity of 0.11%. Equities research analysts expect that Tejon Ranch Co will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Brett A. Brown sold 5,356 shares of the company's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $18.55, for a total value of $99,353.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.44% of the company's stock.

Institutional Investors Weigh In On Tejon Ranch

Hedge funds have recently modified their holdings of the company. Nuveen LLC purchased a new stake in shares of Tejon Ranch in the first quarter valued at about $1,046,000. CenterBook Partners LP grew its holdings in shares of Tejon Ranch by 117.4% in the first quarter. CenterBook Partners LP now owns 145,039 shares of the real estate development and agribusiness company's stock valued at $2,299,000 after purchasing an additional 78,339 shares during the period. GAMMA Investing LLC grew its holdings in shares of Tejon Ranch by 4,636.1% in the first quarter. GAMMA Investing LLC now owns 3,931 shares of the real estate development and agribusiness company's stock valued at $62,000 after purchasing an additional 3,848 shares during the period. American Century Companies Inc. grew its holdings in shares of Tejon Ranch by 9.8% in the first quarter. American Century Companies Inc. now owns 47,924 shares of the real estate development and agribusiness company's stock valued at $760,000 after purchasing an additional 4,288 shares during the period. Finally, NBC Securities Inc. grew its holdings in shares of Tejon Ranch by 86,300.0% in the first quarter. NBC Securities Inc. now owns 1,728 shares of the real estate development and agribusiness company's stock valued at $27,000 after purchasing an additional 1,726 shares during the period. Hedge funds and other institutional investors own 60.63% of the company's stock.

Tejon Ranch Company Profile

Tejon Ranch Co, together with its subsidiaries, operates as a diversified real estate development and agribusiness company. It operates through five segments: Commercial/Industrial Real Estate Development, Resort/Residential Real Estate Development, Mineral Resources, Farming, and Ranch Operations. The Commercial/Industrial Real Estate Development segment engages in the planning and permitting of land for development; construction of infrastructure projects, pre-leased buildings, and buildings to be leased or sold; and sale of land to third parties for their own development.

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