WCI Communities Inc. (WCIC) Short Interest Up 48.5% in September
WCI Communities Inc. (NYSE:WCIC) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,397,731 shares, an increase of 48.5% from the August 31st total of 941,466 shares. Based on an average daily trading volume, of 487,435 shares, the short-interest ratio is currently 2.9 days. Currently, 5.4% of the shares of the company are short sold.
A number of brokerages have commented on WCIC. JMP Securities began coverage on shares of WCI Communities in a report on Wednesday, August 31st. They set an “outperform” rating and a $18.77 target price for the company. Credit Suisse Group AG reissued a “buy” rating on shares of WCI Communities in a research note on Tuesday, June 28th. Zacks Investment Research raised shares of WCI Communities from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 19th. TheStreet raised shares of WCI Communities from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. Finally, Wedbush began coverage on shares of WCI Communities in a research note on Monday, September 19th. They issued a “neutral” rating and a $21.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $21.68.
WCI Communities (NYSE:WCIC) opened at 23.55 on Thursday. WCI Communities has a 12 month low of $15.41 and a 12 month high of $25.00. The company’s 50 day moving average is $19.72 and its 200-day moving average is $17.93. The company has a market cap of $620.26 million, a price-to-earnings ratio of 17.46 and a beta of 1.44.
WCI Communities (NYSE:WCIC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The firm had revenue of $167.40 million for the quarter, compared to analysts’ expectations of $156.99 million. WCI Communities had a net margin of 5.80% and a return on equity of 7.55%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS. On average, analysts expect that WCI Communities will post $1.34 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in WCIC. BlackRock Inc. boosted its position in WCI Communities by 584.8% in the second quarter. BlackRock Inc. now owns 6,759 shares of the company’s stock worth $115,000 after buying an additional 5,772 shares during the last quarter. BlackRock Advisors LLC boosted its position in WCI Communities by 24.8% in the second quarter. BlackRock Advisors LLC now owns 10,658 shares of the company’s stock worth $180,000 after buying an additional 2,116 shares during the last quarter. American International Group Inc. boosted its position in WCI Communities by 33.5% in the second quarter. American International Group Inc. now owns 12,468 shares of the company’s stock worth $211,000 after buying an additional 3,126 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in WCI Communities during the second quarter worth approximately $224,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in WCI Communities by 48.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 15,960 shares of the company’s stock worth $270,000 after buying an additional 5,227 shares during the last quarter. 94.96% of the stock is currently owned by hedge funds and other institutional investors.
WCI Communities Company Profile
WCI Communities, Inc is a holding company. The Company is a lifestyle community developer and luxury homebuilder of single- and multi-family homes, including luxury high-rise tower units, in coastal Florida’s markets. The Company’s segments include Homebuilding, Real Estate Services and Amenities. The Homebuilding segment designs, sells and builds single- and multi-family homes and tower units.
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