Penn Capital Management Company LLC Invests $1.65 Million in Century Communities, Inc. $CCS

Penn Capital Management Company LLC bought a new position in shares of Century Communities, Inc. (NYSE:CCS) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 25,990 shares of the construction company’s stock, valued at approximately $1,647,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCS. Westwood Holdings Group Inc. increased its position in shares of Century Communities by 26.6% during the second quarter. Westwood Holdings Group Inc. now owns 1,341,781 shares of the construction company’s stock worth $75,569,000 after acquiring an additional 282,133 shares during the period. Balyasny Asset Management L.P. grew its position in shares of Century Communities by 32.2% during the second quarter. Balyasny Asset Management L.P. now owns 1,044,604 shares of the construction company’s stock worth $58,832,000 after buying an additional 254,186 shares in the last quarter. Voss Capital LP increased its stake in shares of Century Communities by 280.0% during the second quarter. Voss Capital LP now owns 285,000 shares of the construction company’s stock worth $16,051,000 after buying an additional 210,000 shares during the period. New South Capital Management Inc. purchased a new position in Century Communities in the third quarter worth approximately $10,028,000. Finally, Squarepoint Ops LLC grew its holdings in Century Communities by 70.6% during the 3rd quarter. Squarepoint Ops LLC now owns 242,494 shares of the construction company’s stock worth $15,367,000 after acquiring an additional 100,313 shares in the last quarter. Hedge funds and other institutional investors own 99.54% of the company’s stock.

Insider Buying and Selling at Century Communities

In other news, Chairman Dale Francescon sold 100,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $72.44, for a total transaction of $7,251,244.00. Following the transaction, the chairman directly owned 561,662 shares in the company, valued at approximately $40,686,795.28. This trade represents a 15.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.60% of the company’s stock.

Century Communities Stock Performance

NYSE CCS opened at $58.35 on Wednesday. The company has a fifty day moving average of $66.45 and a two-hundred day moving average of $63.60. The company has a market capitalization of $1.69 billion, a PE ratio of 12.01 and a beta of 1.54. Century Communities, Inc. has a 1 year low of $50.42 and a 1 year high of $76.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 1.08.

Century Communities (NYSE:CCS) last posted its earnings results on Wednesday, January 28th. The construction company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.20. Century Communities had a return on equity of 6.87% and a net margin of 3.58%.The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the firm earned $3.54 earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. As a group, analysts expect that Century Communities, Inc. will post 11.07 earnings per share for the current year.

Century Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This is an increase from Century Communities’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 2.2%. Century Communities’s dividend payout ratio is currently 26.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CCS shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Century Communities in a research report on Wednesday, January 21st. JPMorgan Chase & Co. decreased their target price on Century Communities from $56.00 to $49.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. Citigroup started coverage on Century Communities in a report on Wednesday, January 21st. They issued an “outperform” rating for the company. Citizens Jmp started coverage on shares of Century Communities in a research note on Wednesday, January 21st. They issued a “market outperform” rating and a $92.00 price target on the stock. Finally, Zacks Research cut shares of Century Communities from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.75.

About Century Communities

Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.

Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.