Comstock Holding Companies (NASDAQ:CHCI) Issues Quarterly Earnings Results

Comstock Holding Companies (NASDAQ:CHCI) announced its earnings results on Thursday. The construction company reported $0.84 earnings per share for the quarter, FiscalAI reports. The company had revenue of $22.58 million during the quarter. Comstock Holding Companies had a net margin of 25.79% and a return on equity of 27.54%.

Comstock Holding Companies Trading Up 1.8%

Shares of CHCI stock traded up $0.30 on Friday, reaching $17.18. The company had a trading volume of 16,703 shares, compared to its average volume of 23,049. The stock has a market cap of $175.47 million, a PE ratio of 10.35 and a beta of -0.41. The company has a 50-day moving average of $15.40 and a 200-day moving average of $15.01. Comstock Holding Companies has a 12 month low of $10.14 and a 12 month high of $19.72.

Wall Street Analyst Weigh In

CHCI has been the topic of several research reports. Wall Street Zen downgraded Comstock Holding Companies from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Comstock Holding Companies in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Insiders Place Their Bets

In related news, COO Timothy Steffan sold 13,026 shares of Comstock Holding Companies stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $14.23, for a total transaction of $185,359.98. Following the transaction, the chief operating officer owned 122,741 shares of the company’s stock, valued at $1,746,604.43. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 35.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Comstock Holding Companies

Hedge funds have recently bought and sold shares of the company. Corsair Capital Management L.P. increased its holdings in shares of Comstock Holding Companies by 8.4% in the first quarter. Corsair Capital Management L.P. now owns 49,236 shares of the construction company’s stock worth $933,000 after acquiring an additional 3,800 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Comstock Holding Companies by 1.8% in the first quarter. Renaissance Technologies LLC now owns 180,479 shares of the construction company’s stock worth $3,418,000 after purchasing an additional 3,213 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Comstock Holding Companies by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 50,922 shares of the construction company’s stock valued at $964,000 after acquiring an additional 3,704 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Comstock Holding Companies by 23.5% during the 4th quarter. NewEdge Advisors LLC now owns 15,155 shares of the construction company’s stock worth $176,000 after purchasing an additional 2,882 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Comstock Holding Companies in the 4th quarter valued at about $144,000. 6.45% of the stock is currently owned by institutional investors and hedge funds.

Comstock Holding Companies Company Profile

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.