WCI Communities Inc. (NYSE:WCIC) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,397,731 shares, a growth of 48.5% from the August 31st total of 941,466 shares. Approximately 5.4% of the company’s shares are short sold. Based on an average daily volume of 487,435 shares, the short-interest ratio is presently 2.9 days.
Several research analysts have recently issued reports on WCIC shares. Credit Suisse Group AG reissued a “buy” rating on shares of WCI Communities in a research report on Tuesday, June 28th. Zacks Investment Research raised WCI Communities from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 19th. TheStreet raised WCI Communities from a “hold” rating to a “buy” rating in a research report on Monday, August 15th. JMP Securities began coverage on WCI Communities in a research report on Wednesday, August 31st. They issued an “outperform” rating and a $18.77 target price for the company. Finally, Wedbush began coverage on WCI Communities in a research note on Monday, September 19th. They issued a “neutral” rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $21.68.
Several hedge funds and other institutional investors have recently made changes to their positions in WCIC. BlackRock Inc. raised its position in shares of WCI Communities by 584.8% in the second quarter. BlackRock Inc. now owns 6,759 shares of the company’s stock valued at $115,000 after buying an additional 5,772 shares during the period. BlackRock Advisors LLC raised its position in shares of WCI Communities by 24.8% in the second quarter. BlackRock Advisors LLC now owns 10,658 shares of the company’s stock valued at $180,000 after buying an additional 2,116 shares during the period. American International Group Inc. raised its position in shares of WCI Communities by 33.5% in the second quarter. American International Group Inc. now owns 12,468 shares of the company’s stock valued at $211,000 after buying an additional 3,126 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of WCI Communities during the second quarter valued at about $224,000. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of WCI Communities by 48.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 15,960 shares of the company’s stock valued at $270,000 after buying an additional 5,227 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.
Shares of WCI Communities (NYSE:WCIC) opened at 23.72 on Monday. WCI Communities has a 52 week low of $15.41 and a 52 week high of $25.00. The stock has a market capitalization of $624.74 million, a P/E ratio of 17.58 and a beta of 1.51. The firm’s 50-day moving average price is $19.18 and its 200 day moving average price is $17.83.
WCI Communities (NYSE:WCIC) last announced its earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. WCI Communities had a return on equity of 7.55% and a net margin of 5.80%. The business earned $167.40 million during the quarter, compared to analyst estimates of $156.99 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts expect that WCI Communities will post $1.34 earnings per share for the current year.
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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