Insider Selling: Comstock Holding Companies (NASDAQ:CHCI) COO Sells $185,359.98 in Stock

Comstock Holding Companies, Inc. (NASDAQ:CHCI) COO Timothy Steffan sold 13,026 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $14.23, for a total value of $185,359.98. Following the completion of the sale, the chief operating officer directly owned 122,741 shares in the company, 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 is available at this hyperlink.

Timothy Steffan also recently made the following trade(s):

• On Monday, March 23rd, Timothy Steffan sold 9,740 shares of Comstock Holding Companies stock. The shares were sold at an average price of $15.61, for a total value of $152,041.40.

Comstock Holding Companies Stock Up 7.4%

CHCI opened at $14.86 on Friday. Comstock Holding Companies, Inc. has a 12-month low of $9.00 and a 12-month high of $19.72. The firm has a market capitalization of $151.72 million, a P/E ratio of 8.95 and a beta of -0.43. The stock’s 50 day moving average price is $16.88 and its two-hundred day moving average price is $13.94.

Comstock Holding Companies (NASDAQ:CHCI) last released its quarterly earnings data on Thursday, May 14th. The construction company reported $0.19 earnings per share (EPS) for the quarter. The business had revenue of $17.45 million for the quarter. Comstock Holding Companies had a return on equity of 27.54% and a net margin of 25.79%.

Institutional Investors Weigh In On Comstock Holding Companies

A number of institutional investors and hedge funds have recently made changes to their positions in CHCI. Corsair Capital Management L.P. grew its stake in shares of Comstock Holding Companies by 8.4% during the first quarter. Corsair Capital Management L.P. now owns 49,236 shares of the construction company’s stock worth $933,000 after purchasing an additional 3,800 shares during the period. Renaissance Technologies LLC grew its stake in shares of Comstock Holding Companies by 1.8% during 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 during the period. Dimensional Fund Advisors LP grew its stake in shares of Comstock Holding Companies by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 50,922 shares of the construction company’s stock worth $964,000 after purchasing an additional 3,704 shares during the period. NewEdge Advisors LLC grew its stake in shares of Comstock Holding Companies by 23.5% during the fourth 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 during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of Comstock Holding Companies during the fourth quarter worth $144,000. Institutional investors own 6.45% of the company’s stock.

Analysts Set New Price Targets

CHCI has been the subject of several analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Comstock Holding Companies in a research report on Friday, March 27th. Wall Street Zen downgraded Comstock Holding Companies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

About Comstock Holding Companies

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.