Comstock Holding Companies (NASDAQ:CHCI) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Comstock Holding Companies, Inc. (NASDAQ:CHCI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.72 and traded as high as $15.54. Comstock Holding Companies shares last traded at $15.26, with a volume of 38,009 shares traded.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Comstock Holding Companies from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Comstock Holding Companies in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Comstock Holding Companies presently has an average rating of “Hold”.

Comstock Holding Companies Stock Down 0.9%

The stock’s 50-day moving average price is $15.49 and its 200 day moving average price is $14.75. The firm has a market capitalization of $150.09 million, a price-to-earnings ratio of 8.86 and a beta of -0.43.

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

Insiders Place Their Bets

In other Comstock Holding Companies news, COO Timothy Steffan sold 13,026 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was 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 represents a 9.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 35.03% of the company’s stock.

Institutional Investors Weigh In On Comstock Holding Companies

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its stake in shares of Comstock Holding Companies by 6.4% in the 4th quarter. State Street Corp now owns 16,721 shares of the construction company’s stock valued at $194,000 after buying an additional 1,000 shares during the period. Geode Capital Management LLC increased its holdings in shares of Comstock Holding Companies by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 161,045 shares of the construction company’s stock worth $1,625,000 after buying an additional 1,952 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Comstock Holding Companies by 7.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 38,775 shares of the construction company’s stock valued at $543,000 after buying an additional 2,704 shares during the period. NewEdge Advisors LLC lifted its holdings in Comstock Holding Companies by 23.5% in the fourth quarter. NewEdge Advisors LLC now owns 15,155 shares of the construction company’s stock valued at $176,000 after acquiring an additional 2,882 shares during the last quarter. Finally, Barclays PLC grew its position in Comstock Holding Companies by 437.7% in the fourth quarter. Barclays PLC now owns 3,839 shares of the construction company’s stock worth $45,000 after acquiring an additional 3,125 shares during the period. 6.45% of the stock is currently owned by institutional investors and hedge funds.

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.