Impala Asset Management Lowers stake in CalAtlantic Group Inc (CAA)

CalAtlantic Group Inc (CAA) : Impala Asset Management reduced its stake in CalAtlantic Group Inc by 9.02% during the most recent quarter end. The investment management company now holds a total of 2,715,152 shares of CalAtlantic Group Inc which is valued at $92.4 Million after selling 269,085 shares in CalAtlantic Group Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.CalAtlantic Group Inc makes up approximately 6.04% of Impala Asset Management’s portfolio.

Other Hedge Funds, Including , Mark Asset Management Corp added CAA to its portfolio by purchasing 96,000 company shares during the most recent quarter which is valued at $3.3 Million. CalAtlantic Group Inc makes up approx 0.97% of Mark Asset Management Corp’s portfolio.Penn Capital Management Co Inc reduced its stake in CAA by selling 8,477 shares or 4.21% in the most recent quarter. The Hedge Fund company now holds 192,948 shares of CAA which is valued at $6.6 Million. CalAtlantic Group Inc makes up approx 0.38% of Penn Capital Management Co Inc’s portfolio. Cupps Capital Management sold out all of its stake in CAA during the most recent quarter. The investment firm sold 35,727 shares of CAA which is valued $1.2 Million.Blackrock Group Ltd boosted its stake in CAA in the latest quarter, The investment management firm added 10,075 additional shares and now holds a total of 45,100 shares of CalAtlantic Group Inc which is valued at $1.5 Million.

On the company’s financial health, CalAtlantic Group Inc reported $0.60 EPS for the quarter, missing the analyst consensus estimate by $ -0.23 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.83. The company had revenue of $1179.00 million for the quarter, compared to analysts expectations of $1510.56 million. The company’s revenue was up 151.7% compared to the same quarter last year.

Investors should note that on May 3, 2016, CalAtlantic Group Inc announced a cash dividend of $0.0400. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jun 30, 2016.

Many Wall Street Analysts have commented on CalAtlantic Group Inc. Raymond James Upgraded CalAtlantic Group Inc on May 13, 2016 to ” Outperform”, Price Target of the shares are set at $39.Company shares were Reiterated by FBR Capital on May 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 37 from a previous price target of $32 .Company shares were Reiterated by MKM Partners on May 9, 2016 to “Neutral”, Firm has raised the Price Target to $ 38 from a previous price target of $34 .

Calatlantic Group Inc. formerly Standard Pacific Corp. is a builder of single-family attached and detached homes. The Company operates in two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land and construct and sell single-family attached and detached homes. The homebuilding operating segments are grouped into three segments: California; Southwest consisting of its operating divisions in Arizona Texas Colorado and Nevada; and Southeast consisting of its operating divisions in Florida and the Carolinas. The Company’s Financial Services segment includes mortgage financing operation which provides mortgage financing to its homebuyers. The Company’s title services operation provides title examinations for its homebuyers in Texas and Florida.

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