Covalent Partners buys $17.2 Million stake in WCI Communities Inc (WCIC)

WCI Communities Inc (WCIC) : Covalent Partners scooped up 3,791 additional shares in WCI Communities Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 1,095,665 shares of WCI Communities Inc which is valued at $17.2 Million.WCI Communities Inc makes up approximately 5.91% of Covalent Partners’s portfolio.

Other Hedge Funds, Including , Capital Growth Management Lp sold out all of its stake in WCIC during the most recent quarter. The investment firm sold 335,000 shares of WCIC which is valued $5.3 Million.1492 Capital Management reduced its stake in WCIC by selling 1,143 shares or 3.36% in the most recent quarter. The Hedge Fund company now holds 32,852 shares of WCIC which is valued at $516,105. WCI Communities Inc makes up approx 0.44% of 1492 Capital Management’s portfolio.Blackrock Advisors boosted its stake in WCIC in the latest quarter, The investment management firm added 830 additional shares and now holds a total of 8,542 shares of WCI Communities Inc which is valued at $134,195.Scout Investments boosted its stake in WCIC in the latest quarter, The investment management firm added 47,400 additional shares and now holds a total of 160,500 shares of WCI Communities Inc which is valued at $2.6 Million. WCI Communities Inc makes up approx 0.07% of Scout Investments’s portfolio.Russell Frank Co boosted its stake in WCIC in the latest quarter, The investment management firm added 11,524 additional shares and now holds a total of 13,270 shares of WCI Communities Inc which is valued at $212,055.

WCI Communities Inc closed down -0.21 points or -1.22% at $16.96 with 1,26,440 shares getting traded on Wednesday. Post opening the session at $17.22, the shares hit an intraday low of $16.93 and an intraday high of $17.35 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, WCI Communities Inc reported $0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.16. The company had revenue of $138.30 million for the quarter, compared to analysts expectations of $118.53 million. The company’s revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.

Many Wall Street Analysts have commented on WCI Communities Inc. WCI Communities Inc was Initiated by Sidoti to “Buy” on May 20, 2016. Shares were Reiterated by FBR Capital on Apr 28, 2016 to “Outperform” and Lowered the Price Target to $ 21 from a previous price target of $23 .WCI Communities Inc was Downgraded by Raymond James to ” Outperform” on Apr 28, 2016.

WCI Communities Inc. is a lifestyle community developer and luxury homebuilder of single- and multi-family homes. The Company’s business is organized into three operating segments: Homebuilding which designs sells and builds homes across a range of price points and sizes; Real Estate Services which operates a real estate brokerage business under the Berkshire Hathaway HomeServices brand and title services and Amenities which includes the construction ownership and management of recreational amenities in residential communities that it develops. Amenities consist of golf courses and country clubs marinas and resort-style facilities.

Leave a Reply

WCI Communities Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on WCI Communities Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.