Amici Capital Lowers stake in CalAtlantic Group Inc (CAA)

CalAtlantic Group Inc (CAA) : Amici Capital reduced its stake in CalAtlantic Group Inc by 11.14% during the most recent quarter end. The investment management company now holds a total of 391,777 shares of CalAtlantic Group Inc which is valued at $14,041,288 after selling 49,100 shares in CalAtlantic Group Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.CalAtlantic Group Inc makes up approximately 2.86% of Amici Capital’s portfolio.

Other Hedge Funds, Including , Arizona State Retirement System boosted its stake in CAA in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 39,246 shares of CalAtlantic Group Inc which is valued at $1,406,577. CalAtlantic Group Inc makes up approx 0.02% of Arizona State Retirement System’s portfolio. Engineers Gate Manager Lp sold out all of its stake in CAA during the most recent quarter. The investment firm sold 11,100 shares of CAA which is valued $397,824.Dupont Capital Management Corp reduced its stake in CAA by selling 11,555 shares or 36.95% in the most recent quarter. The Hedge Fund company now holds 19,716 shares of CAA which is valued at $716,677. CalAtlantic Group Inc makes up approx 0.02% of Dupont Capital Management Corp’s portfolio. Wcg Management added CAA to its portfolio by purchasing 138,000 company shares during the most recent quarter which is valued at $5,016,300. CalAtlantic Group Inc makes up approx 5.86% of Wcg Management’s portfolio.Louisiana State Employees Retirement System reduced its stake in CAA by selling 1,400 shares or 6.6% in the most recent quarter. The Hedge Fund company now holds 19,800 shares of CAA which is valued at $791,604. CalAtlantic Group Inc makes up approx 0.04% of Louisiana State Employees Retirement System’s portfolio.

On the company’s financial health, CalAtlantic Group Inc reported $0.88 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $1.01. The company had revenue of $1558.70 million for the quarter, compared to analysts expectations of $1748.79 million. The company’s revenue was up 124.4% compared to the same quarter last year.

Investors should note that on Jul 29, 2016, CalAtlantic Group Inc announced a cash dividend of $0.0400. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on CalAtlantic Group Inc. Shares were Reiterated by RBC Capital Mkts on Aug 1, 2016 to “Outperform” and Lowered the Price Target to $ 43 from a previous price target of $48 .Shares were Reiterated by MKM Partners on Aug 1, 2016 to “Buy” and Lowered the Price Target to $ 45 from a previous price target of $47 .RBC Capital Mkts Initiated CalAtlantic Group Inc on Jul 19, 2016 to “Outperform”, Price Target of the shares are set at $48.

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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