Premier Asset Managment Lowers stake in CalAtlantic Group Inc (CAA)

CalAtlantic Group Inc (CAA) : Premier Asset Managment reduced its stake in CalAtlantic Group Inc by 2.01% during the most recent quarter end. The investment management company now holds a total of 265,125 shares of CalAtlantic Group Inc which is valued at $8,568,840 after selling 5,450 shares in CalAtlantic Group Inc , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.CalAtlantic Group Inc makes up approximately 2.18% of Premier Asset Managment’s portfolio.

Other Hedge Funds, Including , Fisher Asset Management boosted its stake in CAA in the latest quarter, The investment management firm added 54,710 additional shares and now holds a total of 2,327,163 shares of CalAtlantic Group Inc which is valued at $77,261,812. CalAtlantic Group Inc makes up approx 0.14% of Fisher Asset Management’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in CAA in the latest quarter, The investment management firm added 514 additional shares and now holds a total of 26,270 shares of CalAtlantic Group Inc which is valued at $872,164. CalAtlantic Group Inc makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.Sadoff Investment Management boosted its stake in CAA in the latest quarter, The investment management firm added 5,950 additional shares and now holds a total of 600,855 shares of CalAtlantic Group Inc which is valued at $19,834,224. CalAtlantic Group Inc makes up approx 2.20% of Sadoff Investment Management’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.

Many Wall Street Analysts have commented on CalAtlantic Group Inc. CalAtlantic Group Inc was Initiated by Wells Fargo to “Market Perform” on Sep 29, 2016. Wedbush Initiated CalAtlantic Group Inc on Sep 20, 2016 to “Outperform”, Price Target of the shares are set at $44.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 .

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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