WCI Communities Inc. (NYSE:WCIC) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,397,731 shares, a growth of 48.5% from the August 31st total of 941,466 shares. Currently, 5.4% of the shares of the company are short sold. Based on an average daily trading volume, of 487,435 shares, the days-to-cover ratio is presently 2.9 days.
Shares of WCI Communities (NYSE:WCIC) opened at 23.42 on Friday. The company’s 50 day moving average price is $20.09 and its 200 day moving average price is $18.00. The stock has a market cap of $616.84 million, a PE ratio of 17.36 and a beta of 1.44. WCI Communities has a 52-week low of $15.41 and a 52-week high of $25.00.
WCI Communities (NYSE:WCIC) last announced its earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. WCI Communities had a return on equity of 7.55% and a net margin of 5.80%. The firm had revenue of $167.40 million for the quarter, compared to the consensus estimate of $156.99 million. During the same period in the previous year, the business earned $0.37 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts anticipate that WCI Communities will post $1.32 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of WCIC. BlackRock Inc. increased its stake in WCI Communities by 584.8% in the second quarter. BlackRock Inc. now owns 6,759 shares of the company’s stock valued at $115,000 after buying an additional 5,772 shares during the last quarter. BlackRock Advisors LLC increased its stake in WCI Communities by 24.8% in the second quarter. BlackRock Advisors LLC now owns 10,658 shares of the company’s stock valued at $180,000 after buying an additional 2,116 shares during the last quarter. American International Group Inc. increased its stake in WCI Communities by 33.5% in the second quarter. American International Group Inc. now owns 12,468 shares of the company’s stock valued at $211,000 after buying an additional 3,126 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in WCI Communities during the second quarter valued at $224,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in WCI Communities by 48.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 15,960 shares of the company’s stock valued at $270,000 after buying an additional 5,227 shares during the last quarter. Institutional investors and hedge funds own 94.96% of the company’s stock.
WCIC has been the topic of several recent research reports. Credit Suisse Group AG reaffirmed a “buy” rating on shares of WCI Communities in a research note on Tuesday, July 12th. JMP Securities initiated coverage on WCI Communities in a research note on Wednesday, August 31st. They issued an “outperform” rating and a $18.77 price objective on the stock. TheStreet raised WCI Communities from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. Wedbush initiated coverage on WCI Communities in a research note on Monday, September 19th. They issued a “neutral” rating and a $21.00 price objective on the stock. Finally, Zacks Investment Research downgraded WCI Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.68.
WCI Communities Company Profile
WCI Communities, Inc is a holding company. The Company is a lifestyle community developer and luxury homebuilder of single- and multi-family homes, including luxury high-rise tower units, in coastal Florida’s markets. The Company’s segments include Homebuilding, Real Estate Services and Amenities. The Homebuilding segment designs, sells and builds single- and multi-family homes and tower units.
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