St. Joe (NYSE:JOE) Downgraded by StockNews.com to Sell

St. Joe (NYSE:JOEGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

St. Joe Trading Up 2.1 %

Shares of JOE opened at $37.02 on Thursday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 29.15 and a beta of 1.24. St. Joe has a 1-year low of $31.11 and a 1-year high of $62.21. The company’s fifty day simple moving average is $34.44 and its 200 day simple moving average is $39.55.

Hedge Funds Weigh In On St. Joe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its position in St. Joe by 197.2% during the second quarter. CWM LLC now owns 746 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 495 shares during the period. Princeton Global Asset Management LLC boosted its position in St. Joe by 209.4% during the first quarter. Princeton Global Asset Management LLC now owns 1,553 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 1,051 shares during the period. Selway Asset Management bought a new position in St. Joe during the third quarter worth $58,000. Worth Asset Management LLC bought a new position in St. Joe during the first quarter worth $90,000. Finally, Point72 Hong Kong Ltd bought a new position in St. Joe during the second quarter worth $82,000. 87.17% of the stock is owned by institutional investors.

About St. Joe

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The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment plans and develops residential communities of various sizes for homebuilders or retail consumers.

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