Century Communities, Inc. $CCS Shares Sold by AXQ Capital LP

AXQ Capital LP cut its stake in Century Communities, Inc. (NYSE:CCS) by 63.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,553 shares of the construction company’s stock after selling 7,744 shares during the period. AXQ Capital LP’s holdings in Century Communities were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Westwood Holdings Group Inc. lifted its position in Century Communities by 26.6% in the second quarter. Westwood Holdings Group Inc. now owns 1,341,781 shares of the construction company’s stock worth $75,569,000 after purchasing an additional 282,133 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of Century Communities by 32.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,044,604 shares of the construction company’s stock worth $58,832,000 after buying an additional 254,186 shares in the last quarter. Voss Capital LP raised its stake in shares of Century Communities by 280.0% in the 2nd quarter. Voss Capital LP now owns 285,000 shares of the construction company’s stock worth $16,051,000 after buying an additional 210,000 shares in the last quarter. M&G PLC acquired a new stake in shares of Century Communities in the second quarter valued at $11,000,000. Finally, New South Capital Management Inc. bought a new position in Century Communities during the third quarter valued at about $10,028,000. Institutional investors and hedge funds own 99.54% of the company’s stock.

Century Communities Price Performance

NYSE CCS opened at $67.00 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 13.79 and a beta of 1.58. The company has a 50 day simple moving average of $65.88 and a 200-day simple moving average of $63.94. Century Communities, Inc. has a 52-week low of $50.42 and a 52-week high of $76.00.

Century Communities (NYSE:CCS) last released its quarterly earnings data on Wednesday, January 28th. The construction company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.20. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.04 billion. Century Communities had a net margin of 3.58% and a return on equity of 6.87%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.54 EPS. Equities research analysts predict that Century Communities, Inc. will post 11.07 earnings per share for the current fiscal year.

Century Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.32 per share. This is a positive change from Century Communities’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, February 25th. Century Communities’s dividend payout ratio is 26.34%.

Analyst Ratings Changes

Several brokerages have commented on CCS. Zacks Research cut shares of Century Communities from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. B. Riley Financial reaffirmed a “buy” rating on shares of Century Communities in a research note on Thursday, January 29th. Citigroup initiated coverage on shares of Century Communities in a research note on Wednesday, January 21st. They set an “outperform” rating for the company. Citizens Jmp initiated coverage on shares of Century Communities in a report on Wednesday, January 21st. They set a “market outperform” rating and a $92.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on Century Communities from $56.00 to $49.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.75.

Insider Transactions at Century Communities

In other Century Communities news, Chairman Dale Francescon sold 100,100 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $72.44, for a total value of $7,251,244.00. Following the transaction, the chairman directly owned 561,662 shares of the company’s stock, valued at $40,686,795.28. This represents a 15.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 11.90% of the company’s stock.

About Century Communities

Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.

Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.