Perritt Capital Management Inc Increases Stock Position in Carriage Services, Inc. (NYSE:CSV)

Perritt Capital Management Inc raised its position in Carriage Services, Inc. (NYSE:CSV) by 5,001.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,101 shares of the company’s stock after acquiring an additional 5,001 shares during the quarter. Perritt Capital Management Inc’s holdings in Carriage Services were worth $137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSV. Price T Rowe Associates Inc. MD grew its stake in shares of Carriage Services by 7.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,475 shares of the company’s stock worth $284,000 after purchasing an additional 746 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new position in shares of Carriage Services during the first quarter valued at approximately $27,000. nVerses Capital LLC raised its holdings in shares of Carriage Services by 550.0% during the second quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock valued at $35,000 after acquiring an additional 1,100 shares in the last quarter. Parallel Advisors LLC purchased a new stake in Carriage Services in the fourth quarter worth $38,000. Finally, Rhumbline Advisers lifted its stake in Carriage Services by 8.4% in the second quarter. Rhumbline Advisers now owns 20,755 shares of the company’s stock worth $557,000 after acquiring an additional 1,616 shares during the period. 66.46% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Shawn R. Phillips sold 7,101 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $30.00, for a total transaction of $213,030.00. Following the completion of the transaction, the vice president now owns 90,700 shares of the company’s stock, valued at approximately $2,721,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Carlos R. Quezada purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $29.44 per share, for a total transaction of $58,880.00. Following the purchase, the chief executive officer now directly owns 60,061 shares in the company, valued at approximately $1,768,195.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Shawn R. Phillips sold 7,101 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $30.00, for a total transaction of $213,030.00. Following the sale, the vice president now directly owns 90,700 shares in the company, valued at $2,721,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,544 shares of company stock worth $401,074. Insiders own 12.10% of the company’s stock.

Carriage Services Stock Performance

Shares of Carriage Services stock opened at $32.13 on Thursday. Carriage Services, Inc. has a 12 month low of $18.06 and a 12 month high of $35.00. The firm has a market capitalization of $488.70 million, a P/E ratio of 15.83, a P/E/G ratio of 0.92 and a beta of 0.94. The company has a current ratio of 0.85, a quick ratio of 0.69 and a debt-to-equity ratio of 2.14. The business has a fifty day simple moving average of $30.58 and a two-hundred day simple moving average of $27.71.

Carriage Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.1125 per share. The ex-dividend date was Monday, August 5th. This represents a $0.45 annualized dividend and a dividend yield of 1.40%. Carriage Services’s payout ratio is 22.17%.

Wall Street Analyst Weigh In

Several brokerages have commented on CSV. Barrington Research restated an “outperform” rating and issued a $38.00 price objective on shares of Carriage Services in a report on Tuesday, May 28th. Roth Mkm reissued a “buy” rating and issued a $40.00 price target (up from $32.00) on shares of Carriage Services in a research note on Friday, August 2nd.

Carriage Services Company Profile

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.