Magnetar Financial LLC Invests $308,000 in Carriage Services, Inc. (NYSE:CSV)

Magnetar Financial LLC acquired a new position in shares of Carriage Services, Inc. (NYSE:CSV) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,733 shares of the company’s stock, valued at approximately $308,000. Magnetar Financial LLC owned approximately 0.05% of Carriage Services as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CSV. FMR LLC boosted its position in shares of Carriage Services by 46.6% in the 3rd quarter. FMR LLC now owns 852 shares of the company’s stock valued at $28,000 after purchasing an additional 271 shares during the period. R Squared Ltd acquired a new stake in shares of Carriage Services in the 4th quarter valued at about $65,000. Point72 Asset Management L.P. boosted its position in shares of Carriage Services by 1,074.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,697 shares of the company’s stock valued at $154,000 after purchasing an additional 4,297 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Carriage Services in the 4th quarter valued at about $220,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Carriage Services in the 3rd quarter valued at about $204,000. 66.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSV has been the subject of a number of research analyst reports. StockNews.com cut Carriage Services from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Barrington Research reissued an “outperform” rating and issued a $50.00 target price on shares of Carriage Services in a research report on Friday, February 28th.

Carriage Services Stock Down 0.2 %

Carriage Services stock opened at $38.25 on Friday. Carriage Services, Inc. has a twelve month low of $23.20 and a twelve month high of $42.75. The stock has a 50 day moving average of $39.95 and a two-hundred day moving average of $37.59. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $598.68 million, a price-to-earnings ratio of 17.15, a PEG ratio of 0.97 and a beta of 0.91.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.11. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. The company had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $96.72 million. During the same period last year, the firm earned $0.77 EPS. As a group, research analysts expect that Carriage Services, Inc. will post 2.5 earnings per share for the current year.

Carriage Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd were paid a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Monday, February 3rd. Carriage Services’s dividend payout ratio (DPR) is 21.43%.

Carriage Services 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.