Century Communities, Inc. (NYSE:CCS) Sees Large Decline in Short Interest

Century Communities, Inc. (NYSE:CCS) was the recipient of a large decline in short interest in February. As of February 27th, there was short interest totaling 1,609,577 shares, a decline of 12.5% from the February 12th total of 1,838,770 shares. Currently, 6.3% of the company’s stock are sold short. Based on an average daily volume of 217,416 shares, the short-interest ratio is currently 7.4 days. Based on an average daily volume of 217,416 shares, the short-interest ratio is currently 7.4 days. Currently, 6.3% of the company’s stock are sold short.

Century Communities Stock Performance

Shares of CCS stock traded down $1.29 during midday trading on Wednesday, hitting $57.16. 61,165 shares of the company were exchanged, compared to its average volume of 275,614. The firm has a market capitalization of $1.66 billion, a P/E ratio of 11.80 and a beta of 1.54. The firm’s 50 day moving average price is $66.45 and its two-hundred day moving average price is $63.60. Century Communities has a 52 week low of $50.42 and a 52 week high of $76.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.08 and a current ratio of 1.08.

Century Communities (NYSE:CCS) last issued its quarterly earnings results on Wednesday, January 28th. The construction company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.20. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.54 EPS. As a group, equities research analysts anticipate that Century Communities will post 11.07 earnings per share for the current year.

Century Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Century Communities’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 2.2%. Century Communities’s payout ratio is presently 26.34%.

Insiders Place Their Bets

In other Century Communities news, Chairman Dale Francescon sold 100,100 shares of Century Communities stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $72.44, for a total transaction of $7,251,244.00. Following the completion of the transaction, the chairman owned 561,662 shares of the company’s stock, valued at $40,686,795.28. The trade was a 15.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Century Communities

Several institutional investors have recently made changes to their positions in CCS. New South Capital Management Inc. raised its stake in Century Communities by 285.1% during the fourth quarter. New South Capital Management Inc. now owns 609,425 shares of the construction company’s stock worth $36,169,000 after purchasing an additional 451,187 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of Century Communities by 26.6% during the 2nd 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 in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Century Communities by 32.2% in the second quarter. Balyasny Asset Management L.P. now owns 1,044,604 shares of the construction company’s stock worth $58,832,000 after acquiring an additional 254,186 shares during the last quarter. Voss Capital LP raised its holdings in shares of Century Communities by 280.0% during the 2nd quarter. Voss Capital LP now owns 285,000 shares of the construction company’s stock valued at $16,051,000 after buying an additional 210,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Century Communities by 58.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 509,499 shares of the construction company’s stock valued at $30,239,000 after buying an additional 186,938 shares during the last quarter. 99.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCS has been the topic of a number of research reports. Zacks Research downgraded Century Communities from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Century Communities in a research report on Wednesday, January 21st. B. Riley Financial reaffirmed a “buy” rating on shares of Century Communities in a research report on Thursday, January 29th. JPMorgan Chase & Co. cut their target price on Century Communities from $56.00 to $49.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. Finally, Citigroup initiated coverage on shares of Century Communities in a research report on Wednesday, January 21st. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $74.75.

Century Communities Company Profile

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.