Covalent Partners buys $28,120,066 stake in CalAtlantic Group Inc (CAA)

CalAtlantic Group Inc (CAA) : Covalent Partners scooped up 1,059 additional shares in CalAtlantic Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 876,834 shares of CalAtlantic Group Inc which is valued at $28,120,066.CalAtlantic Group Inc makes up approximately 11.93% of Covalent Partners’s portfolio.

Other Hedge Funds, Including , Laurion Capital Management Lp sold out all of its stake in CAA during the most recent quarter. The investment firm sold 122,900 shares of CAA which is valued $3,851,686.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys reduced its stake in CAA by selling 3,320 shares or 23.13% in the most recent quarter. The Hedge Fund company now holds 11,033 shares of CAA which is valued at $343,347. CalAtlantic Group Inc makes up approx 0.01% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio. Dupont Capital Management Corp sold out all of its stake in CAA during the most recent quarter. The investment firm sold 19,716 shares of CAA which is valued $621,054.Gw&k Investment Management boosted its stake in CAA in the latest quarter, The investment management firm added 34,138 additional shares and now holds a total of 1,181,750 shares of CalAtlantic Group Inc which is valued at $38,005,080. CalAtlantic Group Inc makes up approx 0.73% of Gw&k Investment Management’s portfolio.

On the company’s financial health, CalAtlantic Group Inc reported $0.97 EPS for the quarter, missing the analyst consensus estimate by $ -0.20 based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus of $1.17. The company had revenue of $1665.03 million for the quarter, compared to analysts expectations of $1964.24 million. The company’s revenue was up 166.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS.

Investors should note that on Oct 27, 2016, CalAtlantic Group Inc announced a cash dividend of $0.0400. The company’s management has announced Dec 13, 2016 as the ex-dividend date and fixed the record date on Dec 15, 2016. The payable date has been fixed on Dec 30, 2016.

Many Wall Street Analysts have commented on CalAtlantic Group Inc. CalAtlantic Group Inc was Initiated by Wells Fargo to “Market Perform” on Sep 29, 2016. Wedbush Initiated CalAtlantic Group Inc on Sep 20, 2016 to “Outperform”, Price Target of the shares are set at $44.

Calatlantic Group Inc. formerly Standard Pacific Corp. is a builder of single-family attached and detached homes. The Company operates in two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land and construct and sell single-family attached and detached homes. The homebuilding operating segments are grouped into three segments: California; Southwest consisting of its operating divisions in Arizona Texas Colorado and Nevada; and Southeast consisting of its operating divisions in Florida and the Carolinas. The Company’s Financial Services segment includes mortgage financing operation which provides mortgage financing to its homebuyers. The Company’s title services operation provides title examinations for its homebuyers in Texas and Florida.

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