Citigroup Inc. Lowers Stake in Carriage Services, Inc. (CSV)
Citigroup Inc. decreased its stake in shares of Carriage Services, Inc. (NYSE:CSV) by 99.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,995 shares of the company’s stock after selling 1,697,563 shares during the period. Citigroup Inc. owned approximately 0.07% of Carriage Services worth $324,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Carriage Services by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,398,573 shares of the company’s stock worth $37,929,000 after acquiring an additional 5,479 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Carriage Services by 14.3% during the first quarter. Renaissance Technologies LLC now owns 857,600 shares of the company’s stock worth $23,258,000 after acquiring an additional 107,487 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Carriage Services by 6.7% during the first quarter. Vanguard Group Inc. now owns 605,013 shares of the company’s stock worth $16,407,000 after acquiring an additional 38,056 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Carriage Services by 21.7% during the first quarter. Westwood Holdings Group Inc. now owns 294,493 shares of the company’s stock worth $7,987,000 after acquiring an additional 52,452 shares in the last quarter. Finally, Fenimore Asset Management Inc. bought a new stake in shares of Carriage Services during the second quarter worth $6,856,000. 86.58% of the stock is owned by institutional investors.
In related news, CEO Melvin C. Payne sold 100,000 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $23.85, for a total transaction of $2,385,000.00. Following the transaction, the chief executive officer now owns 1,131,753 shares in the company, valued at approximately $26,992,309.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.40% of the stock is owned by insiders.
Several equities research analysts have recently issued reports on CSV shares. Zacks Investment Research raised shares of Carriage Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub downgraded shares of Carriage Services from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
Shares of Carriage Services, Inc. (NYSE CSV) opened at 25.00 on Wednesday. Carriage Services, Inc. has a 12 month low of $23.15 and a 12 month high of $29.11. The company has a market cap of $418.00 million, a P/E ratio of 21.17 and a beta of 0.89. The stock’s 50 day moving average is $24.79 and its 200 day moving average is $25.93.
Carriage Services (NYSE:CSV) last released its earnings results on Wednesday, July 26th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.10). Carriage Services had a net margin of 8.35% and a return on equity of 15.25%. The company had revenue of $63.87 million for the quarter, compared to analyst estimates of $64.35 million. During the same quarter in the previous year, the firm earned $0.37 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. On average, analysts anticipate that Carriage Services, Inc. will post $1.62 EPS for the current fiscal year.
About Carriage Services
Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.
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