SG Americas Securities LLC Acquires 12,850 Shares of St. Joe Co (JOE)
SG Americas Securities LLC grew its holdings in shares of St. Joe Co (NYSE:JOE) by 212.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 18,910 shares of the financial services provider’s stock after purchasing an additional 12,850 shares during the period. SG Americas Securities LLC’s holdings in St. Joe were worth $356,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Fairholme Capital Management LLC raised its holdings in St. Joe by 4.4% in the 2nd quarter. Fairholme Capital Management LLC now owns 25,484,557 shares of the financial services provider’s stock worth $477,835,000 after acquiring an additional 1,083,400 shares during the last quarter. Janus Henderson Group PLC purchased a new position in St. Joe in the 2nd quarter worth approximately $184,654,000. Brandes Investment Partners LP raised its holdings in St. Joe by 9.4% in the 2nd quarter. Brandes Investment Partners LP now owns 2,034,434 shares of the financial services provider’s stock worth $38,153,000 after acquiring an additional 175,221 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in St. Joe by 10.9% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,229,844 shares of the financial services provider’s stock worth $23,183,000 after acquiring an additional 120,627 shares during the last quarter. Finally, State Street Corp raised its holdings in St. Joe by 5.8% in the 2nd quarter. State Street Corp now owns 1,063,097 shares of the financial services provider’s stock worth $19,937,000 after acquiring an additional 57,881 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.
In related news, Director Howard S. Frank bought 20,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was acquired at an average price of $18.98 per share, with a total value of $379,600.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $379,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fairholme Capital Management L bought 57,100 shares of the business’s stock in a transaction on Monday, November 27th. The stock was bought at an average cost of $19.00 per share, with a total value of $1,084,900.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 994,150 shares of company stock valued at $18,380,258. 33.83% of the stock is currently owned by insiders.
St. Joe Co (NYSE:JOE) traded up $0.15 during trading hours on Friday, reaching $18.50. 846,855 shares of the company’s stock were exchanged, compared to its average volume of 320,692. St. Joe Co has a fifty-two week low of $16.30 and a fifty-two week high of $21.05. The company has a market cap of $1,216.99, a P/E ratio of 55.61 and a beta of 0.91.
St. Joe (NYSE:JOE) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. St. Joe had a net margin of 24.82% and a return on equity of 3.71%. The business had revenue of $33.60 million during the quarter, compared to the consensus estimate of $25.80 million.
St. Joe announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 21st that allows the company to buyback $66.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 5.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Separately, Zacks Investment Research lowered shares of St. Joe from a “strong-buy” rating to a “hold” rating in a report on Monday, October 16th.
St. Joe Profile
The St. Joe Company is a real estate development, asset management and operating company. The Company operates through five segments: residential real estate; commercial real estate; resorts and leisure; leasing operations, and forestry. Its residential real estate segment plans and develops primary residential and resort residential communities of various sizes on its existing land.
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