Insider Buying: Aaron Scott Halfacre Purchases 100,000 Shares of Campus Crest Communities Stock (CCG)
Campus Crest Communities (NYSE:CCG) EVP Aaron Scott Halfacre purchased 100,000 shares of the stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $8.13 per share, for a total transaction of $813,000.00. Following the acquisition, the executive vice president now directly owns 100,000 shares in the company, valued at approximately $813,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
CCG has been the subject of a number of recent research reports. Analysts at Wunderlich downgraded shares of Campus Crest Communities from a “buy” rating to a “hold” rating in a research note on Thursday. They now have a $9.00 price target on the stock, down previously from $10.00. Separately, analysts at Barclays raised their price target on shares of Campus Crest Communities from $10.00 to $11.00 in a research note on Monday, July 21st. They now have an “equal weight” rating on the stock. Finally, analysts at Bank of America downgraded shares of Campus Crest Communities from a “neutral” rating to an “underperform” rating in a research note on Friday, June 13th. They now have a $8.00 price target on the stock, down previously from $9.00. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $9.80.
Shares of Campus Crest Communities (NYSE:CCG) traded down 7.73% during mid-day trading on Thursday, hitting $8.00. 2,410,445 shares of the company’s stock traded hands. Campus Crest Communities has a one year low of $7.88 and a one year high of $11.50. The stock’s 50-day moving average is $8.75 and its 200-day moving average is $8.78. The company’s market cap is $517.7 million.
Campus Crest Communities (NYSE:CCG) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.03. The company had revenue of $35.25 million for the quarter, compared to the consensus estimate of $24.26 million. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts predict that Campus Crest Communities will post $0.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 8th. Stockholders of record on Wednesday, September 24th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 8.25%. The ex-dividend date is Monday, September 22nd.
Campus Crest Communities, Inc is a self-managed, self-administered and vertically-integrated developer, builder, owner and manager of purpose-built student housing properties in the United States.
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