The St. Joe Company (NYSE:JOE - Get Free Report) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 667,300 shares, an increase of 16.7% from the October 15th total of 571,600 shares. Based on an average trading volume of 187,800 shares, the days-to-cover ratio is presently 3.6 days. Approximately 1.2% of the shares of the stock are short sold.
Insiders Place Their Bets
In related news, CEO Jorge Luis Gonzalez purchased 1,695 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average price of $53.05 per share, for a total transaction of $89,919.75. Following the transaction, the chief executive officer now directly owns 60,093 shares of the company's stock, valued at $3,187,933.65. This trade represents a 2.90 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Berkowitz sold 97,200 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $60.34, for a total value of $5,865,048.00. Following the sale, the director now owns 17,878,924 shares in the company, valued at approximately $1,078,814,274.16. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 600,700 shares of company stock worth $33,085,747. 38.80% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On St. Joe
A number of large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in shares of St. Joe by 263.6% in the first quarter. EverSource Wealth Advisors LLC now owns 589 shares of the financial services provider's stock worth $34,000 after acquiring an additional 427 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in St. Joe in the third quarter valued at about $35,000. Quest Partners LLC increased its position in St. Joe by 72,300.0% in the 2nd quarter. Quest Partners LLC now owns 724 shares of the financial services provider's stock worth $40,000 after purchasing an additional 723 shares during the last quarter. Blue Trust Inc. raised its stake in shares of St. Joe by 549.1% during the 3rd quarter. Blue Trust Inc. now owns 727 shares of the financial services provider's stock worth $40,000 after purchasing an additional 615 shares in the last quarter. Finally, nVerses Capital LLC lifted its holdings in shares of St. Joe by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 800 shares of the financial services provider's stock valued at $44,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company's stock.
St. Joe Stock Down 0.2 %
Shares of St. Joe stock traded down $0.11 during midday trading on Friday, hitting $49.96. The company's stock had a trading volume of 317,873 shares, compared to its average volume of 183,806. St. Joe has a 1-year low of $49.36 and a 1-year high of $64.69. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $2.92 billion, a P/E ratio of 42.34 and a beta of 1.27. The stock has a 50-day simple moving average of $56.38 and a 200-day simple moving average of $56.96.
St. Joe Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.56 annualized dividend and a yield of 1.12%. St. Joe's dividend payout ratio (DPR) is presently 47.46%.
About St. Joe
(
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The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.
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