Carriage Services, Inc. (NYSE:CSV) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 377,400 shares, a decline of 7.1% from the January 15th total of 406,100 shares. Based on an average daily volume of 100,700 shares, the days-to-cover ratio is currently 3.7 days. Currently, 2.3% of the company’s stock are sold short.
In related news, COO William Goetz bought 10,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $27.48 per share, with a total value of $274,800.00. Following the purchase, the chief operating officer now directly owns 10,000 shares of the company’s stock, valued at approximately $274,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can acquired a new position in shares of Carriage Services during the 4th quarter worth about $31,000. SG Americas Securities LLC acquired a new position in shares of Carriage Services during the 4th quarter worth about $101,000. Bank of Montreal Can boosted its position in shares of Carriage Services by 17.6% during the 4th quarter. Bank of Montreal Can now owns 4,166 shares of the company’s stock worth $107,000 after acquiring an additional 623 shares in the last quarter. Baker Ellis Asset Management LLC acquired a new position in shares of Carriage Services during the 4th quarter worth about $118,000. Finally, Strs Ohio acquired a new position in shares of Carriage Services during the 3rd quarter worth about $118,000. 76.34% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on CSV. Sidoti boosted their target price on Carriage Services from $29.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. ValuEngine cut Carriage Services from a “hold” rating to a “sell” rating in a research note on Saturday, December 21st. Barrington Research boosted their target price on Carriage Services from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Zacks Investment Research cut Carriage Services from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th.
Shares of NYSE:CSV traded down $0.20 on Friday, hitting $24.55. 63,738 shares of the company’s stock were exchanged, compared to its average volume of 67,276. The firm’s 50-day moving average is $24.91 and its 200 day moving average is $23.56. The company has a market capitalization of $437.24 million, a PE ratio of 47.21, a P/E/G ratio of 1.00 and a beta of 0.72. Carriage Services has a 1-year low of $16.58 and a 1-year high of $28.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.65 and a current ratio of 0.82.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 10th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.30 annualized dividend and a dividend yield of 1.22%. Carriage Services’s dividend payout ratio is currently 25.64%.
Carriage Services Company Profile
Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.
