St. Joe Company (The) (JOE) is Fairholme Capital Management LLC’s Largest Position
Fairholme Capital Management LLC lifted its position in shares of St. Joe Company (The) (NYSE:JOE) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,002,485 shares of the financial services provider’s stock after acquiring an additional 1,517,928 shares during the quarter. St. Joe makes up 56.1% of Fairholme Capital Management LLC’s investment portfolio, making the stock its largest position. Fairholme Capital Management LLC owned approximately 40.72% of St. Joe worth $508,997,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Diversified Investment Strategies LLC bought a new position in shares of St. Joe during the 3rd quarter worth $2,622,000. Dimensional Fund Advisors LP lifted its holdings in St. Joe by 21.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,131,376 shares of the financial services provider’s stock worth $21,328,000 after purchasing an additional 197,196 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in St. Joe by 56.8% during the 3rd quarter. Wells Fargo & Company MN now owns 151,688 shares of the financial services provider’s stock worth $2,860,000 after purchasing an additional 54,962 shares in the last quarter. Citadel Advisors LLC purchased a new stake in St. Joe during the 3rd quarter worth about $1,058,000. Finally, Trexquant Investment LP purchased a new stake in St. Joe during the 3rd quarter worth about $315,000. Institutional investors own 92.69% of the company’s stock.
In related news, Director Fairholme Capital Management L acquired 16,500 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were acquired at an average price of $18.65 per share, with a total value of $307,725.00. Following the acquisition, the director now owns 23,230,687 shares of the company’s stock, valued at approximately $433,252,312.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 972,850 shares of company stock worth $17,976,478 in the last three months. 33.83% of the stock is currently owned by insiders.
Shares of St. Joe Company (NYSE:JOE) remained flat at $$18.50 on Monday. The stock had a trading volume of 218,700 shares, compared to its average volume of 266,167. The firm has a market cap of $1,230.00, a PE ratio of 56.06 and a beta of 0.91. St. Joe Company has a one year low of $16.30 and a one year high of $21.75.
St. Joe (NYSE:JOE) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The business had revenue of $33.60 million for the quarter, compared to analysts’ expectations of $25.80 million. St. Joe had a return on equity of 3.71% and a net margin of 24.82%. research analysts forecast that St. Joe Company will post 0.25 earnings per share for the current fiscal year.
St. Joe announced that its board has authorized a stock repurchase plan on Thursday, September 21st that allows the company to repurchase $66.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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St. Joe Company 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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