The St. Joe Company (NYSE:JOE) Short Interest Down 8.1% in October

by · The Cerbat Gem

The St. Joe Company (NYSE:JOE – Get Free Report) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 571,600 shares, a drop of 8.1% from the September 30th total of 621,700 shares. Based on an average daily trading volume, of 163,800 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.0% of the company’s stock are sold short.

Insider Activity

In other news, CEO Jorge Luis Gonzalez acquired 1,695 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were bought at an average price of $53.05 per share, for a total transaction of $89,919.75. Following the completion of the purchase, the chief executive officer now directly owns 60,093 shares of the company’s stock, valued at approximately $3,187,933.65. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other St. Joe news, CEO Jorge Luis Gonzalez bought 1,695 shares of the stock in a transaction dated Friday, October 25th. The stock was bought at an average cost of $53.05 per share, for a total transaction of $89,919.75. Following the completion of the purchase, the chief executive officer now directly owns 60,093 shares of the company’s stock, valued at approximately $3,187,933.65. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Berkowitz sold 97,200 shares of St. Joe 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 directly owns 17,878,924 shares in the company, valued at approximately $1,078,814,274.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 242,300 shares of company stock worth $13,967,667. 38.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On St. Joe

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in St. Joe by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,765,278 shares of the financial services provider’s stock valued at $334,213,000 after buying an additional 59,563 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of St. Joe by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,525,941 shares of the financial services provider’s stock worth $83,467,000 after acquiring an additional 5,144 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of St. Joe by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 351,319 shares of the financial services provider’s stock valued at $19,217,000 after acquiring an additional 11,113 shares during the last quarter. Algert Global LLC raised its position in shares of St. Joe by 9.4% during the 2nd quarter. Algert Global LLC now owns 134,851 shares of the financial services provider’s stock valued at $7,376,000 after acquiring an additional 11,592 shares in the last quarter. Finally, Old West Investment Management LLC lifted its stake in St. Joe by 68.6% during the third quarter. Old West Investment Management LLC now owns 127,374 shares of the financial services provider’s stock worth $7,427,000 after purchasing an additional 51,830 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

St. Joe Stock Down 0.7 %

Shares of St. Joe stock traded down $0.39 on Thursday, hitting $51.69. 183,134 shares of the company’s stock traded hands, compared to its average volume of 177,218. St. Joe has a 52-week low of $45.99 and a 52-week 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 stock has a market cap of $3.02 billion, a P/E ratio of 43.81 and a beta of 1.26. The firm’s 50-day moving average is $58.06 and its 200 day moving average is $57.37.

St. Joe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, November 7th. St. Joe’s dividend payout ratio is currently 47.46%.

St. Joe Company Profile

(Get Free Report)

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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