St. Joe Co (JOE) Director Purchases $379,600.00 in Stock

St. Joe Co (NYSE:JOE) Director Howard S. Frank purchased 20,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was acquired at an average price of $18.98 per share, with a total value of $379,600.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $379,600. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

St. Joe Co (NYSE:JOE) opened at $18.50 on Friday. St. Joe Co has a 52 week low of $16.30 and a 52 week high of $21.05. The firm has a market capitalization of $1,223.62, a P/E ratio of 55.91 and a beta of 0.91.

St. Joe (NYSE:JOE) last posted its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. St. Joe had a return on equity of 3.71% and a net margin of 24.82%. The business had revenue of $33.60 million during the quarter, compared to the consensus estimate of $25.80 million.

St. Joe declared that its board has authorized a stock buyback program on Thursday, September 21st that allows the company to repurchase $66.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Separately, Zacks Investment Research downgraded St. Joe from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th.

A number of hedge funds have recently bought and sold shares of JOE. BNP Paribas Arbitrage SA boosted its stake in St. Joe by 207.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,987 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 4,039 shares during the period. SG Americas Securities LLC bought a new position in shares of St. Joe during the 2nd quarter valued at approximately $114,000. QS Investors LLC bought a new position in shares of St. Joe during the 2nd quarter valued at approximately $146,000. Stelac Advisory Services LLC bought a new position in shares of St. Joe during the 3rd quarter valued at approximately $158,000. Finally, Wolverine Trading LLC bought a new position in shares of St. Joe during the 2nd quarter valued at approximately $189,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for St. Joe (NYSE:JOE)

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