Millennium Management LLC reduced its stake in shares of St. Joe Co (NYSE:JOE) by 46.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 246,609 shares of the financial services provider’s stock after selling 211,420 shares during the period. Millennium Management LLC’s holdings in St. Joe were worth $4,427,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Verition Fund Management LLC purchased a new stake in shares of St. Joe in the 1st quarter worth about $226,000. Xact Kapitalforvaltning AB boosted its position in shares of St. Joe by 52.1% in the 1st quarter. Xact Kapitalforvaltning AB now owns 15,474 shares of the financial services provider’s stock worth $292,000 after buying an additional 5,300 shares in the last quarter. KBC Group NV purchased a new stake in shares of St. Joe in the 2nd quarter worth about $338,000. LMR Partners LLP purchased a new stake in shares of St. Joe in the 2nd quarter worth about $344,000. Finally, Jane Street Group LLC purchased a new stake in shares of St. Joe in the 1st quarter worth about $449,000. Institutional investors own 95.17% of the company’s stock.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of St. Joe from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. TheStreet lowered shares of St. Joe from a “b-” rating to a “c+” rating in a research report on Monday, September 10th.
St. Joe (NYSE:JOE) last released its earnings results on Wednesday, August 1st. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05. The company had revenue of $50.40 million for the quarter, compared to analyst estimates of $26.80 million. St. Joe had a net margin of 56.86% and a return on equity of 1.66%. As a group, equities research analysts predict that St. Joe Co will post 0.09 earnings per share for the current year.
About St. Joe
The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Florida, the United States. It operates through four segments: Residential Real Estate, Resorts and Leisure, Commercial Leasing and Sales, and Forestry. The Residential Real Estate segment plans and develops residential communities of various sizes.
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