Prescott Group Upped its Stake in Comstock Holding Companies (CHCI)

Phil Frohlich‘s Prescott Group Capital Management, in a filing with Securities and Exchange Commission, revealed that it owns 2.03 million shares of Comstock Holding Companies Inc (NASDAQ:CHCI), which represent11.3% of Class A common stock. The fund previously held 1.94 million shares. Phil Frohlich bought 93,900 shares of the company, in two deals at an average price of $1.90 per share, at the end of last month.

Comstock Holding Companies Inc (NASDAQ:CHCI), a homebuilding and multi-faceted real estate development and services company, conducted a private placment offering following which it managed to raise a total of $1.55 million for Comstock Investors VIII. The funds will be used to support the building of a 45-unit condominium and a community of 42 townhomes.

Of the other hedge funds that we track Chuck Royce’s Royce & Associates, has lately reduced its position in Comstock Holding Companies Inc (NASDAQ:CHCI) to some 983,700 class A shares, from 1.08 million held earlier.

Another fund invested in Comstock Holding Companies Inc (NASDAQ:CHCI) is Renaissance Technologies, managed by Jim Simons, with a stake of 87,395 shares worth $158,000. Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s Grt Capital Partners has increased its holding in the company by 48% in the third quarter of 2013, and now holds 28,200 shares, worth $51,000.

Phil Frohlich’s Prescott Group Capital Management, focuses mainly on small and mid-cap stocks.  In November, the fund has  boosted its stake in Bluephoenix Solutions Ltd (NASDAQ:BPHX), to 3.3 million shares from some 2.7 million shares.

Prescott has also initiated a 10% stake in  PharmAthene, Inc. (NYSEMKT:PIP). Following the acquisition of the shares, the fund was severely opposing the merger between PharmAthene and Theraclone. The merger agreement between two companies was terminated at the beginning of December.

Disclosure: none

Recommended Reading:

 Wexford Capital Ups Stake in Cache, Inc. (CACH) to 5%

Hedge Fund News: John Paulson, Ray Dalio & Paul Singer

Google Inc (GOOG) and Wells Fargo & Co (WFC) Among Horseman Capital Management’s Top Picks