Phil Frohlich‘s Prescott Group Capital Management has disclosed, in a new filing with the Securities and Exchange Commission, owning around 1.9 million shares of Comstock Holding Companies Inc (NASDAQ:CHCI). The securities are held indirectly by the fund. In its latest 13F, Prescott revealed ownership of approximately 1.8 million shares of the company.
Comstock Holding Companies, Inc (NASDAQ:CHCI), the real estate development and services company, offers three categories of services and products, which include Homebuilding, Apartment Buildings and Real Estate Services. In December, through private placement offerings it earned $1.55 million and is planning to continue the offering until it achieves $4 million target. The funds raised through the offering, will be used in building the Maxwell Square Condominium in Frederic, Md. and community townhomes in Hall Crest, Sterling, VA as well as for corporate purposes.
Hedge Funds with an interest in real estate sector find Comstock Holding Companies Inc (NASDAQ:CHCI) attractive and the following funds have positions, in addition to Prescott Group Capital Management. Chuck Royce’s Royce and Associates owns, so far, the second largest position, with 1.08 million shares, valued at $1.96 million. Some other hedge funds hold less significant stakes in the company.
Prescott Group Capital Management has grown rapidly and holds position in Technology sector, Services and Healthcare sector, besides minor holdings in Industrial goods, Basic Materials, utilities and consumer Goods.