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.