Carriage Services (NYSE:CSV) Shares Pass Above 50 Day Moving Average of $30.04

Carriage Services, Inc. (NYSE:CSV)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $30.04 and traded as high as $33.09. Carriage Services shares last traded at $33.02, with a volume of 92,675 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on CSV. Roth Mkm reaffirmed a “buy” rating and set a $40.00 price objective (up from $32.00) on shares of Carriage Services in a research note on Friday, August 2nd. Barrington Research reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Carriage Services in a research note on Tuesday, May 28th.

Carriage Services Stock Performance

The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.69 and a current ratio of 0.85. The firm has a 50 day moving average of $30.27 and a 200-day moving average of $27.56. The stock has a market capitalization of $490.66 million, a PE ratio of 15.94, a P/E/G ratio of 0.94 and a beta of 0.92.

Carriage Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 5th were issued a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Monday, August 5th. Carriage Services’s dividend payout ratio is currently 22.17%.

Insider Buying and Selling at Carriage Services

In other Carriage Services news, VP Shawn R. Phillips sold 5,000 shares of Carriage Services stock in a transaction on Friday, August 9th. The shares were sold at an average price of $29.73, for a total transaction of $148,650.00. Following the completion of the sale, the vice president now owns 97,801 shares of the company’s stock, valued at approximately $2,907,623.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Carlos R. Quezada purchased 2,000 shares of Carriage Services stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $29.44 per share, with a total value of $58,880.00. Following the completion of the transaction, the chief executive officer now directly owns 60,061 shares of the company’s stock, valued at $1,768,195.84. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Shawn R. Phillips sold 5,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $29.73, for a total value of $148,650.00. Following the sale, the vice president now owns 97,801 shares of the company’s stock, valued at approximately $2,907,623.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,826 shares of company stock worth $497,269. 12.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carriage Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSV. Assenagon Asset Management S.A. increased its stake in shares of Carriage Services by 201.5% in the second quarter. Assenagon Asset Management S.A. now owns 229,718 shares of the company’s stock worth $6,166,000 after purchasing an additional 153,538 shares during the period. Mendel Money Management lifted its holdings in shares of Carriage Services by 187.5% during the first quarter. Mendel Money Management now owns 60,034 shares of the company’s stock worth $1,623,000 after buying an additional 128,648 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Carriage Services by 741.8% during the first quarter. BNP Paribas Financial Markets now owns 87,879 shares of the company’s stock worth $2,376,000 after buying an additional 77,439 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Carriage Services in the first quarter valued at approximately $1,517,000. Finally, Harbert Fund Advisors Inc. grew its stake in shares of Carriage Services by 31.5% in the fourth quarter. Harbert Fund Advisors Inc. now owns 208,497 shares of the company’s stock worth $5,215,000 after acquiring an additional 50,000 shares during the last quarter. 66.46% of the stock is currently owned by institutional investors and hedge funds.

Carriage Services Company Profile

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.