Featured Company News PICO Holdings Sells Stake in Century Comm - Erie News Now | WICU & WSEE in Erie, PA

Featured Company News PICO Holdings Sells Stake in Century Communities

Posted: Updated:

LONDON, UK / ACCESSWIRE / October 6, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for PICO Holdings, Inc. (NASDAQ: PICO) (“PICO”), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=PICO. The Company announced on October 04, 2017, the sale of its entire stake of Century Communities, Inc. (NYSE: CCS) (“Century”) of 2.4 million shares valued at approximately $59.2 million. This was reportedly 9% of the stake of Century’s outstanding common stock. For immediate access to our complimentary reports, including today’s coverage, register for free now at:


At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on PICO. Go directly to your stock of interest and access today’s free coverage at:


The remaining material investment of PICO, besides the cash and liquid marketable securities, is the wholly-owned subsidiary, Vidler Water Co., which is a water resource and water storage business with assets and operations primarily in the Southwestern US. It also holds assets in Nevada, Arizona, New Mexico, and Colorado.

These shares were part of the previously announced merger of the 57% owned subsidiary, UCP, Inc. (NYSE: UCP) with Century, which closed on August 04, 2017. UCP is a homebuilder and land developer with land acquisition and entitlement expertise in California, Washington State, North Carolina, South Carolina, and Tennessee.

PICO is on a cost reduction spree with John Perri, the Company’s Chief Financial Officer (CFO), and Max Webb, Chief Executive Officer (CEO) of the Company, having voluntarily reduced their annual salary base by 15. The Company reported significant net operating losses of approximately $162.3 million in Q2 2017.

PICO is keen on providing the adequate working capital required for its remaining operations, with a capital allocation policy to return capital to shareholders. The Board is in the process of determining the optimal time and methodology of returning capital to its shareholders but wants to ensure that the Company’s business plan does not contemplate redeploying capital into the operations. PICO’s focus is on the monetization of their key assets of which this sale was a part of.

About PICO Holdings, Inc.

PICO is a diversified holding Company in water resource and water storage operations, as well as real estate operations. It also has a Corporate segment where assets such as cash, assets, and related liabilities of deferred compensation plans, and various interests in small businesses are managed. The Company recently announced that PICO’s Board of Directors had engaged JMP Securities LLC as its exclusive financial advisor, and Cooley LLP as its legal counsel to explore strategic alternatives to further enhance shareholder value. The intention of the engagement is to evaluate potential alternatives such as the sale of the Company, a merger, a business combination, or a sale, license, or disposition of the assets of the Company.

Last Close Stock Review

On Thursday, October 05, 2017, the stock closed the trading session at $18.60, advancing 1.36% from its previous closing price of $18.35. A total volume of 147.11 thousand shares have exchanged hands, which was higher than the 3-month average volume of 102.57 thousand shares. PICO Holdings’ stock price skyrocketed 8.14% in the last three months, 38.29% in the past six months, and 64.89% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 22.77%. At Thursday’s closing price, the stock’s net capitalization stands at $434.31 million.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.


The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.


PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.


This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.


For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 477231

Information contained on this page is provided by an independent third-party content provider. Frankly and this Station make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact pressreleases@franklyinc.com

Powered by Frankly
3514 State St. Erie, PA 16508
Newsroom: (814) 454-8812
Business offices: (814) 454-5201
Share Stories
Submit your stories to our site!
Share Photos
Share your photos in our community galleries
RSS Feeds
All content © Copyright 2000 - 2017 WICU. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.
                   WICU/WSEE - 3514 State Street Erie, PA 16508 - (814) 454-5201 - info@wicu12.com