Insider Buying: CBL & Associates Properties, Inc. (NYSE:CBL) Director Buys 1,000,000 Shares of Stock

CBL & Associates Properties, Inc. (NYSE:CBL) Director Michael L. Ashner acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average cost of $1.04 per share, for a total transaction of $1,040,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CBL stock traded down $0.01 during midday trading on Wednesday, hitting $1.01. The stock had a trading volume of 6,309,807 shares, compared to its average volume of 2,909,250. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 4.57. The firm has a market cap of $180.44 million, a P/E ratio of 0.58, a price-to-earnings-growth ratio of -0.36 and a beta of 1.61. The business has a fifty day moving average price of $1.47 and a two-hundred day moving average price of $1.15. CBL & Associates Properties, Inc. has a 1-year low of $0.77 and a 1-year high of $2.62.

CBL & Associates Properties (NYSE:CBL) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.19). CBL & Associates Properties had a negative return on equity of 14.39% and a negative net margin of 19.09%. The business had revenue of $187.25 million for the quarter, compared to analyst estimates of $191.77 million. On average, equities analysts anticipate that CBL & Associates Properties, Inc. will post 1.33 EPS for the current year.

A number of analysts have weighed in on CBL shares. ValuEngine raised shares of CBL & Associates Properties from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Zacks Investment Research upgraded shares of CBL & Associates Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. CBL & Associates Properties has an average rating of “Hold” and a consensus price target of $1.61.

Several large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in CBL & Associates Properties by 151.7% during the third quarter. Tower Research Capital LLC TRC now owns 26,636 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 16,052 shares during the period. Coldstream Capital Management Inc. bought a new position in shares of CBL & Associates Properties during the 3rd quarter worth approximately $35,000. Meeder Asset Management Inc. boosted its holdings in shares of CBL & Associates Properties by 1,195.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 41,193 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 38,013 shares in the last quarter. Trust Co. of Toledo NA OH boosted its holdings in shares of CBL & Associates Properties by 24.6% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 52,377 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 10,352 shares in the last quarter. Finally, Quinn Opportunity Partners LLC acquired a new stake in shares of CBL & Associates Properties during the 2nd quarter worth approximately $112,000. 66.69% of the stock is currently owned by institutional investors.

CBL & Associates Properties Company Profile

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's portfolio is comprised of 114 properties totaling 71.1 million square feet across 26 states, including 71 high-quality enclosed, outlet and open-air retail centers and 11 properties managed for third parties.

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