BlackRock Trims Stake in Carriage Services to 7.9%
Ticker: CSV · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 1016281
| Field | Detail |
|---|---|
| Company | Carriage Services Inc (CSV) |
| Form Type | SC 13G/A |
| Filed Date | Jan 26, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, 13G/A, stake-change
TL;DR
**BlackRock cut its stake in Carriage Services to 7.9% as of year-end 2023.**
AI Summary
BlackRock Inc. has filed an Amendment No. 8 to its SC 13G filing, indicating a change in its ownership stake in Carriage Services Inc. as of December 31, 2023. This update shows BlackRock's current holdings of 1,304,708 shares of Common Stock, representing 7.9% of the company's outstanding shares. This matters to investors because BlackRock, a major institutional investor, has slightly reduced its stake from the previously reported 8.1% (1,337,429 shares), signaling a minor shift in its investment conviction for Carriage Services Inc.
Why It Matters
A slight reduction in BlackRock's stake could suggest a minor decrease in their confidence in Carriage Services Inc., potentially influencing other investors' perceptions of the stock.
Risk Assessment
Risk Level: low — The change in ownership is minor, indicating no significant immediate threat or opportunity for the stock.
Analyst Insight
Investors should note BlackRock's minor reduction in stake, but recognize that institutional ownership changes of this magnitude are common and don't necessarily signal a strong buy or sell signal for Carriage Services Inc. It's prudent to consider this alongside other fundamental analysis.
Key Numbers
- 1,304,708 — Shares Beneficially Owned (BlackRock's total shares in Carriage Services Inc. as of December 31, 2023.)
- 7.9% — Percentage of Class (BlackRock's ownership percentage of Carriage Services Inc. Common Stock.)
- 8 — Amendment Number (This is the 8th amendment to BlackRock's Schedule 13G filing for Carriage Services Inc.)
Key Players & Entities
- BlackRock Inc. (company) — reporting person and institutional investor
- Carriage Services Inc. (company) — subject company whose shares are being reported
- 1,304,708 shares (dollar_amount) — BlackRock's current beneficial ownership
- 7.9% (dollar_amount) — percentage of class owned by BlackRock
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- BlackRock will continue to hold a significant, but potentially fluctuating, stake in Carriage Services Inc. as part of its broad index and active investment strategies. (BlackRock Inc.) — high confidence, target: December 31, 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing (Amendment No. 8) is filed by BlackRock, Inc. to update its beneficial ownership of Common Stock in Carriage Services Inc. as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., a major institutional investment manager based at 50 Hudson Yards, New York, NY.
What is BlackRock's current beneficial ownership percentage in Carriage Services Inc.?
As of December 31, 2023, BlackRock, Inc. beneficially owns 1,304,708 shares of Common Stock, which represents 7.9% of the class of securities of Carriage Services Inc.
What was the previous ownership percentage reported by BlackRock for Carriage Services Inc.?
While not explicitly stated in this filing, a previous SC 13G/A (Amendment No. 7) would have shown BlackRock's ownership at 8.1% (1,337,429 shares), indicating a slight reduction to the current 7.9%.
What is the CUSIP number for Carriage Services Inc. Common Stock?
The CUSIP number for Carriage Services Inc. Common Stock is 143905107, as stated on the cover page of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding CARRIAGE SERVICES INC (CSV).