Short Interest in KB Home (NYSE:KBH) Rises By 11.1%

KB Home (NYSE:KBH) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,290,000 shares, an increase of 11.1% from the December 15th total of 2,960,000 shares. Based on an average trading volume of 1,610,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 3.8% of the company’s shares are short sold.

In related news, CAO William R. Hollinger sold 60,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $36.15, for a total value of $2,169,000.00. Following the completion of the sale, the chief accounting officer now owns 220,027 shares in the company, valued at $7,953,976.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey T. Mezger sold 3,100 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $36.00, for a total value of $111,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,061,326 shares in the company, valued at approximately $38,207,736. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 284,743 shares of company stock worth $10,311,459. Insiders own 7.32% of the company’s stock.

Several large investors have recently modified their holdings of KBH. Russell Investments Group Ltd. raised its position in KB Home by 139.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 35,593 shares of the construction company’s stock valued at $916,000 after buying an additional 20,700 shares during the last quarter. Northern Trust Corp lifted its stake in KB Home by 10.8% in the 2nd quarter. Northern Trust Corp now owns 1,759,883 shares of the construction company’s stock valued at $45,282,000 after acquiring an additional 171,242 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in KB Home by 7,133.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,391 shares of the construction company’s stock valued at $216,000 after acquiring an additional 8,275 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in KB Home in the 2nd quarter valued at approximately $433,000. Finally, Vanguard Group Inc. lifted its stake in KB Home by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 8,244,962 shares of the construction company’s stock valued at $212,142,000 after acquiring an additional 169,523 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

NYSE KBH traded down $0.53 during trading hours on Thursday, reaching $36.32. 32,636 shares of the company’s stock were exchanged, compared to its average volume of 1,721,443. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 1.68. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 0.92 and a beta of 1.24. The company’s 50-day moving average is $34.70 and its two-hundred day moving average is $31.51. KB Home has a one year low of $19.25 and a one year high of $37.59.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Thursday, January 9th. The construction company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.02. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.60 billion. KB Home had a net margin of 5.90% and a return on equity of 11.99%. The business’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Research analysts predict that KB Home will post 3.6 earnings per share for the current fiscal year.

A number of brokerages have recently commented on KBH. Evercore ISI reaffirmed a “buy” rating on shares of KB Home in a research note on Wednesday, December 18th. KeyCorp lifted their price objective on shares of KB Home from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. BTIG Research restated a “hold” rating on shares of KB Home in a report on Thursday, September 26th. Zacks Investment Research raised shares of KB Home from a “sell” rating to a “hold” rating and set a $38.00 target price for the company in a research note on Wednesday, January 8th. Finally, Seaport Global Securities lowered shares of KB Home from a “buy” rating to a “neutral” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. KB Home has an average rating of “Hold” and a consensus target price of $33.79.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.

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