Assenagon Asset Management S.A. Cuts Position in Beazer Homes USA, Inc. $BZH

Key Points

• Assenagon Asset Management S.A. reduced its stake in Beazer Homes USA, Inc. by 51.6% during the second quarter, owning approximately 0.31% of the company worth $2,088,000 after selling 99,613 shares.
• Beazer Homes reported a net margin of 2.84% and earnings of $0.26 per share, missing estimates by $0.16, with revenue down 8.4% compared to the previous year.
• Hedge funds and institutional investors now hold 85.65% of Beazer Homes' stock, with recent activity including significant new positions from several asset management firms.

Assenagon Asset Management S.A. lessened its holdings in Beazer Homes USA, Inc. (NYSE:BZH - Free Report) by 51.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,338 shares of the construction company's stock after selling 99,613 shares during the period. Assenagon Asset Management S.A. owned approximately 0.31% of Beazer Homes USA worth $2,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BZH. Readystate Asset Management LP purchased a new position in shares of Beazer Homes USA in the 1st quarter worth approximately $2,210,000. Denali Advisors LLC boosted its stake in shares of Beazer Homes USA by 198.5% in the 1st quarter. Denali Advisors LLC now owns 147,777 shares of the construction company's stock worth $3,013,000 after buying an additional 98,277 shares during the last quarter. Nuveen LLC purchased a new position in shares of Beazer Homes USA in the 1st quarter worth approximately $1,651,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Beazer Homes USA in the 4th quarter worth approximately $2,077,000. Finally, Round Hill Asset Management purchased a new position in shares of Beazer Homes USA in the 1st quarter worth approximately $1,315,000. Hedge funds and other institutional investors own 85.65% of the company's stock.

Beazer Homes USA Trading Down 2.4%

Shares of BZH stock opened at $23.93 on Friday. The company's fifty day simple moving average is $24.79 and its two-hundred day simple moving average is $22.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 13.33 and a quick ratio of 0.91. Beazer Homes USA, Inc. has a 1 year low of $17.37 and a 1 year high of $38.22. The stock has a market capitalization of $711.44 million, a price-to-earnings ratio of 10.88, a PEG ratio of 0.78 and a beta of 2.12.

Beazer Homes USA (NYSE:BZH - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.16). Beazer Homes USA had a net margin of 2.84% and a return on equity of 6.16%. The business had revenue of $545.37 million for the quarter, compared to the consensus estimate of $565.47 million. During the same period in the previous year, the firm earned $0.88 EPS. The company's revenue was down 8.4% compared to the same quarter last year. As a group, analysts anticipate that Beazer Homes USA, Inc. will post 3.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BZH. B. Riley began coverage on shares of Beazer Homes USA in a report on Monday, June 30th. They issued a "neutral" rating and a $23.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and issued a $41.00 price target on shares of Beazer Homes USA in a report on Friday, August 1st. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $30.00 price target (down previously from $33.00) on shares of Beazer Homes USA in a report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.33.

Beazer Homes USA Company Profile

Beazer Homes USA, Inc operates as a homebuilder in the United States. It designs, constructs, and sells single-family and multi-family homes under the Beazer Homes, Gatherings, and Choice Plans names. The company also sells its homes through commissioned new home sales counselors and independent brokers in Arizona, California, Nevada, Texas, Indiana, Delaware, Maryland, Tennessee, Virginia, Florida, Georgia, North Carolina, and South Carolina.

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