Jennison Associates LLC Acquires Shares of 51,268 Beazer Homes USA, Inc. $BZH

Key Points

• Jennison Associates LLC acquired a new stake of 51,268 shares of Beazer Homes (NYSE: BZH) in Q4, valued at approximately $1.04 million, representing about 0.17% ownership.
• Several large institutions materially increased positions—UBS (+189.7%), Millennium (+928.5%), and JPMorgan (+1,385.2%)—and overall institutional ownership stands at 85.65%.
• Analysts have a consensus Hold rating with a target price of $31.33; Beazer recently beat EPS estimates (‑$0.03 vs. ‑$0.72) while revenue fell ~27.5% year‑over‑year and the stock has a market cap of about $608M.

Jennison Associates LLC acquired a new stake in Beazer Homes USA, Inc. (NYSE:BZH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 51,268 shares of the construction company's stock, valued at approximately $1,039,000. Jennison Associates LLC owned 0.17% of Beazer Homes USA at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. UBS Group AG raised its position in Beazer Homes USA by 189.7% in the 4th quarter. UBS Group AG now owns 537,663 shares of the construction company's stock valued at $10,898,000 after purchasing an additional 352,092 shares during the last quarter. Millennium Management LLC boosted its stake in Beazer Homes USA by 928.5% during the 3rd quarter. Millennium Management LLC now owns 376,183 shares of the construction company's stock worth $9,235,000 after purchasing an additional 339,607 shares during the period. JPMorgan Chase & Co. grew its position in Beazer Homes USA by 1,385.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 229,705 shares of the construction company's stock worth $5,639,000 after purchasing an additional 214,239 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Beazer Homes USA by 93.4% in the third quarter. Teacher Retirement System of Texas now owns 133,861 shares of the construction company's stock valued at $3,286,000 after purchasing an additional 64,652 shares during the period. Finally, Cerity Partners LLC increased its stake in Beazer Homes USA by 101.4% in the second quarter. Cerity Partners LLC now owns 127,555 shares of the construction company's stock valued at $2,853,000 after purchasing an additional 64,220 shares during the period. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BZH shares. Zacks Research upgraded shares of Beazer Homes USA from a "strong sell" rating to a "hold" rating in a research note on Friday, January 16th. Weiss Ratings cut Beazer Homes USA from a "hold (c)" rating to a "sell (d)" rating in a research report on Friday, January 30th. Finally, Wall Street Zen raised Beazer Homes USA from a "strong sell" rating to a "sell" rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $31.33.

Beazer Homes USA Stock Performance

Shares of BZH opened at $20.61 on Monday. The stock has a market capitalization of $608.11 million, a P/E ratio of -137.39, a P/E/G ratio of 1.71 and a beta of 2.15. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.32 and a current ratio of 15.67. Beazer Homes USA, Inc. has a 1 year low of $18.58 and a 1 year high of $28.33. The company's fifty day moving average is $21.82 and its two-hundred day moving average is $22.45.

Beazer Homes USA (NYSE:BZH - Get Free Report) last released its earnings results on Thursday, April 30th. The construction company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.69. The company had revenue of $409.85 million during the quarter, compared to analysts' expectations of $448.79 million. Beazer Homes USA had a negative net margin of 0.18% and a positive return on equity of 0.99%. The business's revenue was down 27.5% on a year-over-year basis. During the same quarter last year, the business earned $0.42 EPS. On average, sell-side analysts predict that Beazer Homes USA, Inc. will post 1.01 earnings per share for the current year.

Beazer Homes USA Profile

Beazer Homes USA, Inc is a national homebuilder specializing in the design, construction and sale of single-family homes. The company serves a diverse range of buyers, offering product lines that span from entry-level homes to move-up and active adult communities. In addition to its core homebuilding operations, Beazer provides mortgage financing, title and closing services through its subsidiaries, aiming to simplify the home-buying process and manage risk across the transaction.

Operating in key growth markets across the United States, Beazer Homes maintains a presence in more than a dozen metropolitan areas, including select markets in the Southeast, Southwest and West.

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