KB Home $KBH Shares Sold by Jump Financial LLC

Key Points

• Jump Financial LLC has significantly reduced its stake in KB Home, lowering it by 75.1% to 10,152 shares, which are valued at approximately $590,000.
• Despite Jump Financial's exit, several other institutional investors, including Northern Trust Corp and Two Sigma Advisers LP, have increased their holdings in KB Home, indicating varying investor sentiment.
• KB Home recently reported $1.50 EPS, beating consensus estimates, but its revenue was down 10.5% year-over-year, highlighting challenges within the homebuilding sector.

Jump Financial LLC lowered its position in shares of KB Home (NYSE:KBH - Free Report) by 75.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,152 shares of the construction company's stock after selling 30,573 shares during the quarter. Jump Financial LLC's holdings in KB Home were worth $590,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KBH. Harbor Capital Advisors Inc. raised its holdings in shares of KB Home by 73.7% during the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock valued at $35,000 after acquiring an additional 258 shares during the last quarter. Sachetta LLC increased its holdings in shares of KB Home by 3,142.9% in the first quarter. Sachetta LLC now owns 681 shares of the construction company's stock valued at $40,000 after purchasing an additional 660 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of KB Home in the first quarter valued at approximately $40,000. Byrne Asset Management LLC increased its holdings in shares of KB Home by 51.8% in the first quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock valued at $45,000 after purchasing an additional 264 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of KB Home by 30.1% in the first quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock valued at $56,000 after purchasing an additional 221 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.

Insider Buying and Selling at KB Home

In other news, COO Robert V. Mcgibney sold 14,000 shares of KB Home stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $53.52, for a total value of $749,280.00. Following the completion of the sale, the chief operating officer directly owned 78,345 shares of the company's stock, valued at approximately $4,193,024.40. The trade was a 15.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.89% of the company's stock.

KB Home Trading Up 3.4%

KBH stock traded up $2.18 during midday trading on Thursday, hitting $65.92. 459,819 shares of the company's stock were exchanged, compared to its average volume of 1,466,948. The business has a 50-day simple moving average of $58.30 and a two-hundred day simple moving average of $56.65. The company has a current ratio of 5.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $4.49 billion, a PE ratio of 8.73, a P/E/G ratio of 5.11 and a beta of 1.36. KB Home has a 1-year low of $48.90 and a 1-year high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last posted its earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.05. The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.51 billion. KB Home had a return on equity of 14.02% and a net margin of 8.47%.The firm's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.15 earnings per share. On average, sell-side analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. KB Home's payout ratio is presently 13.25%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Oppenheimer assumed coverage on KB Home in a report on Wednesday. They issued a "market perform" rating for the company. Barclays set a $49.00 price target on KB Home and gave the company an "equal weight" rating in a report on Tuesday, June 24th. Keefe, Bruyette & Woods cut their price target on KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a report on Thursday, June 26th. Wells Fargo & Company increased their price target on KB Home from $50.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday. Finally, Wall Street Zen raised KB Home from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $66.86.

KB Home Profile

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