KB Home (NYSE:KBH) was the recipient of unusually large options trading on Friday. Stock investors purchased 7,256 put options on the stock. This is an increase of 75% compared to the average volume of 4,141 put options.
In other news, EVP Brian J. Woram sold 39,370 shares of KB Home stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $41.56, for a total value of $1,636,217.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey T. Mezger sold 166,861 shares of KB Home stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $42.66, for a total value of $7,118,290.26. The disclosure for this sale can be found here. Insiders sold 352,032 shares of company stock worth $14,837,469 over the last ninety days. Insiders own 4.40% of the company's stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sovarnum Capital L.P. purchased a new stake in shares of KB Home in the second quarter valued at approximately $3,339,000. Vanguard Group Inc. raised its stake in KB Home by 1.9% in the second quarter. Vanguard Group Inc. now owns 8,227,362 shares of the construction company's stock worth $335,018,000 after buying an additional 154,533 shares in the last quarter. Millennium Management LLC raised its stake in KB Home by 961.8% in the second quarter. Millennium Management LLC now owns 1,473,440 shares of the construction company's stock worth $59,998,000 after buying an additional 1,334,668 shares in the last quarter. Allianz Asset Management GmbH raised its stake in KB Home by 32.3% in the second quarter. Allianz Asset Management GmbH now owns 203,198 shares of the construction company's stock worth $8,274,000 after buying an additional 49,655 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake in KB Home by 23.1% in the second quarter. Penserra Capital Management LLC now owns 25,265 shares of the construction company's stock worth $1,028,000 after buying an additional 4,743 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.
Several research analysts recently commented on the company. Wedbush lifted their price target on KB Home from $60.00 to $73.00 in a research report on Thursday. Raymond James lifted their price target on KB Home from $55.00 to $63.00 and gave the stock a "strong-buy" rating in a research report on Friday. Zacks Investment Research upgraded KB Home from a "sell" rating to a "hold" rating and set a $43.00 target price for the company in a research report on Tuesday, September 28th. Royal Bank of Canada boosted their target price on KB Home from $46.00 to $55.00 in a research report on Thursday. Finally, Bank of America started coverage on KB Home in a research report on Monday, November 8th. They set a "neutral" rating for the company. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, KB Home currently has a consensus rating of "Buy" and a consensus target price of $54.73.
Shares of NYSE KBH traded down $0.99 during trading hours on Friday, reaching $48.39. The stock had a trading volume of 171,830 shares, compared to its average volume of 1,403,888. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 8.13, a P/E/G ratio of 0.15 and a beta of 1.76. The business's fifty day moving average price is $43.04 and its two-hundred day moving average price is $41.86. KB Home has a 52-week low of $34.55 and a 52-week high of $52.48.
KB Home (NYSE:KBH) last announced its quarterly earnings results on Wednesday, January 12th. The construction company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.14. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.71 billion. KB Home had a return on equity of 20.13% and a net margin of 9.86%. KB Home's quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 earnings per share. As a group, equities research analysts anticipate that KB Home will post 7.88 EPS for the current year.
About KB Home
KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects.
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