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

KB Home (NYSE:KBH) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 3,290,000 shares, a growth 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 short-interest ratio is presently 2.0 days. Currently, 3.8% of the company’s shares are short sold.

Several analysts recently commented on KBH shares. Barclays raised their price objective on shares of KB Home from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Goldman Sachs Group began coverage on shares of KB Home in a research report on Friday, December 6th. They issued a “neutral” rating and a $36.00 price objective for the company. Raymond James raised shares of KB Home from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $38.00 to $40.00 in a research note on Tuesday, January 7th. KeyCorp upped their price objective on shares of KB Home from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, Evercore ISI reiterated a “buy” rating on shares of KB Home in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.79.

In other news, CEO Jeffrey T. Mezger sold 7,986 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $36.02, for a total transaction of $287,655.72. Following the completion of the transaction, the chief executive officer now directly owns 937,238 shares of the company’s stock, valued at approximately $33,759,312.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief accounting officer now directly owns 220,027 shares of the company’s stock, valued at $7,953,976.05. The disclosure for this sale can be found here. Insiders sold 284,743 shares of company stock valued at $10,311,459 over the last quarter. 7.32% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of KBH. Hennessy Advisors Inc. acquired a new position in KB Home during the 4th quarter valued at about $11,268,000. Nomura Holdings Inc. bought a new position in KB Home during the 3rd quarter valued at $998,000. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of KB Home by 5.4% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 8,338 shares of the construction company’s stock worth $283,000 after acquiring an additional 430 shares in the last quarter. Keeley Teton Advisors LLC bought a new stake in shares of KB Home during the 3rd quarter worth $5,262,000. Finally, Millennium Management LLC grew its holdings in shares of KB Home by 68.1% in the 3rd quarter. Millennium Management LLC now owns 929,694 shares of the construction company’s stock worth $31,609,000 after acquiring an additional 376,477 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.

Shares of NYSE:KBH traded down $0.53 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 firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.92 and a beta of 1.24. KB Home has a fifty-two week low of $19.25 and a fifty-two week high of $37.59. The business’s 50-day moving average is $34.70 and its two-hundred day moving average is $31.51. The company has a quick ratio of 0.27, a current ratio of 1.68 and a debt-to-equity ratio of 0.82.

KB Home (NYSE:KBH) last issued its earnings results on Thursday, January 9th. The construction company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.02. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.60 billion. KB Home had a net margin of 5.90% and a return on equity of 11.99%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share. Analysts predict that KB Home will post 3.6 earnings per share for the current fiscal year.

About KB Home

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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