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

Assenagon Asset Management S.A. lessened its stake in Beazer Homes USA, Inc. (NYSE:BZH) by 76.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,996 shares of the construction company’s stock after selling 108,291 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Beazer Homes USA were worth $654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jennison Associates LLC purchased a new stake in Beazer Homes USA during the 4th quarter worth $1,039,000. JPMorgan Chase & Co. increased its stake in shares of Beazer Homes USA by 1,385.2% in the third quarter. JPMorgan Chase & Co. now owns 229,705 shares of the construction company’s stock worth $5,639,000 after buying an additional 214,239 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Beazer Homes USA in the 3rd quarter valued at about $1,204,000. UBS Group AG lifted its holdings in Beazer Homes USA by 189.7% during the 4th quarter. UBS Group AG now owns 537,663 shares of the construction company’s stock worth $10,898,000 after buying an additional 352,092 shares during the last quarter. Finally, Abacus Wealth Partners LLC acquired a new position in Beazer Homes USA in the fourth quarter worth $1,022,000. 85.65% of the stock is owned by institutional investors and hedge funds.

Beazer Homes USA Stock Performance

Beazer Homes USA stock opened at $28.11 on Friday. The firm’s 50 day simple moving average is $24.74 and its 200-day simple moving average is $23.29. The company has a debt-to-equity ratio of 1.05, a current ratio of 15.67 and a quick ratio of 1.32. Beazer Homes USA, Inc. has a fifty-two week low of $17.83 and a fifty-two week high of $29.80. The company has a market cap of $768.19 million, a P/E ratio of -187.39 and a beta of 2.18.

Beazer Homes USA (NYSE:BZH) last released its earnings results on Thursday, April 30th. The construction company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.69. The company had revenue of $409.85 million during the quarter, compared to analyst estimates of $448.79 million. Beazer Homes USA had a positive return on equity of 0.99% and a negative net margin of 0.18%.The company’s revenue for the quarter was down 27.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. As a group, equities research analysts predict that Beazer Homes USA, Inc. will post -0.41 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Beazer Homes USA in a report on Friday, June 26th. Wall Street Zen lowered shares of Beazer Homes USA from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.50.

About Beazer Homes USA

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.