KB Home Target of Unusually Large Options Trading (NYSE:KBH)

KB Home (NYSE:KBH) saw unusually large options trading activity on Wednesday. Stock traders bought 5,017 put options on the stock. This represents an increase of approximately 1,561% compared to the average daily volume of 302 put options.

In other news, EVP Brian J. Woram sold 10,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $29.03, for a total value of $290,300.00. Following the completion of the transaction, the executive vice president now owns 151,770 shares in the company, valued at approximately $4,405,883.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Melissa Lora sold 3,291 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $26.86, for a total transaction of $88,396.26. Following the completion of the transaction, the director now owns 169,994 shares of the company’s stock, valued at approximately $4,566,038.84. The disclosure for this sale can be found here. Insiders sold a total of 23,291 shares of company stock valued at $658,896 in the last 90 days. Company insiders own 7.32% of the company’s stock.

Large investors have recently bought and sold shares of the business. Penserra Capital Management LLC purchased a new stake in shares of KB Home during the first quarter worth about $59,000. New York State Common Retirement Fund grew its holdings in shares of KB Home by 4.1% during the first quarter. New York State Common Retirement Fund now owns 113,095 shares of the construction company’s stock worth $2,734,000 after buying an additional 4,500 shares in the last quarter. Balasa Dinverno & Foltz LLC grew its holdings in shares of KB Home by 4.4% during the second quarter. Balasa Dinverno & Foltz LLC now owns 17,623 shares of the construction company’s stock worth $453,000 after buying an additional 739 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of KB Home by 1.9% during the first quarter. Texas Permanent School Fund now owns 57,458 shares of the construction company’s stock worth $1,389,000 after buying an additional 1,053 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of KB Home during the second quarter worth about $2,049,000. Hedge funds and other institutional investors own 88.79% of the company’s stock.

KBH has been the subject of a number of research analyst reports. Buckingham Research upgraded shares of KB Home from a “neutral” rating to a “buy” rating and increased their price target for the company from $27.00 to $30.00 in a report on Thursday, June 27th. BTIG Research upgraded shares of KB Home from a “sell” rating to a “neutral” rating and set a $25.73 price target for the company in a report on Monday, July 1st. Raymond James upgraded shares of KB Home from an “underperform” rating to a “market perform” rating and set a $25.39 price target for the company in a report on Friday, June 28th. Bank of America reiterated a “neutral” rating and issued a $28.00 price target (up previously from $26.00) on shares of KB Home in a report on Thursday, June 27th. Finally, Seaport Global Securities initiated coverage on shares of KB Home in a report on Friday, August 23rd. They issued a “buy” rating and a $37.00 price target for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $27.66.

NYSE:KBH traded up $0.68 during mid-day trading on Thursday, hitting $30.28. 35,370 shares of the company’s stock traded hands, compared to its average volume of 1,676,060. The firm’s 50 day simple moving average is $27.40 and its 200 day simple moving average is $25.81. KB Home has a 1 year low of $16.82 and a 1 year high of $29.65. The company has a market cap of $2.58 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 1.24 and a beta of 1.34.

KB Home (NYSE:KBH) last posted its earnings results on Wednesday, June 26th. The construction company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.12. KB Home had a net margin of 5.94% and a return on equity of 12.43%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $933.49 million. During the same period last year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. Research analysts anticipate that KB Home will post 2.68 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.09 per share. This is an increase from KB Home’s previous quarterly dividend of $0.03. This represents a $0.36 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, July 31st. KB Home’s dividend payout ratio (DPR) is 12.77%.

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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