Stock Traders Buy High Volume of Put Options on KB Home (NYSE:KBH)

KB Home (NYSE:KBH) saw unusually large options trading on Monday. Stock traders bought 11,126 put options on the company. This represents an increase of 1,215% compared to the average volume of 846 put options.

A number of hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. purchased a new stake in KB Home during the 4th quarter worth approximately $2,955,000. Profund Advisors LLC grew its position in shares of KB Home by 5.6% in the 4th quarter. Profund Advisors LLC now owns 8,096 shares of the construction company’s stock worth $277,000 after acquiring an additional 426 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of KB Home by 4.7% in the 1st quarter. State of Alaska Department of Revenue now owns 14,749 shares of the construction company’s stock worth $266,000 after acquiring an additional 666 shares in the last quarter. Mason Street Advisors LLC grew its position in shares of KB Home by 1.6% in the 4th quarter. Mason Street Advisors LLC now owns 45,566 shares of the construction company’s stock worth $1,562,000 after acquiring an additional 719 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of KB Home by 0.7% in the 1st quarter. Legal & General Group Plc now owns 128,537 shares of the construction company’s stock worth $2,326,000 after acquiring an additional 924 shares in the last quarter. Institutional investors own 89.52% of the company’s stock.

KBH stock opened at $28.58 on Tuesday. KB Home has a 52-week low of $9.82 and a 52-week high of $40.51. The stock’s 50 day moving average is $31.49 and its two-hundred day moving average is $30.38. The company has a market capitalization of $2.59 billion, a PE ratio of 8.88, a P/E/G ratio of 1.75 and a beta of 1.94.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, June 24th. The construction company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. KB Home had a return on equity of 12.82% and a net margin of 6.43%. The company had revenue of $913.97 million for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the business earned $0.51 EPS. KB Home’s revenue for the quarter was down 10.6% compared to the same quarter last year. Equities research analysts anticipate that KB Home will post 2.57 EPS for the current fiscal year.

A number of research firms have recently commented on KBH. JPMorgan Chase & Co. downgraded KB Home from a “neutral” rating to an “underweight” rating and set a $32.00 price objective on the stock. in a report on Thursday, June 11th. Raymond James cut their price objective on KB Home from $42.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Monday, March 30th. Credit Suisse Group began coverage on KB Home in a report on Wednesday, May 27th. They issued an “outperform” rating and a $36.00 price objective on the stock. Wedbush restated a “neutral” rating and issued a $31.00 price objective on shares of KB Home in a report on Thursday, June 18th. Finally, Barclays reiterated a “buy” rating on shares of KB Home in a report on Sunday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. KB Home currently has an average rating of “Hold” and an average target price of $33.72.

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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