Everest Capital Exits Position in KB Home (KBH)

KB Home (KBH) : Everest Capital has sold out all of its stake in KB Home during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 14,800 shares of KB Home which is valued at $226,736.

Other Hedge Funds, Including , Lazard Asset Management reduced its stake in KBH by selling 93,830 shares or 92.06% in the most recent quarter. The Hedge Fund company now holds 8,090 shares of KBH which is valued at $123,939.Aperio Group reduced its stake in KBH by selling 21,300 shares or 12.72% in the most recent quarter. The Hedge Fund company now holds 146,184 shares of KBH which is valued at $2,239,539. KB Home makes up approx 0.02% of Aperio Group’s portfolio.Profund Advisors boosted its stake in KBH in the latest quarter, The investment management firm added 2,304 additional shares and now holds a total of 17,523 shares of KB Home which is valued at $268,452. KB Home makes up approx 0.01% of Profund Advisors’s portfolio.Financial Architects Inc boosted its stake in KBH in the latest quarter, The investment management firm added 1,697 additional shares and now holds a total of 2,697 shares of KB Home which is valued at $44,393. KB Home makes up approx 0.01% of Financial Architects Inc’s portfolio.

KB Home closed down -0.31 points or -1.97% at $15.39 with 20,83,349 shares getting traded on Thursday. Post opening the session at $15.73, the shares hit an intraday low of $15.28 and an intraday high of $15.83 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, KB Home reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jun 21, 2016. Analyst had a consensus of $0.16. The company had revenue of $811.10 million for the quarter, compared to analysts expectations of $750.43 million. The company’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on KB Home. KB Home was Downgraded by Buckingham Research to ” Neutral” on Jul 18, 2016. Company shares were Reiterated by FBR Capital on Jun 22, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 16 from a previous price target of $15 .Company shares were Reiterated by UBS on Jun 22, 2016 to “Sell”, Firm has raised the Price Target to $ 12 from a previous price target of $11 .

KB Home is a homebuilding company that constructs and sells homes through its operating divisions under the name KB Home. The Company operates through five operating segments which includes four homebuilding segments and one financial services segment. The Company’s homebuilding operations are organized into four segments: West Coast Southwest Central and Southeast. The Company delivered approximately 7215 homes through its four homebuilding segments. The Company’s financial services segment offers property and casualty insurance and in certain instances earthquake flood and personal property insurance to its homebuyers. The Company also provides title services in the majority of its markets located within Central and Southeast homebuilding reporting segments. This segment also offers mortgage banking services including residential consumer mortgage loan originations to its homebuyers indirectly through Home Community Mortgage LLC (HCM).

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