Simplex Trading Lowers stake in KB Home (KBH)

KB Home (KBH) : Simplex Trading reduced its stake in KB Home by 10.33% during the most recent quarter end. The investment management company now holds a total of 36,556 shares of KB Home which is valued at $580,875 after selling 4,211 shares in KB Home , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.KB Home makes up approximately 0.08% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Private Asset Management Inc reduced its stake in KBH by selling 1,400 shares or 6.16% in the most recent quarter. The Hedge Fund company now holds 21,325 shares of KBH which is valued at $340,347. KB Home makes up approx 0.06% of Private Asset Management Inc’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in KBH by selling 23,039 shares or 59.06% in the most recent quarter. The Hedge Fund company now holds 15,972 shares of KBH which is valued at $254,913.

KB Home closed down -0.32 points or -1.97% at $15.89 with 26,80,083 shares getting traded on Friday. Post opening the session at $16.23, the shares hit an intraday low of $15.84 and an intraday high of $16.32 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, KB Home reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Sep 20, 2016. Analyst had a consensus of $0.39. The company had revenue of $913.30 million for the quarter, compared to analysts expectations of $942.87 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Many Wall Street Analysts have commented on KB Home. KB Home was Initiated by Wells Fargo to “Market Perform” on Sep 29, 2016. Company shares were Reiterated by RBC Capital Mkts on Sep 21, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 17 from a previous price target of $16 .Wedbush Initiated KB Home on Sep 20, 2016 to “Outperform”, Price Target of the shares are set at $22.

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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