Cipher Capital Lp buys $8,815,251 stake in KB Home (KBH)

KB Home (KBH) : Cipher Capital Lp scooped up 86,245 additional shares in KB Home during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 575,408 shares of KB Home which is valued at $8,815,251.KB Home makes up approximately 0.58% of Cipher Capital Lp’s portfolio.

Other Hedge Funds, Including , Laurel Wealth Advisors added KBH to its portfolio by purchasing 50,000 company shares during the most recent quarter which is valued at $766,000. KB Home makes up approx 0.36% of Laurel Wealth Advisors’s portfolio.Gagnon Securities reduced its stake in KBH by selling 218 shares or 1.08% in the most recent quarter. The Hedge Fund company now holds 19,967 shares of KBH which is valued at $305,894. KB Home makes up approx 0.14% of Gagnon Securities’s portfolio.Lsv Asset Management boosted its stake in KBH in the latest quarter, The investment management firm added 635,328 additional shares and now holds a total of 662,828 shares of KB Home which is valued at $10,426,284. KB Home makes up approx 0.02% of Lsv Asset Management’s portfolio. Gsa Capital Partners Llp sold out all of its stake in KBH during the most recent quarter. The investment firm sold 10,413 shares of KBH which is valued $163,796.

KB Home opened for trading at $15.51 and hit $16.22 on the upside on Tuesday, eventually ending the session at $16.13, with a gain of 4.88% or 0.75 points. The heightened volatility saw the trading volume jump to 32,23,662 shares. Company has a market cap of $1,359 M.

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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