Pomelo Capital Lowers stake in KB Home (KBH)

KB Home (KBH) : Pomelo Capital reduced its stake in KB Home by 11.99% during the most recent quarter end. The investment management company now holds a total of 132,019 shares of KB Home which is valued at $2,076,659 after selling 17,981 shares in KB Home , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.KB Home makes up approximately 2.77% of Pomelo Capital’s portfolio.

Other Hedge Funds, Including , Aqr Capital Management boosted its stake in KBH in the latest quarter, The investment management firm added 1,794,282 additional shares and now holds a total of 4,946,021 shares of KB Home which is valued at $77,800,910. KB Home makes up approx 0.12% of Aqr Capital Management’s portfolio.New York State Common Retirement Fund boosted its stake in KBH in the latest quarter, The investment management firm added 9,300 additional shares and now holds a total of 264,820 shares of KB Home which is valued at $3,879,613. KB Home makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Blackrock Investment Management reduced its stake in KBH by selling 882 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 543,954 shares of KBH which is valued at $7,968,926. KB Home makes up approx 0.01% of Blackrock Investment Management’s portfolio.Lsv Asset Management boosted its stake in KBH in the latest quarter, The investment management firm added 486,186 additional shares and now holds a total of 1,149,014 shares of KB Home which is valued at $16,833,055. KB Home makes up approx 0.03% of Lsv Asset Management’s portfolio. Chicago Equity Partners added KBH to its portfolio by purchasing 151,140 company shares during the most recent quarter which is valued at $2,197,576. KB Home makes up approx 0.06% of Chicago Equity Partners’s portfolio.

KB Home opened for trading at $15.22 and hit $15.345 on the upside on Monday, eventually ending the session at $15.26, with a gain of 0.53% or 0.08 points. The heightened volatility saw the trading volume jump to 19,29,801 shares. Company has a market cap of $1,294 M.

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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