Synovus Financial Corp Sells 57,547 Shares of Beazer Homes USA, Inc. (BZH)
Synovus Financial Corp cut its stake in shares of Beazer Homes USA, Inc. (NYSE:BZH) by 50.1% during the third quarter, Holdings Channel reports. The institutional investor owned 57,212 shares of the company’s stock after selling 57,547 shares during the period. Synovus Financial Corp owned 0.18% of Beazer Homes USA worth $666,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Beazer Homes USA by 503.7% in the second quarter. BlackRock Inc. now owns 13,729 shares of the company’s stock valued at $107,000 after buying an additional 11,455 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in Beazer Homes USA during the second quarter valued at about $126,000. Fox Run Management L.L.C. purchased a new stake in Beazer Homes USA during the third quarter valued at about $170,000. Alliancebernstein L.P. increased its stake in Beazer Homes USA by 16.9% in the second quarter. Alliancebernstein L.P. now owns 31,800 shares of the company’s stock valued at $246,000 after buying an additional 4,600 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Beazer Homes USA during the second quarter valued at about $381,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.
Beazer Homes USA, Inc. (NYSE:BZH) traded up 0.53% during mid-day trading on Friday, hitting $13.31. The company had a trading volume of 406,305 shares. The company’s 50 day moving average price is $13.84 and its 200-day moving average price is $11.31. Beazer Homes USA, Inc. has a 12-month low of $6.07 and a 12-month high of $15.80. The firm has a market capitalization of $423.46 million, a PE ratio of 92.43 and a beta of 3.00.
Beazer Homes USA (NYSE:BZH) last released its quarterly earnings data on Tuesday, November 15th. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.70. The business earned $632.10 million during the quarter, compared to the consensus estimate of $637.02 million. Beazer Homes USA had a return on equity of 3.83% and a net margin of 0.26%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $0.97 earnings per share. On average, analysts forecast that Beazer Homes USA, Inc. will post $0.96 EPS for the current fiscal year.
Several analysts have issued reports on BZH shares. Zacks Investment Research raised Beazer Homes USA from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Tuesday, November 29th. Wedbush initiated coverage on Beazer Homes USA in a research report on Monday, December 5th. They issued a “neutral” rating and a $15.00 target price on the stock. Finally, FBN Securities downgraded Beazer Homes USA from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $13.50 to $11.50 in a research report on Monday, October 10th. Five research analysts have rated the stock with a hold rating, Beazer Homes USA has a consensus rating of “Hold” and an average target price of $13.88.
In other news, Director Brian C. Beazer purchased 5,000 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was purchased at an average cost of $12.48 per share, with a total value of $62,400.00. Following the acquisition, the director now directly owns 69,015 shares in the company, valued at $861,307.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian C. Beazer purchased 3,000 shares of the business’s stock in a transaction on Monday, November 21st. The stock was purchased at an average cost of $12.99 per share, with a total value of $38,970.00. Following the completion of the acquisition, the director now owns 69,015 shares in the company, valued at $896,504.85. The disclosure for this purchase can be found here. 7.60% of the stock is currently owned by company insiders.
About Beazer Homes USA
Beazer Homes USA, Inc is a geographically diversified homebuilder. As of September 30, 2016, the Company had operations in 13 states within over three geographic regions in the United States. The Company’s segments include West, East and Southeast. The Company markets and sells its products through its Website, www.beazer.com; mobile site, m.beazer.com; real estate listing sites, online advertising, including search engine marketing and display advertising, social media, video, brochures, direct marketing and out-of-home advertising, including billboards and signage, as well as other activities.
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