Brightline Capital Management LLC Sells 388,000 Shares of Beazer Homes USA, Inc. (NYSE:BZH)

Brightline Capital Management LLC cut its holdings in shares of Beazer Homes USA, Inc. (NYSE:BZH) by 79.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the construction company’s stock after selling 388,000 shares during the quarter. Beazer Homes USA makes up 1.5% of Brightline Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Brightline Capital Management LLC’s holdings in Beazer Homes USA were worth $3,417,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BZH. Koss Olinger Consulting LLC lifted its holdings in Beazer Homes USA by 1.8% during the third quarter. Koss Olinger Consulting LLC now owns 16,548 shares of the construction company’s stock valued at $565,000 after purchasing an additional 297 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Beazer Homes USA by 4.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,390 shares of the construction company’s stock valued at $355,000 after buying an additional 408 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Beazer Homes USA by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,184 shares of the construction company’s stock valued at $417,000 after buying an additional 581 shares in the last quarter. ClariVest Asset Management LLC grew its stake in Beazer Homes USA by 2.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 34,257 shares of the construction company’s stock valued at $941,000 after buying an additional 918 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Beazer Homes USA by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,780 shares of the construction company’s stock worth $584,000 after acquiring an additional 943 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BZH has been the topic of a number of recent research reports. Zelman & Associates reissued an “underperform” rating on shares of Beazer Homes USA in a report on Tuesday, September 17th. StockNews.com downgraded shares of Beazer Homes USA from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Wedbush raised shares of Beazer Homes USA from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $41.00 to $45.00 in a research note on Thursday, September 5th. Finally, B. Riley lowered their target price on shares of Beazer Homes USA from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat, Beazer Homes USA currently has an average rating of “Hold” and a consensus target price of $39.67.

Beazer Homes USA Price Performance

Shares of NYSE:BZH traded up $0.51 on Wednesday, hitting $35.50. The company’s stock had a trading volume of 67,018 shares, compared to its average volume of 362,621. The company has a market capitalization of $1.10 billion, a PE ratio of 7.72, a PEG ratio of 0.40 and a beta of 2.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 14.29 and a quick ratio of 1.87. The company has a 50-day simple moving average of $32.72 and a 200 day simple moving average of $30.61. Beazer Homes USA, Inc. has a 1 year low of $25.48 and a 1 year high of $38.22.

Beazer Homes USA (NYSE:BZH) last announced its earnings results on Wednesday, November 13th. The construction company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.34. Beazer Homes USA had a net margin of 6.02% and a return on equity of 11.95%. The business had revenue of $806.20 million for the quarter, compared to the consensus estimate of $775.42 million. During the same period last year, the firm posted $1.80 earnings per share. Beazer Homes USA’s quarterly revenue was up 24.9% on a year-over-year basis. Sell-side analysts forecast that Beazer Homes USA, Inc. will post 4.44 EPS for the current fiscal year.

Insider Activity

In other news, CFO David I. Goldberg sold 6,057 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $32.06, for a total transaction of $194,187.42. Following the transaction, the chief financial officer now directly owns 131,004 shares in the company, valued at approximately $4,199,988.24. This represents a 4.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.99% of the company’s stock.

About Beazer Homes USA

Beazer Homes USA, Inc operates as a homebuilder in the United States. It designs, constructs, and sells single-family and multi-family homes under the Beazer Homes, Gatherings, and Choice Plans names. The company also sells its homes through commissioned new home sales counselors and independent brokers in Arizona, California, Nevada, Texas, Indiana, Delaware, Maryland, Tennessee, Virginia, Florida, Georgia, North Carolina, and South Carolina.