Sat. Sep 30th, 2023
    Cornercap Investment Counsel Inc. Acquires Position in Beazer Homes USA

    Cornercap Investment Counsel Inc. has acquired a new position in Beazer Homes USA, Inc. in the first quarter, according to its recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,804 shares of Beazer Homes USA, valued at approximately $1,124,000. Cornercap Investment Counsel Inc. now owns 0.23% of the company.

    Several other institutional investors and hedge funds have also made changes to their holdings of Beazer Homes USA. Tower Research Capital LLC TRC raised its holdings in the company by 83.4% during the third quarter. Captrust Financial Advisors raised its holdings by 60.3% during the second quarter. Lazard Asset Management LLC purchased a new stake in the first quarter. State of Wyoming raised its holdings by 2,421.5% during the fourth quarter. Allspring Global Investments Holdings LLC raised its holdings by 15.3% in the first quarter. In total, institutional investors and hedge funds hold 77.62% of Beazer Homes USA’s stock.

    Shares of Beazer Homes USA traded down $1.59 on Friday, reaching $27.28. The stock has a market cap of $854.96 million, a price-to-earnings ratio of 4.45, and a beta of 2.30. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $0.88. Analysts forecast that Beazer Homes USA will post 4.54 EPS for the current year.

    Several research firms have recently issued reports on BZH, with the majority giving a buy rating to the stock. Beazer Homes USA designs, constructs, and sells single-family and multi-family homes in the United States. The company sells its homes through commissioned new home sales counselors and independent brokers in various states.

    Sources: SEC, MarketBeat