Short Sellers Boost Bet Against Homebuilders (June 2007)
Stock Tickers: XHB, DHI, LEN, PHM, CTX, TOL, NVR, KBH, MDC, RYL, SPF, BZH, HOV This can’t be a shock considering ‘how great’ the housing market is and how many new homes are selling in the US. There was a…
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Stock Tickers: XHB, DHI, LEN, PHM, CTX, TOL, NVR, KBH, MDC, RYL, SPF, BZH, HOV
This can’t be a shock considering ‘how great’ the housing market is and how many new homes are selling in the US. There was a boost to the short selling in US-based homebuilding stocks. Oddly enough, the SPDR Hombuilder ETF (HXB) saw a fairly large drop, which means that traders are using this as a hedging instrument or they are deciding to go after the basket to to minimize headline risk in any one name. We could have listed 1- more homebuilders, but we cut the list off at the $1 Billion market cap line.
Here are the changes in the number of shares in the Short Interest:
Stock (Ticker) JUNE MAY Change
DR Horton (DHI) 30.14M 28.52M +5.9%
Centex (CTX) 17.2M 16.3M +5.4%
Toll Brothers (TOL) 23.67M 22.75M +4%
NVR Inc.(NVR) 1.31M 961K +40%
MDC Holdings (MDC) 7.19M 6.82M +5.4%
Ryland Group (RYL) 9.97M 9.43M +5.6%
Standard Pacific (SPF) 16.92M 16.28M +3.9%
Hovnanaian (HOV) 18.61M 17.52M +6.2%
Lennar (LEN) 15.52M 15.6M -0.8%
Pulte Homs (PHM) 25.03M 25.13M -0.4%
KB Home (KBH) 17.64M 17.7M -1.2%
Beazer Homes (BZH) 14.63M 15.96M -8.3%
Jon C. Ogg
June 22, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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