Landsea Homes (NASDAQ:LSEA) PT Raised to $17.00

Landsea Homes (NASDAQ:LSEA) had its price objective boosted by Wedbush from $16.00 to $17.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. Oppenheimer began coverage on shares of Landsea Homes in a research report on Friday, May 31st. They set an outperform rating and a $14.00 target price on the stock. Barclays decreased their target price on shares of Landsea Homes from $11.00 to $10.00 and set an equal weight rating on the stock in a research report on Friday, July 12th.

Landsea Homes Price Performance

Shares of LSEA stock traded down $0.11 during trading hours on Friday, hitting $11.55. The company’s stock had a trading volume of 55,901 shares, compared to its average volume of 201,585. The business has a fifty day moving average of $10.09 and a 200-day moving average of $11.33. The stock has a market cap of $417.87 million, a price-to-earnings ratio of 17.15, a P/E/G ratio of 0.86 and a beta of 1.11. Landsea Homes has a twelve month low of $7.00 and a twelve month high of $14.91. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.35.

Landsea Homes (NASDAQ:LSEA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. The business had revenue of $431.14 million for the quarter, compared to analyst estimates of $336.20 million. Landsea Homes had a net margin of 1.72% and a return on equity of 6.25%. During the same period in the prior year, the business earned $0.33 earnings per share. As a group, equities research analysts anticipate that Landsea Homes will post 1.47 EPS for the current year.

Insider Activity

In other news, major shareholder Holdings Corp Landsea sold 4,100,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $6.00, for a total value of $24,600,000.00. Following the transaction, the insider now owns 12,840,729 shares of the company’s stock, valued at approximately $77,044,374. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Holdings Corp Landsea sold 4,100,000 shares of Landsea Homes stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $6.00, for a total transaction of $24,600,000.00. Following the sale, the insider now owns 12,840,729 shares of the company’s stock, valued at approximately $77,044,374. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ming Tian sold 450,000 shares of Landsea Homes stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $9.53, for a total transaction of $4,288,500.00. Following the sale, the director now directly owns 12,290,729 shares in the company, valued at approximately $117,130,647.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,567,162 shares of company stock valued at $29,057,772. Company insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LSEA. Allspring Global Investments Holdings LLC acquired a new position in shares of Landsea Homes in the 1st quarter valued at about $2,543,000. Mill Road Capital Management LLC raised its holdings in shares of Landsea Homes by 123.2% in the 4th quarter. Mill Road Capital Management LLC now owns 388,224 shares of the company’s stock worth $5,101,000 after purchasing an additional 214,250 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of Landsea Homes by 82.3% during the first quarter. Hood River Capital Management LLC now owns 482,339 shares of the company’s stock valued at $7,008,000 after acquiring an additional 217,767 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Landsea Homes by 20.4% during the first quarter. Acadian Asset Management LLC now owns 701,711 shares of the company’s stock valued at $10,191,000 after acquiring an additional 118,802 shares during the period. Finally, III Capital Management raised its holdings in shares of Landsea Homes by 24.5% during the fourth quarter. III Capital Management now owns 100,921 shares of the company’s stock valued at $1,326,000 after acquiring an additional 19,864 shares during the period. 82.99% of the stock is owned by institutional investors and hedge funds.

About Landsea Homes

Landsea Homes Corporation engages in the design, construction, marketing, and sale of suburban and urban single-family detached and attached homes in the United States. The company develops homes and communities; builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities.