Landsea Homes (NASDAQ:LSEA) Reaches New 52-Week High at $14.65

Landsea Homes Co. (NASDAQ:LSEA)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $14.65 and last traded at $14.63, with a volume of 87792 shares changing hands. The stock had previously closed at $14.07.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $16.00 price objective on shares of Landsea Homes in a report on Friday, March 1st. Barclays lifted their price objective on Landsea Homes from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 5th.

Landsea Homes Trading Up 3.3 %

The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37. The stock has a market capitalization of $523.40 million, a PE ratio of 18.76 and a beta of 1.04. The stock has a 50-day moving average price of $12.58 and a two-hundred day moving average price of $10.94.

Landsea Homes (NASDAQ:LSEA) last released its earnings results on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.09. Landsea Homes had a return on equity of 6.80% and a net margin of 2.42%. The firm had revenue of $397.62 million for the quarter, compared to the consensus estimate of $323.64 million. As a group, equities analysts forecast that Landsea Homes Co. will post 1.48 earnings per share for the current year.

Insider Activity

In related news, COO Michael Forsum bought 17,241 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average cost of $11.60 per share, with a total value of $199,995.60. Following the completion of the acquisition, the chief operating officer now directly owns 446,682 shares in the company, valued at $5,181,511.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Landsea Homes news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $11.60, for a total transaction of $32,480,000.00. Following the transaction, the insider now owns 16,940,729 shares of the company’s stock, valued at $196,512,456.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Forsum acquired 17,241 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average price of $11.60 per share, with a total value of $199,995.60. Following the completion of the transaction, the chief operating officer now directly owns 446,682 shares of the company’s stock, valued at approximately $5,181,511.20. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 20,430 shares of company stock valued at $236,988. Company insiders own 66.90% of the company’s stock.

Institutional Trading of Landsea Homes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LSEA. Bank of New York Mellon Corp boosted its position in Landsea Homes by 5.1% in the 1st quarter. Bank of New York Mellon Corp now owns 64,414 shares of the company’s stock valued at $551,000 after buying an additional 3,107 shares during the period. Panagora Asset Management Inc. boosted its holdings in Landsea Homes by 72.8% in the first quarter. Panagora Asset Management Inc. now owns 35,237 shares of the company’s stock valued at $301,000 after purchasing an additional 14,850 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Landsea Homes in the first quarter valued at approximately $210,000. Lazard Asset Management LLC purchased a new stake in Landsea Homes in the 1st quarter valued at $89,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Landsea Homes by 26.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,311 shares of the company’s stock worth $268,000 after buying an additional 6,542 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Landsea Homes Company Profile

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.