Landsea Homes (NASDAQ:LSEA) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Landsea Homes (NASDAQ:LSEA) in a report published on Wednesday, Benzinga reports. Wedbush currently has a $16.00 price objective on the stock.

Separately, Barclays raised their target price on shares of Landsea Homes from $13.00 to $14.00 and gave the company an equal weight rating in a research note on Tuesday, March 5th.

Landsea Homes Stock Down 12.1 %

NASDAQ:LSEA opened at $10.15 on Wednesday. The stock’s fifty day moving average price is $12.53 and its two-hundred day moving average price is $11.53. The company has a market cap of $366.92 million, a price-to-earnings ratio of 13.53 and a beta of 1.11. Landsea Homes has a 52-week low of $7.00 and a 52-week high of $14.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37.

Landsea Homes (NASDAQ:LSEA) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.09. The business had revenue of $397.62 million for the quarter, compared to analyst estimates of $323.64 million. Landsea Homes had a return on equity of 6.80% and a net margin of 2.42%. On average, analysts anticipate that Landsea Homes will post 1.48 EPS for the current year.

Insider Transactions at Landsea Homes

In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of Landsea Homes 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 completion of the sale, the insider now directly owns 16,940,729 shares of the company’s stock, valued at $196,512,456.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of Landsea Homes stock in a transaction that occurred on Friday, March 8th. The shares were 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 approximately $196,512,456.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Forsum acquired 17,241 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average price of $11.60 per share, with a total value of $199,995.60. Following the acquisition, the chief operating officer now 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. Insiders have purchased 20,430 shares of company stock worth $236,988 in the last three months. Insiders own 66.90% of the company’s stock.

Institutional Trading of Landsea Homes

Several hedge funds have recently added to or reduced their stakes in LSEA. Byrne Asset Management LLC acquired a new position in Landsea Homes in the third quarter valued at about $26,000. AJOVista LLC acquired a new position in shares of Landsea Homes in the 4th quarter valued at approximately $64,000. Bank of New York Mellon Corp increased its stake in Landsea Homes by 4.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 128,206 shares of the company’s stock worth $1,153,000 after purchasing an additional 5,721 shares in the last quarter. Quarry LP acquired a new stake in Landsea Homes during the 4th quarter worth approximately $90,000. Finally, LSV Asset Management bought a new position in Landsea Homes in the fourth quarter valued at approximately $135,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

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.