B. Riley Analysts Reduce Earnings Estimates for Landsea Homes Co. (NASDAQ:LSEA)

Landsea Homes Co. (NASDAQ:LSEA) – Research analysts at B. Riley lowered their Q2 2024 earnings per share estimates for shares of Landsea Homes in a research note issued to investors on Thursday, May 2nd. B. Riley analyst A. Rygiel now anticipates that the company will post earnings per share of $0.27 for the quarter, down from their previous estimate of $0.31. The consensus estimate for Landsea Homes’ current full-year earnings is $1.48 per share. B. Riley also issued estimates for Landsea Homes’ Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $1.40 EPS and FY2025 earnings at $1.85 EPS.

LSEA has been the topic of several other reports. Wedbush reaffirmed an “outperform” rating and set a $16.00 target price on shares of Landsea Homes in a report on Wednesday. Barclays cut their target price on Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday.

Landsea Homes Trading Down 0.6 %

Shares of LSEA stock opened at $9.78 on Friday. The firm has a market capitalization of $353.55 million, a P/E ratio of 14.47 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 quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.34. The stock’s fifty day simple moving average is $12.46 and its 200 day simple moving average is $11.50.

Landsea Homes (NASDAQ:LSEA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Landsea Homes had a return on equity of 6.11% and a net margin of 2.08%. The company had revenue of $294.04 million for the quarter, compared to the consensus estimate of $277.30 million. During the same quarter last year, the business earned $0.18 EPS.

Institutional Investors Weigh In On Landsea Homes

A number of institutional investors and hedge funds have recently modified their holdings of LSEA. Wasatch Advisors LP purchased a new position in shares of Landsea Homes during the 1st quarter valued at $22,136,000. B. Riley Financial Inc. grew its position in Landsea Homes by 498.5% during the third quarter. B. Riley Financial Inc. now owns 866,850 shares of the company’s stock valued at $7,793,000 after acquiring an additional 722,008 shares during the last quarter. Foundry Partners LLC grew its holdings in shares of Landsea Homes by 26.8% in the third quarter. Foundry Partners LLC now owns 484,355 shares of the company’s stock worth $4,354,000 after purchasing an additional 102,279 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Landsea Homes by 749.1% in the third quarter. Acadian Asset Management LLC now owns 463,913 shares of the company’s stock worth $4,168,000 after buying an additional 409,278 shares during the period. Finally, Mill Road Capital Management LLC raised its holdings in Landsea Homes by 123.2% during the 4th quarter. Mill Road Capital Management LLC now owns 388,224 shares of the company’s stock valued at $5,101,000 after buying an additional 214,250 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Landsea Homes news, COO Michael Forsum bought 17,241 shares of Landsea Homes stock in a transaction dated Friday, March 8th. The stock was bought 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 approximately $5,181,511.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other 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 value of $32,480,000.00. Following the completion of the transaction, the insider now directly owns 16,940,729 shares in the company, valued at $196,512,456.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael Forsum bought 17,241 shares of Landsea Homes stock in a transaction on Friday, March 8th. The shares were bought at an average cost of $11.60 per share, with a total value of $199,995.60. Following the acquisition, the chief operating officer now directly owns 446,682 shares in the company, valued at $5,181,511.20. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 20,430 shares of company stock valued at $236,988. Corporate insiders own 66.90% 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.