Wedbush Reaffirms “Outperform” Rating for Landsea Homes (NASDAQ:LSEA)

Wedbush restated their outperform rating on shares of Landsea Homes (NASDAQ:LSEA) in a research note published on Wednesday morning, Benzinga reports. They currently have a $16.00 price objective on the stock.

Separately, Barclays boosted 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 report on Tuesday, March 5th.

Landsea Homes Trading Down 0.6 %

NASDAQ:LSEA opened at $9.78 on Wednesday. Landsea Homes has a 12 month low of $7.00 and a 12 month high of $14.91. The firm has a fifty day simple moving average of $12.46 and a 200-day simple moving average of $11.50. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $353.55 million, a P/E ratio of 14.38 and a beta of 1.11.

Landsea Homes (NASDAQ:LSEA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.06 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $277.30 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, equities research analysts anticipate that Landsea Homes will post 1.48 earnings per share for the current year.

Insider Activity at Landsea Homes

In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 16,940,729 shares in the company, valued at $196,512,456.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Landsea Homes news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of Landsea Homes stock in a transaction on Friday, March 8th. The shares were 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 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 can be accessed through this link. Also, COO Michael Forsum acquired 17,241 shares of the business’s stock in a transaction on Friday, March 8th. The stock was purchased 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 of the company’s stock, valued at approximately $5,181,511.20. The disclosure for this purchase can be found here. Insiders acquired 20,430 shares of company stock worth $236,988 over the last three months. Company insiders own 66.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Byrne Asset Management LLC purchased a new position in Landsea Homes in the third quarter valued at $26,000. AJOVista LLC purchased a new position in Landsea Homes in the fourth quarter valued at $64,000. Bank of New York Mellon Corp increased its stake in shares of Landsea Homes by 4.7% during the third 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 purchased a new stake in shares of Landsea Homes during the fourth quarter worth about $90,000. Finally, LSV Asset Management purchased a new stake in shares of Landsea Homes during the fourth quarter worth about $135,000. Hedge funds and other institutional investors 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.