Traders Buy Lennar (LEN) on Weakness After Insider Selling

Traders bought shares of Lennar Co. (NYSE:LEN) on weakness during trading hours on Tuesday following insider selling activity. $72.50 million flowed into the stock on the tick-up and $55.39 million flowed out of the stock on the tick-down, for a money net flow of $17.11 million into the stock. Of all companies tracked, Lennar had the 23rd highest net in-flow for the day. Lennar traded down ($0.69) for the day and closed at $60.09Specifically, General Counsel Mark Sustana sold 125,000 shares of Lennar stock in a transaction on Friday, January 12th. The shares were sold at an average price of $69.55, for a total value of $8,693,750.00. Following the sale, the general counsel now directly owns 65,720 shares in the company, valued at approximately $4,570,826. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bruce E. Gross sold 5,000 shares of Lennar stock in a transaction on Friday, January 12th. The shares were sold at an average price of $69.43, for a total transaction of $347,150.00. Following the completion of the sale, the chief financial officer now owns 361,043 shares in the company, valued at $25,067,215.49. The disclosure for this sale can be found here. Insiders sold a total of 157,095 shares of company stock worth $10,943,593 over the last quarter. Company insiders own 8.50% of the company’s stock.

Several brokerages have issued reports on LEN. Wedbush set a $60.00 price target on shares of Lennar and gave the company a “hold” rating in a research note on Thursday, January 4th. Credit Suisse Group raised shares of Lennar from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $67.00 to $81.00 in a research report on Monday, January 22nd. Zacks Investment Research downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Monday, January 15th. Wells Fargo raised shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price objective for the company in a research report on Tuesday, January 2nd. Finally, Deutsche Bank decreased their price objective on shares of Lennar from $68.00 to $65.00 and set a “hold” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $71.40.

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The firm has a market capitalization of $14,776.68, a P/E ratio of 15.77, a PEG ratio of 0.63 and a beta of 1.22. The company has a current ratio of 8.42, a quick ratio of 1.67 and a debt-to-equity ratio of 0.80.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, April 4th. The construction company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.76 by $0.35. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.05 billion. Lennar had a net margin of 6.84% and a return on equity of 13.73%. Lennar’s revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. equities analysts predict that Lennar Co. will post 5.32 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Lennar by 1.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 64,639 shares of the construction company’s stock worth $4,088,000 after buying an additional 1,167 shares during the period. Xact Kapitalforvaltning AB raised its stake in Lennar by 13.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 19,915 shares of the construction company’s stock worth $1,259,000 after purchasing an additional 2,325 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Lennar by 10.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 85,221 shares of the construction company’s stock worth $5,389,000 after purchasing an additional 8,036 shares in the last quarter. Banco de Sabadell S.A acquired a new stake in Lennar in the 4th quarter worth about $940,000. Finally, Family Management Corp acquired a new stake in Lennar in the 4th quarter worth about $2,508,000. 88.73% of the stock is owned by institutional investors and hedge funds.

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Lennar Company Profile

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

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