Dream Finders Homes (NASDAQ:DFH) Stock Price Up 9.5% Following Strong Earnings

Dream Finders Homes, Inc. (NASDAQ:DFH – Get Rating)’s share price rose 9.5% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $14.31 and last traded at $14.18. Approximately 1,559 shares changed hands during trading, a decline of 99% from the average daily volume of 129,944 shares. The stock had previously closed at $12.95.

The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Dream Finders Homes had a return on equity of 46.21% and a net margin of 6.84%. The firm had revenue of $793.13 million for the quarter, compared to analysts’ expectations of $683.54 million. During the same period last year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 117.1% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DFH. Bank of America cut Dream Finders Homes from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $18.00 to $10.50 in a report on Friday, June 17th. TheStreet cut Dream Finders Homes from a “c-” rating to a “d” rating in a report on Monday, July 18th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DFH. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Dream Finders Homes in the 4th quarter worth approximately $28,192,000. Cooke & Bieler LP lifted its stake in Dream Finders Homes by 16.6% in the 4th quarter. Cooke & Bieler LP now owns 1,755,755 shares of the company’s stock worth $34,149,000 after purchasing an additional 249,793 shares in the last quarter. Wasatch Advisors Inc. lifted its stake in Dream Finders Homes by 18.2% in the 4th quarter. Wasatch Advisors Inc. now owns 1,177,712 shares of the company’s stock worth $22,906,000 after purchasing an additional 181,426 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Dream Finders Homes by 212.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 127,638 shares of the company’s stock worth $2,180,000 after purchasing an additional 86,754 shares in the last quarter. Finally, Anchor Capital Advisors LLC purchased a new stake in shares of Dream Finders Homes during the 4th quarter valued at approximately $1,640,000. 17.29% of the stock is owned by hedge funds and other institutional investors.

Dream Finders Homes Stock Performance

The stock has a market cap of $1.17 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 0.29 and a beta of 1.24. The company’s 50-day moving average price is $13.01 and its 200 day moving average price is $16.52.

Dream Finders Homes Company Profile

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Dream Finders Homes, Inc operates as a holding company for Dream Finders Holdings LLC that engages in homebuilding business in the United States. It designs, constructs, and sells single-family entry-level, and first-time and second time move-up homes in Charlotte, Raleigh, Jacksonville, Orlando, Denver, the Washington DC metropolitan area, Austin, Dallas, and Houston.