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

Wedbush reaffirmed their outperform rating on shares of Landsea Homes (NASDAQ:LSEA) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $16.00 price target on the stock.

Separately, Barclays raised their price target 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 Stock Performance

Shares of LSEA stock opened at $9.78 on Wednesday. The business has a fifty day moving average of $12.42 and a 200 day moving average of $11.52. Landsea Homes has a 1 year low of $7.00 and a 1 year high of $14.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.37 and a quick ratio of 2.37. The firm has a market capitalization of $353.55 million, a price-to-earnings ratio of 14.38 and a beta of 1.11.

Landsea Homes (NASDAQ:LSEA) last released its earnings results 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 firm had revenue of $294.04 million for the quarter, compared to analyst estimates of $277.30 million. During the same period last year, the firm earned $0.18 EPS. As a group, research analysts expect that Landsea Homes will post 1.4 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 16,940,729 shares of the company’s stock, valued at approximately $196,512,456.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Landsea Homes news, COO Michael Forsum bought 17,241 shares of the business’s stock in a transaction on Friday, March 8th. The stock was bought at an average price of $11.60 per share, with a total value of $199,995.60. Following the completion of the purchase, the chief operating officer now directly owns 446,682 shares in the company, valued at $5,181,511.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the company’s 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 directly owns 16,940,729 shares in the company, valued at approximately $196,512,456.40. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 20,430 shares of company stock worth $236,988. 66.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Landsea Homes

A number of institutional investors have recently modified their holdings of the company. Wasatch Advisors LP acquired a new position in shares of Landsea Homes in the first quarter worth $22,136,000. B. Riley Financial Inc. grew its stake in Landsea Homes by 498.5% during the 3rd quarter. B. Riley Financial Inc. now owns 866,850 shares of the company’s stock worth $7,793,000 after purchasing an additional 722,008 shares in the last quarter. Foundry Partners LLC increased its holdings in Landsea Homes by 26.8% during the 3rd 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 period. Acadian Asset Management LLC raised its position in Landsea Homes by 749.1% in the 3rd quarter. Acadian Asset Management LLC now owns 463,913 shares of the company’s stock valued at $4,168,000 after purchasing an additional 409,278 shares in the last quarter. Finally, Mill Road Capital Management LLC boosted its stake in shares of Landsea Homes by 123.2% in 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 period. 82.99% of the stock is owned by institutional investors and hedge funds.

Landsea Homes Company Profile

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.