Dream Finders Homes (NASDAQ:DFH) Shares Gap Down Following Weak Earnings

Dream Finders Homes, Inc. (NASDAQ:DFH)’s share price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $35.66, but opened at $33.01. Dream Finders Homes shares last traded at $32.03, with a volume of 144,955 shares changing hands.

The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.11). The business had revenue of $827.80 million during the quarter, compared to analyst estimates of $886.34 million. Dream Finders Homes had a net margin of 7.89% and a return on equity of 36.62%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wedbush reiterated a “neutral” rating and issued a $24.00 price target on shares of Dream Finders Homes in a research report on Thursday. TheStreet raised shares of Dream Finders Homes from a “c” rating to a “b” rating in a research note on Friday, March 1st. Finally, Bank of America lifted their target price on shares of Dream Finders Homes from $29.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd.

Insider Buying and Selling

In other news, CEO Patrick O. Zalupski sold 27,478 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $30.91, for a total transaction of $849,344.98. Following the sale, the chief executive officer now directly owns 1,660,407 shares of the company’s stock, valued at $51,323,180.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Patrick O. Zalupski sold 27,478 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $30.91, for a total value of $849,344.98. Following the transaction, the chief executive officer now owns 1,660,407 shares in the company, valued at $51,323,180.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick O. Zalupski sold 24,400 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $31.59, for a total value of $770,796.00. Following the sale, the chief executive officer now directly owns 1,615,376 shares of the company’s stock, valued at $51,029,727.84. The disclosure for this sale can be found here. Insiders have sold a total of 277,812 shares of company stock worth $10,552,415 in the last 90 days. Corporate insiders own 70.45% of the company’s stock.

Hedge Funds Weigh In On Dream Finders Homes

Several hedge funds have recently added to or reduced their stakes in DFH. Naples Money Management LLC acquired a new position in shares of Dream Finders Homes during the 1st quarter worth about $25,000. Benjamin F. Edwards & Company Inc. raised its holdings in Dream Finders Homes by 926.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,222 shares of the company’s stock worth $54,000 after purchasing an additional 1,103 shares during the period. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Dream Finders Homes during the fourth quarter worth $46,000. Avalon Trust Co acquired a new position in shares of Dream Finders Homes in the 4th quarter valued at $48,000. Finally, Global Retirement Partners LLC increased its position in shares of Dream Finders Homes by 1,000.0% in the 1st quarter. Global Retirement Partners LLC now owns 2,200 shares of the company’s stock valued at $96,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 95.55% of the company’s stock.

Dream Finders Homes Trading Down 3.3 %

The company has a 50 day moving average of $38.29 and a 200 day moving average of $32.00. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 0.96 and a beta of 2.05.

Dream Finders Homes Company Profile

Dream Finders Homes, Inc operates as a holding company for Dream Finders Homes LLC that engages in homebuilding business in the United States. The company operates through four segments: Southeast, Mid-Atlantic, Midwest, and Financial Services. It designs, constructs, and sells single-family entry-level, and first-time and second time move-up homes, as well as active adult homes and custom homes in Florida, Texas, Tennessee, North Carolina, South Carolina, Georgia, Colorado, and the Washington, DC metropolitan area.