B. Riley Comments on Landsea Homes Co.’s Q2 2024 Earnings (NASDAQ:LSEA)

Landsea Homes Co. (NASDAQ:LSEA) – Equities researchers at B. Riley reduced their Q2 2024 EPS estimates for shares of Landsea Homes in a research report issued on Thursday, May 2nd. B. Riley analyst A. Rygiel now anticipates that the company will earn $0.27 per share for the quarter, down from their prior forecast of $0.31. The consensus estimate for Landsea Homes’ current full-year earnings is $1.40 per share. B. Riley also issued estimates for Landsea Homes’ Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $1.40 EPS and FY2025 earnings at $1.85 EPS.

Landsea Homes (NASDAQ:LSEA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). The firm had revenue of $294.04 million for the quarter, compared to the consensus estimate of $277.30 million. Landsea Homes had a net margin of 2.08% and a return on equity of 6.11%. During the same period last year, the company posted $0.18 earnings per share.

Other equities research analysts also recently issued reports about the stock. Wedbush reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Landsea Homes in a report on Wednesday. Barclays dropped their price target on shares of Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday.

Landsea Homes Stock Down 0.6 %

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

Hedge Funds Weigh In On Landsea Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP purchased a new stake in shares of Landsea Homes in the 1st quarter valued at about $22,136,000. B. Riley Financial Inc. increased its position in shares of Landsea Homes by 498.5% in the third 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 during the last quarter. Acadian Asset Management LLC raised its stake in Landsea Homes by 749.1% in the third 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. Mill Road Capital Management LLC lifted its position in Landsea Homes by 123.2% during the fourth quarter. Mill Road Capital Management LLC now owns 388,224 shares of the company’s stock valued at $5,101,000 after purchasing an additional 214,250 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Landsea Homes in the 1st quarter worth approximately $2,543,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Landsea Homes

In other Landsea Homes news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was 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 in the company, valued at approximately $196,512,456.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Michael Forsum purchased 17,241 shares of Landsea Homes stock in a transaction dated Friday, March 8th. The stock was purchased at an average cost of $11.60 per share, for a total transaction of $199,995.60. Following the transaction, the chief operating officer now directly owns 446,682 shares of the company’s stock, valued at $5,181,511.20. The purchase was disclosed in a document filed with the SEC, which is available at 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 stock was 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 approximately $196,512,456.40. The disclosure for this sale can be found here. In the last three months, insiders have purchased 20,430 shares of company stock worth $236,988. 66.90% of the stock is owned by company insiders.

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.