Landsea Homes (NASDAQ:LSEA) Rating Reiterated by Wedbush

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

Separately, Barclays raised their target price on 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 Price Performance

Shares of LSEA opened at $9.78 on Wednesday. The business’s 50-day moving average is $12.42 and its two-hundred day moving average is $11.52. The company has a market capitalization of $353.55 million, a P/E ratio of 14.38 and a beta of 1.11. Landsea Homes has a fifty-two week low of $7.00 and a fifty-two week high of $14.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37.

Landsea Homes (NASDAQ:LSEA) last posted its earnings results on Wednesday, May 1st. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). Landsea Homes had a return on equity of 6.11% and a net margin of 2.08%. The company had revenue of $294.04 million for the quarter, compared to analyst estimates of $277.30 million. During the same period last year, the business earned $0.18 earnings per share. Research analysts predict that Landsea Homes will post 1.4 earnings per share for the current year.

Insider Activity

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 shares were sold at an average price of $11.60, for a total transaction of $32,480,000.00. Following the sale, the insider now directly owns 16,940,729 shares of the company’s stock, valued at approximately $196,512,456.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Landsea Homes news, COO Michael Forsum purchased 17,241 shares of the stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $11.60 per share, for a total transaction of $199,995.60. Following the completion of the acquisition, the chief operating officer now owns 446,682 shares of the company’s stock, valued at approximately $5,181,511.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 16,940,729 shares in the company, valued at $196,512,456.40. The disclosure for this sale can be found here. Insiders bought a total of 20,430 shares of company stock worth $236,988 over the last 90 days. 66.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Byrne Asset Management LLC acquired a new stake in Landsea Homes during the third quarter valued at approximately $26,000. AJOVista LLC bought a new position in Landsea Homes in the fourth quarter valued at approximately $64,000. Bank of New York Mellon Corp grew its holdings in Landsea Homes by 4.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 128,206 shares of the company’s stock worth $1,153,000 after acquiring an additional 5,721 shares during the period. Quarry LP acquired a new stake in shares of Landsea Homes during the fourth quarter worth $90,000. Finally, LSV Asset Management bought a new position in Landsea Homes during the fourth quarter worth about $135,000. Institutional investors own 82.99% of the company’s stock.

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.