Landsea Homes (NASDAQ:LSEA) Announces Quarterly Earnings Results

Landsea Homes (NASDAQ:LSEA) posted its quarterly earnings data on Wednesday. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07), Zacks reports. Landsea Homes had a net margin of 2.42% and a return on equity of 6.80%. The firm had revenue of $294.04 million for the quarter, compared to the consensus estimate of $277.30 million. During the same period in the previous year, the firm posted $0.18 earnings per share.

Landsea Homes Trading Down 2.9 %

NASDAQ LSEA traded down $0.29 during trading on Thursday, hitting $9.86. The stock had a trading volume of 250,551 shares, compared to its average volume of 215,420. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37. The stock has a market capitalization of $356.44 million, a price-to-earnings ratio of 12.83 and a beta of 1.11. Landsea Homes has a one year low of $7.00 and a one year high of $14.91. The stock has a 50 day simple moving average of $12.49 and a 200 day simple moving average of $11.52.

Wall Street Analysts Forecast Growth

LSEA has been the topic of a number of analyst reports. Barclays dropped their price target on Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday. Wedbush reiterated an “outperform” rating and set a $16.00 target price on shares of Landsea Homes in a research note on Wednesday.

Insiders Place Their Bets

In other Landsea Homes news, COO Michael Forsum acquired 17,241 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost of $11.60 per share, with a total value of $199,995.60. Following the completion of the acquisition, the chief operating officer now directly owns 446,682 shares in the company, valued at approximately $5,181,511.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Michael Forsum acquired 17,241 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average cost of $11.60 per share, with a total value of $199,995.60. Following the completion of the acquisition, the chief operating officer now directly owns 446,682 shares of the company’s stock, valued at $5,181,511.20. The acquisition was disclosed in a filing with the SEC, 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 of the company’s stock, 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 valued at $236,988 over the last 90 days. Insiders own 66.90% of the company’s stock.

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.