Landsea Homes (NASDAQ:LSEA) Price Target Lowered to $11.00 at Barclays

Landsea Homes (NASDAQ:LSEA) had its price objective cut by Barclays from $14.00 to $11.00 in a report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Wedbush restated an outperform rating and set a $16.00 target price on shares of Landsea Homes in a research report on Wednesday.

Landsea Homes Stock Performance

NASDAQ:LSEA traded down $0.06 during trading hours on Thursday, reaching $9.78. The company had a trading volume of 250,818 shares, compared to its average volume of 208,105. The firm has a market cap of $353.55 million, a PE ratio of 14.38 and a beta of 1.11. Landsea Homes has a 1-year low of $7.00 and a 1-year high of $14.91. The business’s 50 day moving average price is $12.42 and its 200-day moving average price is $11.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.37 and a quick ratio of 2.37.

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

Insider Transactions at Landsea Homes

In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of Landsea Homes 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 sale, the insider now 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 this hyperlink. In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of Landsea Homes 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 sale, the insider now directly owns 16,940,729 shares in the company, valued at approximately $196,512,456.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael Forsum bought 17,241 shares of Landsea Homes stock in a transaction on 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 acquisition, the chief operating officer now directly owns 446,682 shares of the company’s stock, valued at $5,181,511.20. The disclosure for this purchase can be found here. Insiders acquired a total of 20,430 shares of company stock valued at $236,988 in the last three months. 66.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Landsea Homes

A number of hedge funds have recently modified their holdings of LSEA. Wasatch Advisors LP acquired a new stake in Landsea Homes in the 1st quarter valued at about $22,136,000. B. Riley Financial Inc. increased its holdings 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 valued at $7,793,000 after purchasing an additional 722,008 shares during the last quarter. Foundry Partners LLC lifted its position in Landsea Homes by 26.8% during the third quarter. Foundry Partners LLC now owns 484,355 shares of the company’s stock worth $4,354,000 after buying an additional 102,279 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Landsea Homes by 749.1% during the third quarter. Acadian Asset Management LLC now owns 463,913 shares of the company’s stock worth $4,168,000 after buying an additional 409,278 shares during the last quarter. Finally, Mill Road Capital Management LLC grew its holdings in 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 in the last quarter. 82.99% of the stock is currently 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.