Lennar Target of Unusually High Options Trading (NYSE:LEN)
Lennar Co. (NYSE:LEN) was the recipient of some unusual options trading on Thursday. Stock investors purchased 22,818 call options on the stock. This represents an increase of approximately 1,912% compared to the typical daily volume of 1,134 call options.
Several equities analysts have issued reports on LEN shares. Zacks Investment Research cut Lennar from a “hold” rating to a “sell” rating and set a $53.00 target price on the stock. in a research report on Thursday, May 30th. BTIG Research set a $65.00 target price on Lennar and gave the stock a “buy” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. dropped their target price on Lennar from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 26th. Wedbush set a $62.00 target price on Lennar and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Bank of America dropped their target price on Lennar from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $57.10.
Shares of LEN traded down $0.96 on Friday, reaching $53.62. The stock had a trading volume of 5,017,922 shares, compared to its average volume of 3,420,915. The firm has a market capitalization of $17.58 billion, a PE ratio of 8.44, a PEG ratio of 1.17 and a beta of 1.09. The company has a quick ratio of 0.79, a current ratio of 13.93 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $50.00 and a 200 day moving average of $50.12. Lennar has a twelve month low of $37.29 and a twelve month high of $55.00.
In related news, President Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $49.04, for a total value of $980,800.00. Following the transaction, the president now owns 346,946 shares in the company, valued at approximately $17,014,231.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.43% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Lennar by 33.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 117,462 shares of the construction company’s stock valued at $5,692,000 after buying an additional 29,733 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Lennar in the 2nd quarter valued at approximately $213,000. Toronto Dominion Bank lifted its stake in Lennar by 102.5% in the 2nd quarter. Toronto Dominion Bank now owns 424,358 shares of the construction company’s stock valued at $20,566,000 after buying an additional 214,809 shares in the last quarter. Atria Investments LLC lifted its stake in Lennar by 8.6% in the 2nd quarter. Atria Investments LLC now owns 5,666 shares of the construction company’s stock valued at $282,000 after buying an additional 447 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its stake in Lennar by 18.3% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 6,367 shares of the construction company’s stock valued at $309,000 after buying an additional 983 shares in the last quarter. Institutional investors and hedge funds own 83.93% of the company’s stock.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
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