Landsea Homes (NASDAQ:LSEA) Sets New 12-Month High at $14.65

Landsea Homes Co. (NASDAQ:LSEA) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $14.65 and last traded at $14.63, with a volume of 87792 shares traded. The stock had previously closed at $14.07.

Wall Street Analysts Forecast Growth

LSEA has been the subject of several recent research reports. Barclays lifted their price target on Landsea Homes from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 5th. Wedbush reaffirmed an “outperform” rating and set a $16.00 price target on shares of Landsea Homes in a research note on Friday, March 1st.

Landsea Homes Stock Performance

The business has a 50-day moving average price of $12.58 and a 200-day moving average price of $10.94. The firm has a market capitalization of $523.40 million, a price-to-earnings ratio of 18.76 and a beta of 1.04. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.34.

Landsea Homes (NASDAQ:LSEA) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.34 by $0.09. Landsea Homes had a net margin of 2.42% and a return on equity of 6.80%. The company had revenue of $397.62 million for the quarter, compared to analyst estimates of $323.64 million. As a group, sell-side analysts forecast that Landsea Homes Co. will post 1.48 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Michael Forsum purchased 17,241 shares of Landsea Homes stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average price 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 in the company, valued at $5,181,511.20. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the stock in a transaction that occurred 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 completion of 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 SEC, which is accessible through this link. Also, COO Michael Forsum purchased 17,241 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was purchased at an average cost of $11.60 per share, with a total value of $199,995.60. Following the purchase, the chief operating officer now owns 446,682 shares in the company, valued at $5,181,511.20. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 20,430 shares of company stock worth $236,988. Company insiders own 66.90% of the company’s stock.

Institutional Trading of Landsea Homes

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Landsea Homes by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 64,414 shares of the company’s stock worth $551,000 after purchasing an additional 3,107 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of Landsea Homes by 72.8% in the 1st quarter. Panagora Asset Management Inc. now owns 35,237 shares of the company’s stock valued at $301,000 after purchasing an additional 14,850 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Landsea Homes in the 1st quarter valued at $210,000. Lazard Asset Management LLC acquired a new stake in shares of Landsea Homes in the 1st quarter valued at $89,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Landsea Homes by 26.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,311 shares of the company’s stock valued at $268,000 after purchasing an additional 6,542 shares in the last quarter. Hedge funds and other institutional investors own 82.99% 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.