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

Landsea Homes (NASDAQ:LSEA) had its price objective lowered by Barclays from $14.00 to $11.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

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

Landsea Homes Trading Down 0.6 %

LSEA stock traded down $0.06 on Thursday, hitting $9.78. 250,818 shares of the company were exchanged, compared to its average volume of 208,105. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.37 and a quick ratio of 2.37. The stock has a market capitalization of $353.55 million, a price-to-earnings ratio of 14.38 and a beta of 1.11. Landsea Homes has a twelve month low of $7.00 and a twelve month high of $14.91. The business’s fifty day moving average is $12.42 and its two-hundred day moving average is $11.52.

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

Insider Activity at Landsea Homes

In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 16,940,729 shares in the company, valued at approximately $196,512,456.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Michael Forsum bought 17,241 shares of Landsea Homes stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of $11.60 per share, with a total value of $199,995.60. Following the completion of the transaction, the chief operating officer now owns 446,682 shares in the company, valued at approximately $5,181,511.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the company’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 completion of 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. In the last 90 days, insiders have acquired 20,430 shares of company stock worth $236,988. 66.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Landsea Homes

Institutional investors have recently added to or reduced their stakes in the company. Byrne Asset Management LLC purchased a new stake in shares of Landsea Homes during the third quarter worth about $26,000. AJOVista LLC acquired a new stake in Landsea Homes during the 4th quarter valued at approximately $64,000. Bank of New York Mellon Corp increased 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 purchasing an additional 5,721 shares during the last quarter. Quarry LP acquired a new position in shares of Landsea Homes in the 4th quarter valued at approximately $90,000. Finally, LSV Asset Management purchased a new position in shares of Landsea Homes during the 4th quarter valued at approximately $135,000. Institutional investors and hedge funds 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.