Connor Clark & Lunn Investment Management Ltd. Acquires 53,619 Shares of Landsea Homes Co. (NASDAQ:LSEA)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Landsea Homes Co. (NASDAQ:LSEA) by 56.2% during the 3rd quarter, Holdings Channel reports. The fund owned 149,032 shares of the company’s stock after purchasing an additional 53,619 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Landsea Homes were worth $1,841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LSEA. Gladius Capital Management LP purchased a new stake in shares of Landsea Homes during the 3rd quarter worth $32,000. Signaturefd LLC bought a new position in Landsea Homes in the second quarter worth about $28,000. Point72 Asset Management L.P. purchased a new stake in shares of Landsea Homes during the second quarter valued at about $31,000. Byrne Asset Management LLC bought a new stake in shares of Landsea Homes in the 2nd quarter valued at about $32,000. Finally, SG Americas Securities LLC purchased a new position in shares of Landsea Homes in the 3rd quarter worth approximately $125,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Thomas Hartfield sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $10.62, for a total value of $53,100.00. Following the completion of the transaction, the director now directly owns 59,181 shares in the company, valued at $628,502.22. This trade represents a 7.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 51.00% of the stock is currently owned by insiders.

Landsea Homes Trading Up 7.0 %

NASDAQ:LSEA opened at $11.70 on Tuesday. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $11.59 and a 200-day simple moving average of $10.95. Landsea Homes Co. has a 12 month low of $8.28 and a 12 month high of $14.91. The company has a market capitalization of $424.48 million, a P/E ratio of 16.25, a PEG ratio of 0.78 and a beta of 1.13.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays increased their target price on shares of Landsea Homes from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Oppenheimer raised their price objective on Landsea Homes from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. B. Riley reaffirmed a “buy” rating and set a $18.00 target price (up from $17.00) on shares of Landsea Homes in a research report on Tuesday, November 5th. Finally, Wedbush raised their price target on Landsea Homes from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd.

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.