Insider Selling: Landsea Homes Co. (NASDAQ:LSEA) CEO Sells 4,838,710 Shares of Stock

Landsea Homes Co. (NASDAQ:LSEA – Get Rating) CEO Holdings Corp Landsea sold 4,838,710 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $9.30, for a total value of $45,000,003.00. Following the sale, the chief executive officer now owns 28,039,555 shares of the company’s stock, valued at approximately $260,767,861.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NASDAQ LSEA traded up $0.11 during trading on Thursday, hitting $7.76. The company had a trading volume of 2,193 shares, compared to its average volume of 74,273. The business’s 50-day moving average is $8.13 and its 200 day moving average is $7.71. Landsea Homes Co. has a 52 week low of $6.19 and a 52 week high of $9.44. The company has a market cap of $351.68 million, a P/E ratio of 4.87 and a beta of 0.25.

Landsea Homes (NASDAQ:LSEA – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.47. The firm had revenue of $316.23 million during the quarter, compared to analyst estimates of $241.32 million. Landsea Homes had a net margin of 6.18% and a return on equity of 15.82%. During the same quarter in the prior year, the business posted $0.03 earnings per share. As a group, equities research analysts expect that Landsea Homes Co. will post 2.68 earnings per share for the current fiscal year.

LSEA has been the topic of a number of recent research reports. B. Riley lowered their price objective on Landsea Homes from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 6th. Barclays cut their price target on Landsea Homes from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 29th. Finally, Zacks Investment Research cut Landsea Homes from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 12th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley acquired a new position in shares of Landsea Homes during the 1st quarter worth about $26,000. EverSource Wealth Advisors LLC bought a new stake in shares of Landsea Homes during the 4th quarter worth approximately $29,000. Allspring Global Investments Holdings LLC acquired a new position in Landsea Homes during the 1st quarter worth approximately $36,000. Royal Bank of Canada increased its position in Landsea Homes by 63.3% during the 3rd quarter. Royal Bank of Canada now owns 4,297 shares of the company’s stock worth $37,000 after purchasing an additional 1,665 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Landsea Homes by 553.4% in the 4th quarter. Wells Fargo & Company MN now owns 5,992 shares of the company’s stock valued at $44,000 after acquiring an additional 5,075 shares during the period. 22.17% of the stock is currently owned by institutional investors.

About Landsea Homes (Get Rating)

Landsea Homes Corporation designs, constructs, markets, and sells suburban and urban single-family detached and attached homes in California, Arizona, Florida, Texas, and Metro New York. It offers a range of properties, including entry-level and first-time move-up homes. The company was incorporated in 2017 and is headquartered in Newport Beach, California.

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