Landsea Homes Co. (NASDAQ:LSEA) Sees Large Drop in Short Interest

Landsea Homes Co. (NASDAQ:LSEA) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 363,900 shares, a decline of 11.5% from the October 15th total of 411,000 shares. Based on an average daily volume of 221,000 shares, the short-interest ratio is presently 1.6 days. Approximately 2.5% of the shares of the stock are sold short.

Landsea Homes Price Performance

NASDAQ LSEA opened at $9.69 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $366.19 million, a PE ratio of 9.32 and a beta of 0.77. The company has a 50 day moving average price of $8.45 and a two-hundred day moving average price of $8.71. Landsea Homes has a 12-month low of $7.00 and a 12-month high of $9.88.

Analyst Ratings Changes

LSEA has been the topic of several analyst reports. B. Riley reissued a “buy” rating on shares of Landsea Homes in a research report on Friday, November 3rd. Barclays dropped their target price on shares of Landsea Homes from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 12th. Finally, Wedbush reissued an “outperform” rating and issued a $16.00 target price on shares of Landsea Homes in a research report on Tuesday, August 1st.

Institutional Trading of Landsea Homes

A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Landsea Homes in the third quarter worth $294,000. Sei Investments Co. lifted its stake in shares of Landsea Homes by 18.0% in the third quarter. Sei Investments Co. now owns 122,740 shares of the company’s stock worth $1,103,000 after buying an additional 18,759 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Landsea Homes in the third quarter worth $4,074,000. III Capital Management acquired a new stake in shares of Landsea Homes in the third quarter worth $729,000. Finally, Quadrature Capital Ltd lifted its stake in shares of Landsea Homes by 85.2% in the third quarter. Quadrature Capital Ltd now owns 56,193 shares of the company’s stock worth $505,000 after buying an additional 25,852 shares during the last quarter. 13.83% of the stock is currently owned by institutional investors and hedge funds.

About Landsea Homes

Landsea Homes Corporation (Nasdaq: LSEA) is a publicly traded residential homebuilder based in Dallas, Texas that designs and builds best-in-class homes and sustainable master-planned communities in some of the nation's most desirable markets. The company has developed homes and communities in New York, Boston, New Jersey, Arizona, Florida, Texas and throughout California in Silicon Valley, Los Angeles and Orange County.