Dream Finders Homes (NASDAQ:DFH) Shares Gap Down After Earnings Miss

Dream Finders Homes, Inc. (NASDAQ:DFH) shares gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $35.66, but opened at $33.01. Dream Finders Homes shares last traded at $32.03, with a volume of 144,955 shares traded.

The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.11). The business had revenue of $827.80 million during the quarter, compared to the consensus estimate of $886.34 million. Dream Finders Homes had a return on equity of 36.62% and a net margin of 7.89%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DFH shares. TheStreet upgraded shares of Dream Finders Homes from a “c” rating to a “b” rating in a report on Friday, March 1st. Bank of America raised their target price on Dream Finders Homes from $29.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Wedbush reissued a “neutral” rating and issued a $24.00 price objective on shares of Dream Finders Homes in a research note on Thursday.

Insider Activity

In other Dream Finders Homes news, CEO Patrick O. Zalupski sold 24,400 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $31.59, for a total transaction of $770,796.00. Following the completion of the sale, the chief executive officer now directly owns 1,615,376 shares of the company’s stock, valued at approximately $51,029,727.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dream Finders Homes news, CEO Patrick O. Zalupski sold 24,400 shares of Dream Finders Homes stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $31.59, for a total transaction of $770,796.00. Following the transaction, the chief executive officer now directly owns 1,615,376 shares of the company’s stock, valued at approximately $51,029,727.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Radford Lovett II sold 35,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $41.07, for a total transaction of $1,437,450.00. Following the completion of the sale, the director now owns 4,980,883 shares of the company’s stock, valued at approximately $204,564,864.81. The disclosure for this sale can be found here. Insiders sold 277,812 shares of company stock worth $10,552,415 over the last three months. 70.45% of the stock is currently owned by insiders.

Institutional Trading of Dream Finders Homes

A number of institutional investors and hedge funds have recently modified their holdings of DFH. Naples Money Management LLC purchased a new position in shares of Dream Finders Homes in the 1st quarter worth about $25,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Dream Finders Homes in the fourth quarter valued at about $46,000. Avalon Trust Co purchased a new stake in shares of Dream Finders Homes during the 4th quarter worth approximately $48,000. Benjamin F. Edwards & Company Inc. lifted its stake in Dream Finders Homes by 926.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,222 shares of the company’s stock valued at $54,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Dream Finders Homes by 51.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,801 shares of the company’s stock worth $84,000 after buying an additional 1,295 shares during the last quarter. 95.55% of the stock is owned by hedge funds and other institutional investors.

Dream Finders Homes Price Performance

The company has a 50 day simple moving average of $38.29 and a 200-day simple moving average of $32.00. The stock has a market capitalization of $2.91 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 0.96 and a beta of 2.05.

Dream Finders Homes Company Profile

Dream Finders Homes, Inc operates as a holding company for Dream Finders Homes LLC that engages in homebuilding business in the United States. The company operates through four segments: Southeast, Mid-Atlantic, Midwest, and Financial Services. It designs, constructs, and sells single-family entry-level, and first-time and second time move-up homes, as well as active adult homes and custom homes in Florida, Texas, Tennessee, North Carolina, South Carolina, Georgia, Colorado, and the Washington, DC metropolitan area.