Wedbush Reaffirms “Outperform” Rating for Landsea Homes (NASDAQ:LSEA)

Wedbush reaffirmed their outperform rating on shares of Landsea Homes (NASDAQ:LSEA) in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a $16.00 target price on the stock.

Separately, Barclays increased their target price on Landsea Homes from $13.00 to $14.00 and gave the company an equal weight rating in a research note on Tuesday, March 5th.

Landsea Homes Stock Down 0.6 %

Shares of NASDAQ:LSEA opened at $9.78 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37. The firm has a market capitalization of $353.55 million, a P/E ratio of 14.38 and a beta of 1.11. The stock has a 50 day moving average price of $12.46 and a 200-day moving average price of $11.50. Landsea Homes has a 52-week low of $7.00 and a 52-week high of $14.91.

Landsea Homes (NASDAQ:LSEA) last issued its earnings results on Wednesday, May 1st. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). Landsea Homes had a net margin of 2.08% and a return on equity of 6.11%. The business had revenue of $294.04 million for the quarter, compared to analysts’ expectations of $277.30 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. As a group, equities research analysts anticipate that Landsea Homes will post 1.48 EPS for the current fiscal year.

Insider Transactions at Landsea Homes

In other news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the firm’s 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 transaction, the insider now directly owns 16,940,729 shares in the company, valued at approximately $196,512,456.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the firm’s 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 transaction, the insider now directly owns 16,940,729 shares of the company’s stock, valued at approximately $196,512,456.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Michael Forsum bought 17,241 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average cost of $11.60 per share, for a total transaction of $199,995.60. Following the completion of the acquisition, the chief operating officer now owns 446,682 shares in the company, valued at approximately $5,181,511.20. The disclosure for this purchase can be found here. Insiders have bought a total of 20,430 shares of company stock worth $236,988 in the last ninety days. Insiders own 66.90% of the company’s stock.

Hedge Funds Weigh In On Landsea Homes

A number of institutional investors have recently bought and sold shares of LSEA. Wasatch Advisors LP bought a new position in Landsea Homes in the 1st quarter worth $22,136,000. B. Riley Financial Inc. lifted its position in shares of Landsea Homes by 498.5% in the third quarter. B. Riley Financial Inc. now owns 866,850 shares of the company’s stock valued at $7,793,000 after acquiring an additional 722,008 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Landsea Homes by 749.1% in the third quarter. Acadian Asset Management LLC now owns 463,913 shares of the company’s stock valued at $4,168,000 after acquiring an additional 409,278 shares in the last quarter. Mill Road Capital Management LLC boosted its stake in shares of Landsea Homes by 123.2% in the fourth quarter. Mill Road Capital Management LLC now owns 388,224 shares of the company’s stock worth $5,101,000 after acquiring an additional 214,250 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Landsea Homes during the first quarter worth about $2,543,000. 82.99% of the stock is owned by institutional investors.

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.