Landsea Homes (NASDAQ:LSEA) Price Target Cut to $11.00

Landsea Homes (NASDAQ:LSEA) had its price objective reduced by Barclays from $14.00 to $11.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 13.75% from the company’s current price.

Separately, Wedbush reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Landsea Homes in a research note on Wednesday.

Landsea Homes Price Performance

Shares of Landsea Homes stock traded down $0.48 during trading on Thursday, reaching $9.67. The company’s stock had a trading volume of 172,296 shares, compared to its average volume of 214,910. The stock has a 50-day moving average price of $12.49 and a two-hundred day moving average price of $11.52. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.34. Landsea Homes has a one year low of $7.00 and a one year high of $14.91. The stock has a market capitalization of $349.57 million, a P/E ratio of 12.83 and a beta of 1.11.

Landsea Homes (NASDAQ:LSEA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Landsea Homes had a net margin of 2.42% and a return on equity of 6.80%. The business had revenue of $294.04 million during the quarter, compared to the consensus estimate of $277.30 million. During the same period in the prior year, the firm earned $0.18 earnings per share. As a group, sell-side analysts anticipate that Landsea Homes will post 1.48 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of Landsea Homes stock in a transaction on Friday, March 8th. The stock was sold at an average price of $11.60, for a total transaction of $32,480,000.00. Following the completion of the sale, the insider now directly owns 16,940,729 shares of the company’s stock, valued at $196,512,456.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Michael Forsum bought 17,241 shares of the business’s stock in a transaction on Friday, March 8th. The shares were 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $11.60, for a total transaction of $32,480,000.00. Following the completion of the transaction, the insider now directly owns 16,940,729 shares of the company’s stock, valued at approximately $196,512,456.40. The disclosure for this sale can be found here. Insiders have purchased a total of 20,430 shares of company stock valued at $236,988 in the last 90 days. 66.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LSEA. Byrne Asset Management LLC bought a new stake in Landsea Homes during the third quarter worth about $26,000. AJOVista LLC purchased a new position in Landsea Homes during the fourth quarter worth about $64,000. Quarry LP bought a new stake in Landsea Homes in the 4th quarter worth about $90,000. LSV Asset Management purchased a new position in shares of Landsea Homes in the 4th quarter worth approximately $135,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Landsea Homes by 3,727.9% in the 4th quarter. New York State Common Retirement Fund now owns 10,718 shares of the company’s stock worth $141,000 after buying an additional 10,438 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

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.