Acadian Asset Management LLC Acquires 118,802 Shares of Landsea Homes Co. (NASDAQ:LSEA)

Acadian Asset Management LLC lifted its holdings in Landsea Homes Co. (NASDAQ:LSEA) by 20.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 701,711 shares of the company’s stock after acquiring an additional 118,802 shares during the period. Acadian Asset Management LLC owned approximately 1.94% of Landsea Homes worth $10,191,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. AJOVista LLC acquired a new position in Landsea Homes in the 4th quarter valued at $64,000. Quarry LP acquired a new position in Landsea Homes in the fourth quarter valued at about $90,000. LSV Asset Management bought a new stake in Landsea Homes during the fourth quarter worth about $135,000. New York State Common Retirement Fund grew its stake in Landsea Homes by 3,727.9% during the fourth 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 in the last quarter. Finally, SG Americas Securities LLC bought a new position in Landsea Homes in the 4th quarter valued at about $148,000. 82.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Holdings Corp Landsea sold 4,100,000 shares of Landsea Homes stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $6.00, for a total transaction of $24,600,000.00. Following the sale, the insider now directly owns 12,840,729 shares of the company’s stock, valued at $77,044,374. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Landsea Homes news, major shareholder Holdings Corp Landsea sold 4,100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $6.00, for a total value of $24,600,000.00. Following the completion of the transaction, the insider now directly owns 12,840,729 shares in the company, valued at approximately $77,044,374. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ming Tian sold 450,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $9.53, for a total transaction of $4,288,500.00. Following the transaction, the director now directly owns 12,290,729 shares of the company’s stock, valued at approximately $117,130,647.37. The disclosure for this sale can be found here. Insiders sold a total of 4,567,162 shares of company stock valued at $29,057,772 in the last 90 days. Corporate insiders own 51.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LSEA. Barclays cut their price target on shares of Landsea Homes from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Oppenheimer started coverage on Landsea Homes in a research note on Friday, May 31st. They set an “outperform” rating and a $14.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $16.00 price target on shares of Landsea Homes in a research note on Wednesday, May 1st.

Landsea Homes Price Performance

Shares of Landsea Homes stock traded up $0.13 during midday trading on Friday, hitting $11.29. 133,395 shares of the company traded hands, compared to its average volume of 199,923. The stock has a market cap of $408.46 million, a price-to-earnings ratio of 16.60, a PEG ratio of 0.77 and a beta of 1.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.13 and a current ratio of 2.13. The firm’s fifty day moving average price is $9.77 and its 200-day moving average price is $11.37. Landsea Homes Co. has a 12 month low of $7.00 and a 12 month high of $14.91.

Landsea Homes (NASDAQ:LSEA) last posted its earnings results on Wednesday, May 1st. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Landsea Homes had a return on equity of 6.17% and a net margin of 2.08%. The company had revenue of $294.04 million for the quarter, compared to the consensus estimate of $277.30 million. During the same period in the previous year, the firm posted $0.18 EPS. As a group, sell-side analysts forecast that Landsea Homes Co. will post 1.47 earnings per share for the current year.

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.