Landsea Homes (NASDAQ:LSEA) Sets New 1-Year High at $14.65

Landsea Homes Co. (NASDAQ:LSEA) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $14.65 and last traded at $14.63, with a volume of 87792 shares traded. The stock had previously closed at $14.07.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Landsea Homes from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 5th. Wedbush reaffirmed an “outperform” rating and set a $16.00 price target on shares of Landsea Homes in a research note on Friday, March 1st.

Landsea Homes Stock Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 2.37 and a quick ratio of 2.37. The company has a market capitalization of $523.40 million, a PE ratio of 18.76 and a beta of 1.04. The firm’s fifty day simple moving average is $12.58 and its 200 day simple moving average is $10.94.

Landsea Homes (NASDAQ:LSEA) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. The business had revenue of $397.62 million during the quarter, compared to the consensus estimate of $323.64 million. Landsea Homes had a net margin of 2.42% and a return on equity of 6.80%. On average, research analysts predict that Landsea Homes Co. will post 1.48 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the company’s stock in a transaction dated 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 owns 16,940,729 shares in the company, valued at approximately $196,512,456.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Landsea Homes news, COO Michael Forsum acquired 17,241 shares of the business’s stock in a transaction on Friday, March 8th. The stock was bought at an average price of $11.60 per share, for a total transaction of $199,995.60. Following the acquisition, the chief operating officer now owns 446,682 shares in the company, valued at $5,181,511.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the stock in a transaction that occurred 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 sale, 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 purchased a total of 20,430 shares of company stock worth $236,988 in the last 90 days. Insiders own 66.90% of the company’s stock.

Institutional Trading of Landsea Homes

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Landsea Homes by 5.1% in the 1st quarter. Bank of New York Mellon Corp now owns 64,414 shares of the company’s stock valued at $551,000 after purchasing an additional 3,107 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Landsea Homes by 72.8% in the 1st quarter. Panagora Asset Management Inc. now owns 35,237 shares of the company’s stock valued at $301,000 after purchasing an additional 14,850 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Landsea Homes in the 1st quarter valued at $210,000. Lazard Asset Management LLC acquired a new stake in shares of Landsea Homes in the 1st quarter valued at $89,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Landsea Homes by 26.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,311 shares of the company’s stock valued at $268,000 after purchasing an additional 6,542 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

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.