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

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

Analyst Upgrades and Downgrades

LSEA has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Landsea Homes from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 5th. Wedbush reissued an “outperform” rating and set a $16.00 price objective on shares of Landsea Homes in a research note on Friday, March 1st.

Landsea Homes Price Performance

The firm has a fifty day moving average price of $12.58 and a two-hundred day moving average price of $10.94. The stock has a market capitalization of $523.40 million, a P/E ratio of 18.76 and a beta of 1.04. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.34.

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

Insider Activity

In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Michael Forsum acquired 17,241 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of $11.60 per share, with a total value of $199,995.60. Following the completion of the acquisition, the chief operating officer now owns 446,682 shares of the company’s stock, valued at $5,181,511.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $11.60, for a total value of $32,480,000.00. Following the completion of the transaction, the insider now directly owns 16,940,729 shares in the company, valued at $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 ninety days. Corporate insiders own 66.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. UBS Group AG boosted its position in Landsea Homes by 11.2% during the fourth quarter. UBS Group AG now owns 17,929 shares of the company’s stock worth $236,000 after purchasing an additional 1,800 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Landsea Homes by 18.6% during the 4th quarter. Hsbc Holdings PLC now owns 12,640 shares of the company’s stock worth $168,000 after purchasing an additional 1,978 shares during the last quarter. Barclays PLC raised its stake in shares of Landsea Homes by 12.3% in the 4th quarter. Barclays PLC now owns 19,456 shares of the company’s stock valued at $101,000 after acquiring an additional 2,137 shares during the period. Bank of America Corp DE boosted its position in shares of Landsea Homes by 42.6% during the 4th quarter. Bank of America Corp DE now owns 7,529 shares of the company’s stock worth $39,000 after purchasing an additional 2,248 shares during the period. Finally, FMR LLC increased its holdings in Landsea Homes by 295.9% in the 3rd quarter. FMR LLC now owns 3,195 shares of the company’s stock valued at $29,000 after purchasing an additional 2,388 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.