Public Employees Retirement System of Ohio Makes New $294,000 Investment in Landsea Homes Co. (NASDAQ:LSEA)

Public Employees Retirement System of Ohio purchased a new position in shares of Landsea Homes Co. (NASDAQ:LSEA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,720 shares of the company’s stock, valued at approximately $294,000. Public Employees Retirement System of Ohio owned about 0.09% of Landsea Homes at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Byrne Asset Management LLC purchased a new stake in Landsea Homes during the 3rd quarter worth about $26,000. FMR LLC grew its stake in Landsea Homes by 295.9% during the 3rd quarter. FMR LLC now owns 3,195 shares of the company’s stock worth $29,000 after buying an additional 2,388 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Landsea Homes by 255.1% during the third quarter. Tower Research Capital LLC TRC now owns 3,682 shares of the company’s stock worth $33,000 after acquiring an additional 2,645 shares during the last quarter. Bank of America Corp DE grew its position in shares of Landsea Homes by 42.6% during the fourth quarter. Bank of America Corp DE now owns 7,529 shares of the company’s stock worth $39,000 after acquiring an additional 2,248 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of Landsea Homes by 20,176.2% during the second quarter. Citigroup Inc. now owns 4,258 shares of the company’s stock worth $40,000 after acquiring an additional 4,237 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Landsea Homes

In other Landsea Homes news, COO Michael Forsum bought 17,241 shares of Landsea Homes stock in a transaction on Friday, March 8th. The stock was bought at an average price 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 in the company, valued at $5,181,511.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Michael Forsum purchased 17,241 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was acquired at an average price of $11.60 per share, with a total value of $199,995.60. Following the purchase, the chief operating officer now directly owns 446,682 shares of the company’s stock, valued at approximately $5,181,511.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 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 disclosure for this sale can be found here. Over the last quarter, insiders acquired 20,430 shares of company stock valued at $236,988. 66.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LSEA. Barclays raised their target price on shares of Landsea Homes from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 5th. Wedbush restated an “outperform” rating and set a $16.00 target price on shares of Landsea Homes in a research report on Friday, March 1st.

Landsea Homes Stock Performance

NASDAQ:LSEA opened at $14.07 on Thursday. The firm’s fifty day moving average price is $12.58 and its 200 day moving average price is $10.94. Landsea Homes Co. has a 1-year low of $7.00 and a 1-year high of $14.23. 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 firm has a market cap of $506.80 million, a price-to-earnings ratio of 18.76 and a beta of 1.04.

Landsea Homes (NASDAQ:LSEA) last released its earnings results on Thursday, February 29th. The company reported $0.43 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 company had revenue of $397.62 million during the quarter, compared to the consensus estimate of $323.64 million. On average, sell-side analysts expect that Landsea Homes Co. will post 1.48 EPS 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.