Landsea Homes (NASDAQ:LSEA) PT Raised to $17.00 at Wedbush

Landsea Homes (NASDAQ:LSEA) had its price target increased by equities research analysts at Wedbush from $16.00 to $17.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target indicates a potential upside of 41.67% from the stock’s previous close.

LSEA has been the subject of a number of other reports. Oppenheimer assumed coverage on Landsea Homes in a research note on Friday, May 31st. They issued an “outperform” rating and a $14.00 target price for the company. Barclays dropped their target price on shares of Landsea Homes from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th.

Landsea Homes Trading Down 4.7 %

Shares of Landsea Homes stock opened at $12.00 on Friday. Landsea Homes has a 12-month low of $7.00 and a 12-month high of $14.91. The stock has a market capitalization of $434.16 million, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 0.83 and a beta of 1.10. The company has a 50-day simple moving average of $10.04 and a 200 day simple moving average of $11.35. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.35.

Landsea Homes (NASDAQ:LSEA) last announced its earnings results on Thursday, August 1st. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. Landsea Homes had a return on equity of 6.17% and a net margin of 2.08%. The business had revenue of $431.14 million for the quarter, compared to the consensus estimate of $336.20 million. During the same period in the previous year, the business earned $0.33 EPS. Research analysts expect that Landsea Homes will post 1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bruce D. Frank sold 5,491 shares of Landsea Homes stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $10.21, for a total transaction of $56,063.11. Following the completion of the sale, the director now owns 35,261 shares in the company, valued at approximately $360,014.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Mollie Fadule acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average price of $9.78 per share, for a total transaction of $97,800.00. Following the completion of the acquisition, the director now owns 71,727 shares of the company’s stock, valued at approximately $701,490.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce D. Frank sold 5,491 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $10.21, for a total value of $56,063.11. Following the transaction, the director now owns 35,261 shares in the company, valued at approximately $360,014.81. The disclosure for this sale can be found here. In the last three months, insiders sold 4,567,162 shares of company stock valued at $29,057,772. 51.00% of the stock is currently owned by insiders.

Institutional Trading of Landsea Homes

Institutional investors and hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP bought a new stake in shares of Landsea Homes in the 1st quarter valued at $22,136,000. Hood River Capital Management LLC increased its position in shares of Landsea Homes by 82.3% during the first quarter. Hood River Capital Management LLC now owns 482,339 shares of the company’s stock worth $7,008,000 after acquiring an additional 217,767 shares in the last quarter. Mill Road Capital Management LLC raised its holdings in shares of Landsea Homes by 123.2% during the fourth quarter. Mill Road Capital Management LLC now owns 388,224 shares of the company’s stock worth $5,101,000 after acquiring an additional 214,250 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Landsea Homes in the 1st quarter valued at $2,543,000. Finally, Acadian Asset Management LLC boosted its stake in Landsea Homes by 20.4% in the 1st quarter. Acadian Asset Management LLC now owns 701,711 shares of the company’s stock worth $10,191,000 after purchasing an additional 118,802 shares during the period. 82.99% of the stock is owned by institutional investors.

About Landsea Homes

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.