Lennar Corporation (NYSE:LEN) Short Interest Update

Lennar Corporation (NYSE:LEN) was the target of a large decline in short interest in December. As of December 15th, there was short interest totaling 11,521,372 shares, a decline of 67.8% from the November 30th total of 35,737,570 shares. Approximately 5.0% of the company’s stock are short sold. Based on an average daily volume of 6,762,352 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily volume of 6,762,352 shares, the days-to-cover ratio is currently 1.7 days. Approximately 5.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LEN. Bank of America reiterated an “underperform” rating and set a $95.00 price objective (down from $125.00) on shares of Lennar in a report on Thursday, December 18th. Wells Fargo & Company dropped their price target on shares of Lennar from $125.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 18th. Keefe, Bruyette & Woods decreased their price objective on Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, December 18th. Citigroup reissued an “outperform” rating on shares of Lennar in a research note on Monday, September 22nd. Finally, JPMorgan Chase & Co. cut their target price on Lennar from $115.00 to $80.00 and set an “underweight” rating on the stock in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $109.62.

Lennar Stock Performance

Shares of LEN stock traded down $0.33 during trading on Friday, hitting $104.76. The company’s stock had a trading volume of 1,866,914 shares, compared to its average volume of 5,975,953. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The company has a market cap of $26.72 billion, a PE ratio of 13.11, a P/E/G ratio of 1.14 and a beta of 1.38. The business has a fifty day moving average of $121.02 and a 200-day moving average of $121.45. Lennar has a 52 week low of $98.42 and a 52 week high of $144.24.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.The business’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.03 earnings per share. As a group, research analysts anticipate that Lennar will post 12.48 earnings per share for the current year.

Institutional Trading of Lennar

A number of large investors have recently added to or reduced their stakes in LEN. Lazard Asset Management LLC boosted its stake in Lennar by 7.1% in the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after acquiring an additional 85 shares during the last quarter. Zions Bancorporation National Association UT lifted its stake in Lennar by 8.3% in the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock valued at $142,000 after purchasing an additional 86 shares during the last quarter. RFG Advisory LLC grew its holdings in Lennar by 2.1% during the third quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock valued at $536,000 after purchasing an additional 87 shares during the period. UMB Bank n.a. increased its position in Lennar by 6.2% in the third quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock worth $201,000 after buying an additional 93 shares during the last quarter. Finally, ORG Wealth Partners LLC raised its stake in shares of Lennar by 5.2% in the third quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock valued at $261,000 after buying an additional 102 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.