Dream Finders Homes (NYSE:DFH) Shares Up 14% – Here’s What Happened

Dream Finders Homes, Inc. (NYSE:DFH) shares shot up 14% on Wednesday. The stock traded as high as $11.93 and last traded at $11.5110. Approximately 132,470 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 798,883 shares. The stock had previously closed at $10.10.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Dream Finders Homes from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Dream Finders Homes Trading Down 0.3%

The company has a market capitalization of $1.13 billion, a PE ratio of 12.92 and a beta of 2.02. The firm’s 50-day simple moving average is $11.11 and its 200-day simple moving average is $14.61.

Dream Finders Homes (NYSE:DFH) last issued its earnings results on Thursday, October 29th. The company reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $996.05 million for the quarter. Dream Finders Homes had a net margin of 2.56% and a return on equity of 8.87%.

Insiders Place Their Bets

In other news, Director Richard Beckwitt acquired 10,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were acquired at an average cost of $12.07 per share, with a total value of $120,700.00. Following the completion of the acquisition, the director owned 100,000 shares of the company’s stock, valued at approximately $1,207,000. This trade represents a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have purchased 103,000 shares of company stock worth $1,427,755. 65.97% of the stock is currently owned by insiders.

Institutional Trading of Dream Finders Homes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DFH. Russell Investments Group Ltd. increased its holdings in Dream Finders Homes by 33.7% in the third quarter. Russell Investments Group Ltd. now owns 46,735 shares of the company’s stock valued at $500,000 after buying an additional 11,777 shares during the last quarter. Fulcrum Asset Management LLP raised its stake in Dream Finders Homes by 16,803.0% in the third quarter. Fulcrum Asset Management LLP now owns 11,156 shares of the company’s stock valued at $123,000 after buying an additional 11,090 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in Dream Finders Homes during the 3rd quarter worth about $466,000. Pinnacle Wealth Planning Services Inc. lifted its holdings in Dream Finders Homes by 193.1% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,101 shares of the company’s stock worth $33,000 after buying an additional 2,043 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Dream Finders Homes during the 2nd quarter worth about $667,000. Institutional investors and hedge funds own 95.55% of the company’s stock.

Dream Finders Homes Company Profile

Dream Finders Homes, Inc is a residential homebuilder that designs, constructs and sells single-family homes. The company serves primarily first-time, move-up and luxury homebuyers, offering homes in a range of floor plans, sizes and price points. Its activities include land acquisition and development, home construction, sales and customer service.

Founded in 2008 by Patrick Zalupski, Dream Finders Homes is headquartered in Jacksonville, Florida. The company operates in selected markets across the Southeast, Mid-Atlantic, Texas and Colorado through the Dream Finders Homes brand and regional homebuilding operations, including affiliated brands such as Coventry Homes and Crescent Homes.

In addition to homebuilding, the company provides related services intended to support the purchase process, including mortgage lending and title and closing services through affiliated businesses.