B. Riley Analysts Reduce Earnings Estimates for Landsea Homes Co. (NASDAQ:LSEA)

Landsea Homes Co. (NASDAQ:LSEA) – Stock analysts at B. Riley decreased their Q2 2024 earnings per share (EPS) estimates for Landsea Homes in a note issued to investors on Thursday, May 2nd. B. Riley analyst A. Rygiel now forecasts that the company will post earnings per share of $0.27 for the quarter, down from their previous forecast of $0.31. The consensus estimate for Landsea Homes’ current full-year earnings is $1.48 per share. B. Riley also issued estimates for Landsea Homes’ Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $1.40 EPS and FY2025 earnings at $1.85 EPS.

Other equities research analysts have also recently issued research reports about the company. Barclays dropped their target price on Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday. Wedbush reissued an “outperform” rating and issued a $16.00 price objective on shares of Landsea Homes in a research note on Wednesday.

Landsea Homes Trading Down 0.6 %

Shares of NASDAQ:LSEA opened at $9.78 on Friday. The company has a 50 day moving average of $12.46 and a 200-day moving average of $11.50. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.34. The firm has a market cap of $353.55 million, a P/E ratio of 14.47 and a beta of 1.11. Landsea Homes has a twelve month low of $7.00 and a twelve month high of $14.91.

Landsea Homes (NASDAQ:LSEA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). The company had revenue of $294.04 million during the quarter, compared to analyst estimates of $277.30 million. Landsea Homes had a return on equity of 6.11% and a net margin of 2.08%. During the same period in the previous year, the company earned $0.18 EPS.

Insider Activity

In other news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $11.60, for a total transaction of $32,480,000.00. Following the completion of the transaction, the insider now owns 16,940,729 shares in the company, valued at approximately $196,512,456.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Michael Forsum purchased 17,241 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average price of $11.60 per share, for a total transaction of $199,995.60. Following the transaction, the chief operating officer now directly owns 446,682 shares of the company’s stock, valued at approximately $5,181,511.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of Landsea Homes stock in a transaction dated 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 completion of the transaction, the insider now directly owns 16,940,729 shares in the company, valued at approximately $196,512,456.40. The disclosure for this sale can be found here. In the last quarter, insiders acquired 20,430 shares of company stock worth $236,988. Corporate insiders own 66.90% of the company’s stock.

Hedge Funds Weigh In On Landsea Homes

A number of institutional investors have recently bought and sold shares of LSEA. Wasatch Advisors LP purchased a new position in Landsea Homes in the 1st quarter worth about $22,136,000. B. Riley Financial Inc. increased its stake in Landsea Homes by 498.5% in the 3rd quarter. B. Riley Financial Inc. now owns 866,850 shares of the company’s stock worth $7,793,000 after purchasing an additional 722,008 shares in the last quarter. Acadian Asset Management LLC increased its stake in Landsea Homes by 749.1% in the 3rd quarter. Acadian Asset Management LLC now owns 463,913 shares of the company’s stock worth $4,168,000 after purchasing an additional 409,278 shares in the last quarter. Mill Road Capital Management LLC increased its stake in Landsea Homes by 123.2% in the 4th quarter. Mill Road Capital Management LLC now owns 388,224 shares of the company’s stock worth $5,101,000 after purchasing an additional 214,250 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Landsea Homes in the 1st quarter worth about $2,543,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

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.