Landsea Homes (NASDAQ:LSEA) Price Target Cut to $11.00

Landsea Homes (NASDAQ:LSEA) had its price target cut by Barclays from $14.00 to $11.00 in a report issued on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Wedbush reissued an outperform rating and set a $16.00 target price on shares of Landsea Homes in a research note on Wednesday, May 1st.

Landsea Homes Price Performance

Shares of NASDAQ:LSEA opened at $9.78 on Thursday. The firm has a market cap of $353.55 million, a PE ratio of 14.38 and a beta of 1.11. Landsea Homes has a 52 week low of $7.00 and a 52 week high of $14.91. The firm’s fifty day moving average is $12.42 and its 200-day moving average is $11.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37.

Landsea Homes (NASDAQ:LSEA) last announced its earnings results on Wednesday, May 1st. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). Landsea Homes had a net margin of 2.08% and a return on equity of 6.11%. The company had revenue of $294.04 million during the quarter, compared to the consensus estimate of $277.30 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. Sell-side analysts predict that Landsea Homes will post 1.4 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Landsea Homes

Hedge funds and other institutional investors have recently modified their holdings of the company. Wasatch Advisors LP acquired a new stake in Landsea Homes in the 1st quarter valued at $22,136,000. B. Riley Financial Inc. grew its holdings in shares of Landsea Homes by 498.5% during the third quarter. B. Riley Financial Inc. now owns 866,850 shares of the company’s stock valued at $7,793,000 after buying an additional 722,008 shares during the last quarter. Foundry Partners LLC increased its position in shares of Landsea Homes by 26.8% during the third quarter. Foundry Partners LLC now owns 484,355 shares of the company’s stock worth $4,354,000 after acquiring an additional 102,279 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of 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 acquiring an additional 409,278 shares during the last quarter. Finally, Mill Road Capital Management LLC lifted its position 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 valued at $5,101,000 after acquiring an additional 214,250 shares in the last quarter. 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.