Landsea Homes (NASDAQ:LSEA) Research Coverage Started at Oppenheimer

Oppenheimer began coverage on shares of Landsea Homes (NASDAQ:LSEA) in a report issued on Friday, Marketbeat Ratings reports. The firm issued an outperform rating and a $14.00 price target on the stock.

Other equities research analysts have also issued 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 research report on Thursday, May 2nd. Wedbush reissued an outperform rating and issued a $16.00 price target on shares of Landsea Homes in a research note on Wednesday, May 1st.

Landsea Homes Stock Down 1.2 %

Shares of NASDAQ:LSEA opened at $9.80 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.13 and a current ratio of 2.13. Landsea Homes has a 1 year low of $7.00 and a 1 year high of $14.91. The stock has a market capitalization of $354.56 million, a P/E ratio of 14.41 and a beta of 1.10. The stock has a 50-day simple moving average of $11.29 and a 200-day simple moving average of $11.89.

Landsea Homes (NASDAQ:LSEA) last issued its earnings results on Wednesday, May 1st. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The firm had revenue of $294.04 million for the quarter, compared to analysts’ expectations of $277.30 million. Landsea Homes had a return on equity of 6.17% and a net margin of 2.08%. During the same quarter in the previous year, the firm posted $0.18 EPS. Equities analysts forecast that Landsea Homes will post 1.4 earnings per share for the current year.

Insider Transactions at Landsea Homes

In related news, major shareholder Holdings Corp Landsea sold 4,100,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $6.00, for a total transaction of $24,600,000.00. Following the completion of the transaction, the insider now owns 12,840,729 shares of the company’s stock, valued at $77,044,374. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Holdings Corp Landsea sold 4,100,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $6.00, for a total transaction of $24,600,000.00. Following the completion of the transaction, the insider now owns 12,840,729 shares of the company’s stock, valued at $77,044,374. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Forsum bought 17,241 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average cost of $11.60 per share, with a total value of $199,995.60. Following the purchase, the chief operating officer now directly owns 446,682 shares of the company’s stock, valued at $5,181,511.20. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 30,430 shares of company stock valued at $334,788. 51.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Landsea Homes

Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake in shares of Landsea Homes by 2.2% during the 1st quarter. Russell Investments Group Ltd. now owns 96,458 shares of the company’s stock worth $1,402,000 after purchasing an additional 2,077 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Landsea Homes by 0.5% during the 1st quarter. Foundry Partners LLC now owns 479,030 shares of the company’s stock worth $6,960,000 after purchasing an additional 2,190 shares in the last quarter. Boston Partners raised its stake in shares of Landsea Homes by 22.9% during the 1st quarter. Boston Partners now owns 17,780 shares of the company’s stock worth $258,000 after purchasing an additional 3,313 shares in the last quarter. AJOVista LLC purchased a new stake in shares of Landsea Homes during the 4th quarter worth about $64,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Landsea Homes by 4.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 128,206 shares of the company’s stock worth $1,153,000 after purchasing an additional 5,721 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other 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.