Landsea Homes (NASDAQ:LSEA) Given New $15.00 Price Target at Oppenheimer

Landsea Homes (NASDAQ:LSEA) had its price target raised by Oppenheimer from $14.00 to $15.00 in a report published on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts have also commented on LSEA. Wedbush raised their target price on Landsea Homes from $16.00 to $17.00 and gave the stock an outperform rating in a report on Friday. Barclays raised their price objective on shares of Landsea Homes from $10.00 to $12.00 and gave the stock an equal weight rating in a research note on Friday.

Landsea Homes Stock Performance

Shares of LSEA stock traded down $0.24 during trading hours on Monday, hitting $11.42. The company’s stock had a trading volume of 102,111 shares, compared to its average volume of 201,893. The stock has a market cap of $413.16 million, a PE ratio of 17.15, a price-to-earnings-growth ratio of 0.86 and a beta of 1.11. Landsea Homes has a 12-month low of $7.00 and a 12-month high of $14.91. The company has a 50 day moving average of $10.09 and a 200 day moving average of $11.33. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.35.

Landsea Homes (NASDAQ:LSEA) last posted its earnings results on Thursday, August 1st. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The company had revenue of $431.14 million during the quarter, compared to the consensus estimate of $336.20 million. Landsea Homes had a net margin of 1.72% and a return on equity of 6.25%. During the same period in the previous year, the firm posted $0.33 earnings per share. On average, sell-side analysts forecast that Landsea Homes will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ming Tian sold 450,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $9.53, for a total value of $4,288,500.00. Following the completion of the sale, the director now directly owns 12,290,729 shares in the company, valued at $117,130,647.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Holdings Corp Landsea sold 4,100,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were 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 in the company, valued at approximately $77,044,374. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ming Tian sold 450,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $9.53, for a total transaction of $4,288,500.00. Following the completion of the transaction, the director now directly owns 12,290,729 shares in the company, valued at $117,130,647.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,567,162 shares of company stock valued at $29,057,772. 51.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Landsea Homes

Hedge funds have recently made changes to their positions in the company. Signaturefd LLC purchased a new stake in shares of Landsea Homes during the second quarter worth approximately $28,000. Byrne Asset Management LLC purchased a new stake in shares of Landsea Homes during the second quarter worth $32,000. AJOVista LLC acquired a new stake in shares of Landsea Homes in the fourth quarter valued at about $64,000. Quarry LP purchased a new position in shares of Landsea Homes in the fourth quarter worth about $90,000. Finally, LSV Asset Management acquired a new position in Landsea Homes during the fourth quarter worth about $135,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

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.