Landsea Homes Co. (NASDAQ:LSEA) Sees Significant Drop in Short Interest

Landsea Homes Co. (NASDAQ:LSEA) saw a large drop in short interest in February. As of February 15th, there was short interest totalling 739,500 shares, a drop of 17.6% from the January 31st total of 897,300 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average trading volume of 336,700 shares, the short-interest ratio is presently 2.2 days.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Landsea Homes in a report on Wednesday. Barclays cut their price objective on shares of Landsea Homes from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday.

Insiders Place Their Bets

In other news, major shareholder Huaijun Chen sold 3,565,217 shares of Landsea Homes stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $10.25, for a total value of $36,543,474.25. Following the completion of the transaction, the insider now directly owns 534,783 shares of the company’s stock, valued at approximately $5,481,525.75. The trade was a 86.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ming Tian sold 2,521,740 shares of Landsea Homes stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $10.25, for a total transaction of $25,847,835.00. Following the completion of the transaction, the director now directly owns 6,543,411 shares of the company’s stock, valued at $67,069,962.75. This trade represents a 27.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.00% of the stock is owned by company insiders.

Institutional Trading of Landsea Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in LSEA. Summit Global Investments bought a new stake in shares of Landsea Homes during the 3rd quarter worth about $350,000. Empowered Funds LLC raised its position in shares of Landsea Homes by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 184,148 shares of the company’s stock worth $2,274,000 after buying an additional 9,380 shares in the last quarter. Gladius Capital Management LP bought a new stake in shares of Landsea Homes during the 3rd quarter worth about $32,000. Quest Partners LLC bought a new stake in shares of Landsea Homes during the 3rd quarter worth about $359,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Landsea Homes by 56.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 149,032 shares of the company’s stock worth $1,841,000 after buying an additional 53,619 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors.

Landsea Homes Stock Performance

NASDAQ:LSEA traded down $0.21 during mid-day trading on Friday, hitting $7.20. The stock had a trading volume of 168,278 shares, compared to its average volume of 310,655. The stock has a market capitalization of $261.58 million, a price-to-earnings ratio of 10.00, a P/E/G ratio of 0.45 and a beta of 1.28. The company has a 50 day simple moving average of $8.08 and a 200-day simple moving average of $10.18. Landsea Homes has a 52 week low of $6.54 and a 52 week high of $14.91. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.78.

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.