Heartland Advisors Inc. Takes $7.25 Million Position in Landsea Homes Co. (NASDAQ:LSEA)

Heartland Advisors Inc. bought a new position in shares of Landsea Homes Co. (NASDAQ:LSEA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 854,144 shares of the company’s stock, valued at approximately $7,252,000. Heartland Advisors Inc. owned 2.35% of Landsea Homes at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mill Road Capital Management LLC lifted its holdings in shares of Landsea Homes by 18.2% during the 3rd quarter. Mill Road Capital Management LLC now owns 912,857 shares of the company’s stock worth $11,274,000 after acquiring an additional 140,786 shares during the period. Wellington Management Group LLP grew its stake in shares of Landsea Homes by 20.8% during the 3rd quarter. Wellington Management Group LLP now owns 694,900 shares of the company’s stock valued at $8,582,000 after buying an additional 119,500 shares during the period. Geode Capital Management LLC increased its holdings in shares of Landsea Homes by 13.1% during the 3rd quarter. Geode Capital Management LLC now owns 431,314 shares of the company’s stock worth $5,328,000 after buying an additional 49,830 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in Landsea Homes in the fourth quarter valued at $2,890,000. Finally, State Street Corp grew its position in Landsea Homes by 1.4% during the third quarter. State Street Corp now owns 327,961 shares of the company’s stock valued at $4,050,000 after acquiring an additional 4,433 shares during the period. 82.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LSEA has been the topic of a number of research reports. Wedbush restated an “outperform” rating and issued a $15.00 price objective on shares of Landsea Homes in a report on Wednesday, March 5th. Barclays reduced their price target 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, March 3rd.

Landsea Homes Price Performance

LSEA stock opened at $6.38 on Friday. The stock has a 50-day simple moving average of $7.73 and a 200-day simple moving average of $9.66. The firm has a market cap of $231.79 million, a P/E ratio of 8.86, a price-to-earnings-growth ratio of 0.45 and a beta of 1.28. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.81 and a current ratio of 2.81. Landsea Homes Co. has a 1 year low of $6.37 and a 1 year high of $14.72.

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.