B. Riley Has Positive View of Landsea Homes FY2024 Earnings

Landsea Homes Co. (NASDAQ:LSEA - Free Report) - Research analysts at B. Riley increased their FY2024 earnings per share estimates for shares of Landsea Homes in a research note issued on Tuesday, November 5th. B. Riley analyst A. Rygiel now expects that the company will post earnings per share of $1.44 for the year, up from their prior estimate of $1.43. B. Riley currently has a "Buy" rating and a $18.00 price target on the stock. The consensus estimate for Landsea Homes' current full-year earnings is $1.45 per share.

Several other equities analysts also recently issued reports on the company. Oppenheimer lifted their price objective on Landsea Homes from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Wedbush raised their price objective on shares of Landsea Homes from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Finally, Barclays boosted their target price on Landsea Homes from $10.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd.

Landsea Homes Stock Performance

Landsea Homes stock traded down $0.38 during trading hours on Wednesday, hitting $11.12. The stock had a trading volume of 389,932 shares, compared to its average volume of 183,844. The company has a 50-day moving average of $11.87 and a two-hundred day moving average of $10.93. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.79. Landsea Homes has a fifty-two week low of $8.28 and a fifty-two week high of $14.91. The company has a market cap of $403.43 million, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.81 and a beta of 1.13.

Institutional Trading of Landsea Homes

Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC bought a new position in Landsea Homes during the 2nd quarter worth $28,000. Point72 Asset Management L.P. bought a new position in shares of Landsea Homes in the second quarter worth $31,000. Byrne Asset Management LLC acquired a new position in Landsea Homes in the second quarter valued at about $32,000. Algert Global LLC lifted its position in Landsea Homes by 16.0% during the second quarter. Algert Global LLC now owns 13,043 shares of the company's stock worth $120,000 after purchasing an additional 1,798 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Landsea Homes during the third quarter worth about $125,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Elias Farhat sold 60,000 shares of Landsea Homes stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $12.07, for a total transaction of $724,200.00. Following the completion of the transaction, the director now owns 272,685 shares in the company, valued at approximately $3,291,307.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 51.00% 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.