Barclays Issues Pessimistic Forecast for Landsea Homes (NASDAQ:LSEA) Stock Price

Landsea Homes (NASDAQ:LSEA - Free Report) had its target price trimmed by Barclays from $12.00 to $9.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Separately, B. Riley reaffirmed a "buy" rating and issued a $18.00 target price (up from $17.00) on shares of Landsea Homes in a research note on Tuesday, November 5th.

Landsea Homes Price Performance

NASDAQ LSEA traded up $0.09 during trading on Thursday, reaching $8.14. The company's stock had a trading volume of 333,541 shares, compared to its average volume of 358,367. The firm has a fifty day moving average of $9.73 and a 200 day moving average of $10.81. Landsea Homes has a one year low of $7.58 and a one year high of $14.91. The stock has a market capitalization of $295.32 million, a PE ratio of 11.31, a P/E/G ratio of 0.38 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.81 and a quick ratio of 2.81.

Insiders Place Their Bets

In related news, major shareholder Huaijun Chen sold 3,565,217 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $10.25, for a total transaction of $36,543,474.25. Following the transaction, the insider now directly owns 534,783 shares of the company's stock, valued at approximately $5,481,525.75. This trade represents a 86.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas Hartfield sold 6,986 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $11.15, for a total value of $77,893.90. Following the completion of the sale, the director now directly owns 67,181 shares of the company's stock, valued at approximately $749,068.15. This represents a 9.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,098,943 shares of company stock valued at $62,522,303 over the last 90 days. Insiders own 51.00% of the company's stock.

Hedge Funds Weigh In On Landsea Homes

Several institutional investors and hedge funds have recently made changes to their positions in LSEA. Point72 Asset Management L.P. purchased a new stake in Landsea Homes during the second quarter valued at about $31,000. Gladius Capital Management LP purchased a new stake in Landsea Homes during the 3rd quarter valued at about $32,000. Quarry LP purchased a new stake in Landsea Homes during the 3rd quarter valued at about $44,000. SG Americas Securities LLC grew its position in Landsea Homes by 30.5% during the 4th quarter. SG Americas Securities LLC now owns 13,175 shares of the company's stock worth $112,000 after acquiring an additional 3,080 shares during the last quarter. Finally, Algert Global LLC increased its stake in Landsea Homes by 16.0% in the 2nd 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. Institutional investors own 82.99% of the company's stock.

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.