Dream Finders Homes, Inc. (NASDAQ:DFH - Get Free Report) shares gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $21.00, but opened at $23.37. Dream Finders Homes shares last traded at $24.29, with a volume of 153,551 shares.
The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.25. Dream Finders Homes had a return on equity of 30.18% and a net margin of 7.65%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the company earned $1.00 EPS. The company's revenue for the quarter was up 35.2% on a year-over-year basis.
Wall Street Analysts Forecast Growth
Separately, Bank of America reduced their target price on Dream Finders Homes from $33.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, January 27th.
Get Our Latest Analysis on DFH
Insider Transactions at Dream Finders Homes
In other news, CEO Patrick O. Zalupski sold 18,119 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $33.26, for a total transaction of $602,637.94. Following the completion of the transaction, the chief executive officer now directly owns 2,003,125 shares in the company, valued at $66,623,937.50. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 70.45% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of DFH. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Dream Finders Homes by 11.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,009,774 shares of the company's stock valued at $139,847,000 after purchasing an additional 594,592 shares during the period. Vanguard Group Inc. increased its position in shares of Dream Finders Homes by 24.0% during the fourth quarter. Vanguard Group Inc. now owns 3,127,977 shares of the company's stock valued at $72,788,000 after purchasing an additional 605,508 shares during the period. Cooke & Bieler LP increased its position in shares of Dream Finders Homes by 19.7% during the fourth quarter. Cooke & Bieler LP now owns 2,196,975 shares of the company's stock valued at $51,124,000 after purchasing an additional 361,616 shares during the period. Janus Henderson Group PLC increased its position in shares of Dream Finders Homes by 199.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,064,990 shares of the company's stock valued at $48,053,000 after purchasing an additional 1,375,305 shares during the period. Finally, Arcus Capital Partners LLC increased its position in shares of Dream Finders Homes by 21.1% during the fourth quarter. Arcus Capital Partners LLC now owns 2,061,341 shares of the company's stock valued at $47,967,000 after purchasing an additional 359,659 shares during the period. 95.55% of the stock is currently owned by institutional investors and hedge funds.
Dream Finders Homes Stock Up 1.8 %
The firm has a market capitalization of $2.24 billion, a P/E ratio of 7.82, a PEG ratio of 1.28 and a beta of 2.01. The business has a 50-day moving average price of $23.05 and a 200-day moving average price of $28.81.
About Dream Finders Homes
(
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Dream Finders Homes, Inc operates as a holding company for Dream Finders Homes LLC that engages in homebuilding business in the United States. The company operates through four segments: Southeast, Mid-Atlantic, Midwest, and Financial Services. It designs, constructs, and sells single-family entry-level, and first-time and second time move-up homes, as well as active adult homes and custom homes in Florida, Texas, Tennessee, North Carolina, South Carolina, Georgia, Colorado, and the Washington, DC metropolitan area.
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