Dream Finders Homes (NASDAQ:DFH) Shares Gap Up - Still a Buy?

Shares of Dream Finders Homes, Inc. (NASDAQ:DFH - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $23.56, but opened at $25.33. Dream Finders Homes shares last traded at $24.62, with a volume of 62,382 shares traded.

Wall Street Analyst Weigh In

Separately, Bank of America raised their target price on Dream Finders Homes from $35.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th.

Dream Finders Homes Stock Performance

The stock's 50 day simple moving average is $27.72 and its two-hundred day simple moving average is $30.05. The firm has a market capitalization of $2.26 billion, a PE ratio of 7.89, a price-to-earnings-growth ratio of 0.69 and a beta of 2.02.

Dream Finders Homes (NASDAQ:DFH - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.84 by ($0.14). Dream Finders Homes had a return on equity of 30.18% and a net margin of 7.65%. The company had revenue of $986.26 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm posted $0.75 EPS. The business's quarterly revenue was up 10.4% on a year-over-year basis. Equities research analysts expect that Dream Finders Homes, Inc. will post 3.35 earnings per share for the current fiscal year.

Insider Transactions at Dream Finders Homes

In other news, CEO Patrick O. Zalupski sold 18,214 shares of the firm's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $27.46, for a total value of $500,156.44. Following the sale, the chief executive officer now directly owns 1,956,353 shares in the company, valued at approximately $53,721,453.38. This trade represents a 0.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Radford Lovett II sold 10,492 shares of the firm's stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $33.66, for a total transaction of $353,160.72. Following the sale, the director now directly owns 4,667,800 shares in the company, valued at approximately $157,118,148. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,850 shares of company stock worth $4,304,470. 70.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dream Finders Homes

Several hedge funds have recently made changes to their positions in DFH. Mark Sheptoff Financial Planning LLC purchased a new stake in Dream Finders Homes during the 3rd quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB purchased a new position in Dream Finders Homes in the 3rd quarter valued at approximately $63,000. ORG Wealth Partners LLC acquired a new position in Dream Finders Homes during the third quarter worth $105,000. Benjamin F. Edwards & Company Inc. boosted its position in Dream Finders Homes by 139.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,923 shares of the company's stock worth $75,000 after purchasing an additional 1,701 shares in the last quarter. Finally, FMR LLC grew its holdings in Dream Finders Homes by 99.4% in the third quarter. FMR LLC now owns 2,945 shares of the company's stock valued at $107,000 after purchasing an additional 1,468 shares during the last quarter. Institutional investors and hedge funds own 95.55% of the company's stock.

Dream Finders Homes Company Profile

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.