Landsea Homes’ (LSEA) Buy Rating Reaffirmed at B. Riley

B. Riley reissued their buy rating on shares of Landsea Homes (NASDAQ:LSEA) in a report released on Tuesday morning,Benzinga reports. The firm currently has a $18.00 price target on the stock, up from their prior price target of $17.00. B. Riley also issued estimates for Landsea Homes’ Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $1.44 EPS and FY2025 earnings at $2.19 EPS.

Several other brokerages also recently commented on LSEA. Barclays boosted their target price on shares of Landsea Homes from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Oppenheimer boosted their price target on shares of Landsea Homes from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Wedbush upped their price objective on shares of Landsea Homes from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd.

Landsea Homes Price Performance

Shares of LSEA stock opened at $11.08 on Tuesday. The stock’s fifty day simple moving average is $11.81 and its 200 day simple moving average is $10.93. Landsea Homes has a one year low of $8.28 and a one year high of $14.91. The firm has a market cap of $401.98 million, a price-to-earnings ratio of 15.39, a P/E/G ratio of 0.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.81 and a quick ratio of 2.70.

Insider Activity

In related news, Director Elias Farhat sold 60,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $12.07, for a total transaction of $724,200.00. Following the transaction, the director now owns 272,685 shares in the company, valued at $3,291,307.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Elias Farhat sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $12.07, for a total value of $724,200.00. Following the completion of the sale, the director now owns 272,685 shares of the company’s stock, valued at $3,291,307.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas Hartfield sold 6,986 shares of the business’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 transaction of $77,893.90. Following the completion of the transaction, the director now owns 67,181 shares of the company’s stock, valued at $749,068.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 51.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Landsea Homes

Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in Landsea Homes by 4.3% during the 2nd quarter. Rhumbline Advisers now owns 20,755 shares of the company’s stock worth $191,000 after purchasing an additional 862 shares during the last quarter. Algert Global LLC grew its position in shares of Landsea Homes by 16.0% during the 2nd quarter. Algert Global LLC now owns 13,043 shares of the company’s stock worth $120,000 after buying an additional 1,798 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Landsea Homes by 2.2% during the first quarter. Russell Investments Group Ltd. now owns 96,458 shares of the company’s stock worth $1,402,000 after buying an additional 2,077 shares during the last quarter. Foundry Partners LLC lifted its holdings in Landsea Homes by 0.5% in the first quarter. Foundry Partners LLC now owns 479,030 shares of the company’s stock valued at $6,960,000 after buying an additional 2,190 shares during the period. Finally, Gladius Capital Management LP bought a new position in Landsea Homes in the third quarter valued at approximately $32,000. Institutional investors own 82.99% 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.