B. Riley Has Positive View of Landsea Homes FY2024 Earnings

Landsea Homes Co. (NASDAQ:LSEA) – Research analysts at B. Riley raised their FY2024 earnings estimates for shares of Landsea Homes in a research report issued on Tuesday, November 5th. B. Riley analyst A. Rygiel now anticipates that the company will post earnings of $1.44 per share for the year, up from their previous forecast of $1.43. B. Riley has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for Landsea Homes’ current full-year earnings is $1.45 per share.

LSEA has been the topic of several other reports. Wedbush boosted their target price 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. Oppenheimer boosted their target price on shares of Landsea Homes from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Barclays increased their price objective on Landsea Homes from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd.

Landsea Homes Price Performance

Shares of NASDAQ:LSEA opened at $11.04 on Wednesday. The company’s fifty day moving average is $11.85 and its two-hundred day moving average is $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 12-month low of $8.28 and a 12-month high of $14.91. The company has a market cap of $400.56 million, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 0.81 and a beta of 1.13.

Insider Buying and Selling

In related news, Director Elias Farhat sold 60,000 shares of the stock in a transaction on 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 sale, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 51.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Landsea Homes

Hedge funds have recently bought and sold shares of the business. Signaturefd LLC acquired a new position in Landsea Homes during the second quarter worth $28,000. Point72 Asset Management L.P. acquired a new position in Landsea Homes during the second quarter worth $31,000. Byrne Asset Management LLC acquired a new stake in shares of Landsea Homes in the second quarter valued at about $32,000. Gladius Capital Management LP acquired a new stake in shares of Landsea Homes in the third quarter valued at about $32,000. Finally, Algert Global LLC grew its position in shares of Landsea Homes by 16.0% in the second quarter. Algert Global LLC now owns 13,043 shares of the company’s stock valued at $120,000 after purchasing an additional 1,798 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

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.