Landsea Homes Co. (NASDAQ:LSEA) Sees Large Decline in Short Interest

Landsea Homes Co. (NASDAQ:LSEA) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 889,900 shares, a decrease of 34.6% from the November 30th total of 1,360,000 shares. Based on an average daily volume of 278,200 shares, the short-interest ratio is presently 3.2 days. Approximately 4.2% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, Director Thomas Hartfield sold 6,986 shares of the 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 sale, the director now directly owns 67,181 shares in the company, valued at approximately $749,068.15. This represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Huaijun Chen sold 3,565,217 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $10.25, for a total value of $36,543,474.25. Following the transaction, the insider now owns 534,783 shares of the company’s stock, valued at approximately $5,481,525.75. The trade was a 86.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,098,943 shares of company stock valued at $62,522,303. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Landsea Homes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC bought a new position in shares of Landsea Homes during the 2nd quarter valued at about $28,000. Point72 Asset Management L.P. bought a new stake in Landsea Homes during the second quarter worth approximately $31,000. Gladius Capital Management LP acquired a new position in Landsea Homes in the third quarter worth approximately $32,000. Quarry LP bought a new position in shares of Landsea Homes in the third quarter valued at $44,000. Finally, Algert Global LLC lifted 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 valued at $120,000 after acquiring an additional 1,798 shares during the last quarter. 82.99% of the stock is owned by institutional investors.

Landsea Homes Price Performance

Shares of NASDAQ:LSEA traded down $0.12 during trading on Monday, reaching $8.58. The company had a trading volume of 192,692 shares, compared to its average volume of 222,681. The firm’s fifty day moving average is $10.58 and its 200 day moving average is $10.95. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.81 and a current ratio of 2.81. The firm has a market capitalization of $311.31 million, a PE ratio of 11.92, a price-to-earnings-growth ratio of 0.71 and a beta of 1.15. Landsea Homes has a twelve month low of $8.28 and a twelve month high of $14.91.

Analyst Ratings Changes

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

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.