Barclays Cuts Landsea Homes (NASDAQ:LSEA) Price Target to $9.00

Landsea Homes (NASDAQ:LSEA) had its price objective lowered by research analysts at Barclays from $12.00 to $9.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 9.62% from the stock’s previous close.

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

Landsea Homes Price Performance

Shares of NASDAQ LSEA traded down $0.02 during midday trading on Thursday, reaching $8.21. The stock had a trading volume of 132,701 shares, compared to its average volume of 339,787. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.81 and a current ratio of 2.81. Landsea Homes has a 12-month low of $7.58 and a 12-month high of $14.91. The stock has a 50-day moving average of $9.79 and a 200-day moving average of $10.83. The company has a market capitalization of $297.86 million, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 0.38 and a beta of 1.20.

Insider Buying and Selling

In related news, major shareholder Huaijun Chen sold 3,565,217 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $10.25, for a total transaction of $36,543,474.25. Following the completion of the transaction, the insider now owns 534,783 shares in the company, valued at $5,481,525.75. The trade was a 86.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas Hartfield sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $10.62, for a total transaction of $53,100.00. Following the sale, the director now directly owns 59,181 shares of the company’s stock, valued at $628,502.22. The trade was a 7.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,098,943 shares of company stock worth $62,522,303 in the last three months. 51.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Landsea Homes

A number of large investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Landsea Homes by 4.3% in the 2nd quarter. Rhumbline Advisers now owns 20,755 shares of the company’s stock worth $191,000 after purchasing an additional 862 shares in the last quarter. American Century Companies Inc. boosted its holdings in Landsea Homes by 2.0% in the second quarter. American Century Companies Inc. now owns 232,997 shares of the company’s stock worth $2,141,000 after acquiring an additional 4,494 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Landsea Homes by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,050,926 shares of the company’s stock worth $9,658,000 after acquiring an additional 24,157 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Landsea Homes by 69.6% during the second quarter. Hsbc Holdings PLC now owns 17,702 shares of the company’s stock valued at $159,000 after acquiring an additional 7,265 shares in the last quarter. Finally, Aristeia Capital L.L.C. purchased a new position in shares of Landsea Homes in the 2nd quarter valued at approximately $670,000. 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.