Coombe Bender & Co LLC Raises Stock Position in Landsea Homes Co. (NASDAQ:LSEA)

Coombe Bender & Co LLC raised its holdings in Landsea Homes Co. (NASDAQ:LSEA) by 13.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 98,751 shares of the company’s stock after purchasing an additional 11,904 shares during the quarter. Coombe Bender & Co LLC’s holdings in Landsea Homes were worth $1,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LSEA. Byrne Asset Management LLC purchased a new position in Landsea Homes in the third quarter valued at $26,000. Bank of New York Mellon Corp raised its stake in Landsea Homes by 4.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 128,206 shares of the company’s stock valued at $1,153,000 after purchasing an additional 5,721 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Landsea Homes by 3,727.9% in the fourth quarter. New York State Common Retirement Fund now owns 10,718 shares of the company’s stock valued at $141,000 after buying an additional 10,438 shares during the last quarter. Ritholtz Wealth Management lifted its stake in Landsea Homes by 38.8% in the 4th quarter. Ritholtz Wealth Management now owns 39,758 shares of the company’s stock worth $522,000 after purchasing an additional 11,114 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Landsea Homes during the 4th quarter worth approximately $148,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Landsea Homes Trading Down 5.1 %

Shares of NASDAQ:LSEA traded down $0.52 during midday trading on Thursday, reaching $9.63. 110,323 shares of the company’s stock were exchanged, compared to its average volume of 214,255. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.37 and a quick ratio of 2.37. The stock has a market cap of $348.12 million, a price-to-earnings ratio of 13.05 and a beta of 1.11. The firm’s 50 day simple moving average is $12.49 and its two-hundred day simple moving average is $11.52. Landsea Homes Co. has a fifty-two week low of $7.00 and a fifty-two week high of $14.91.

Landsea Homes (NASDAQ:LSEA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). Landsea Homes had a net margin of 2.42% and a return on equity of 6.80%. The company had revenue of $294.04 million during the quarter, compared to analysts’ expectations of $277.30 million. During the same quarter in the previous year, the business posted $0.18 EPS. As a group, sell-side analysts forecast that Landsea Homes Co. will post 1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on LSEA. Wedbush reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Landsea Homes in a report on Wednesday. Barclays boosted their price target on shares of Landsea Homes from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 5th.

Insider Activity at Landsea Homes

In related news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $11.60, for a total value of $32,480,000.00. Following the completion of the sale, the insider now directly owns 16,940,729 shares of the company’s stock, valued at approximately $196,512,456.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Landsea Homes news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $11.60, for a total transaction of $32,480,000.00. Following the completion of the sale, the insider now directly owns 16,940,729 shares of the company’s stock, valued at approximately $196,512,456.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Forsum bought 17,241 shares of the stock in a transaction dated Friday, March 8th. The stock was purchased at an average cost of $11.60 per share, for a total transaction of $199,995.60. Following the acquisition, the chief operating officer now owns 446,682 shares of the company’s stock, valued at $5,181,511.20. The disclosure for this purchase can be found here. Insiders have purchased 20,430 shares of company stock valued at $236,988 in the last ninety days. Insiders own 66.90% 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.