Landsea Homes (NASDAQ:LSEA) Announces Quarterly Earnings Results

Landsea Homes (NASDAQ:LSEA) issued its earnings results on Wednesday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07), Zacks reports. The firm had revenue of $294.04 million during the quarter, compared to analyst estimates of $277.30 million. Landsea Homes had a net margin of 2.42% and a return on equity of 6.80%. During the same quarter in the prior year, the firm posted $0.18 EPS.

Landsea Homes Trading Down 3.1 %

Shares of Landsea Homes stock traded down $0.31 on Thursday, hitting $9.84. 326,986 shares of the company’s stock traded hands, compared to its average volume of 216,877. Landsea Homes has a one year low of $7.00 and a one year high of $14.91. 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 capitalization of $355.72 million, a PE ratio of 12.83 and a beta of 1.11. The firm’s 50-day moving average price is $12.49 and its two-hundred day moving average price is $11.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of Landsea Homes in a research report on Wednesday. Barclays dropped their target price on Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday.

Insider Buying and Selling at Landsea Homes

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