Lennar Sees Unusually Large Options Volume (NYSE:LEN)

Lennar Co. (NYSE:LEN) was the recipient of unusually large options trading on Thursday. Traders acquired 22,818 call options on the company. This represents an increase of approximately 1,912% compared to the average volume of 1,134 call options.

In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $49.04, for a total transaction of $980,800.00. Following the transaction, the president now owns 346,946 shares in the company, valued at approximately $17,014,231.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.43% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Lennar by 33.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 117,462 shares of the construction company’s stock valued at $5,692,000 after acquiring an additional 29,733 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Lennar in the 2nd quarter valued at approximately $213,000. Toronto Dominion Bank lifted its position in Lennar by 102.5% in the 2nd quarter. Toronto Dominion Bank now owns 424,358 shares of the construction company’s stock valued at $20,566,000 after acquiring an additional 214,809 shares in the last quarter. Atria Investments LLC lifted its position in Lennar by 8.6% in the 2nd quarter. Atria Investments LLC now owns 5,666 shares of the construction company’s stock valued at $282,000 after acquiring an additional 447 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its position in Lennar by 18.3% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 6,367 shares of the construction company’s stock valued at $309,000 after acquiring an additional 983 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on LEN shares. Zacks Investment Research cut Lennar from a “hold” rating to a “sell” rating and set a $53.00 price target on the stock. in a research report on Thursday, May 30th. Raymond James cut Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a research report on Tuesday, June 18th. They noted that the move was a valuation call. Bank of America dropped their price target on Lennar from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. BTIG Research set a $65.00 price target on Lennar and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Wedbush set a $62.00 price target on Lennar and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. Lennar has a consensus rating of “Buy” and an average price target of $57.10.

LEN stock traded down $0.96 during midday trading on Friday, hitting $53.62. The company’s stock had a trading volume of 5,066,286 shares, compared to its average volume of 3,421,188. The company has a market cap of $17.58 billion, a PE ratio of 8.44, a P/E/G ratio of 1.17 and a beta of 1.09. Lennar has a 12 month low of $37.29 and a 12 month high of $55.00. The company has a current ratio of 13.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average is $50.14 and its 200-day moving average is $50.14.

Lennar (NYSE:LEN) last released its quarterly earnings data on Tuesday, June 25th. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.17. The business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Lennar had a return on equity of 12.03% and a net margin of 8.86%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 EPS. Analysts expect that Lennar will post 5.32 earnings per share for the current year.

About Lennar

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.

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