Summit Global Investments Makes New $376,000 Investment in Landsea Homes Co. (NASDAQ:LSEA)

Summit Global Investments acquired a new position in Landsea Homes Co. (NASDAQ:LSEA) during the 4th quarter, HoldingsChannel reports. The fund acquired 28,632 shares of the company’s stock, valued at approximately $376,000.

Several other large investors also recently modified their holdings of LSEA. Bank of New York Mellon Corp lifted its holdings in Landsea Homes by 4.7% during the third 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. Byrne Asset Management LLC bought a new position in Landsea Homes in the 3rd quarter worth approximately $26,000. Jump Financial LLC purchased a new position in Landsea Homes in the 3rd quarter valued at approximately $228,000. Janney Montgomery Scott LLC raised its holdings in Landsea Homes by 29.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 83,300 shares of the company’s stock valued at $749,000 after acquiring an additional 19,050 shares during the period. Finally, Foundry Partners LLC raised its holdings in Landsea Homes by 26.8% during the 3rd quarter. Foundry Partners LLC now owns 484,355 shares of the company’s stock valued at $4,354,000 after acquiring an additional 102,279 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Insider Activity at Landsea Homes

In other Landsea Homes news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $11.60, for a total value of $32,480,000.00. Following the completion of the transaction, the insider now owns 16,940,729 shares of the company’s stock, valued at approximately $196,512,456.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, COO Michael Forsum bought 17,241 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average price of $11.60 per share, for a total transaction of $199,995.60. Following the transaction, the chief operating officer now directly owns 446,682 shares of the company’s stock, valued at approximately $5,181,511.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 16,940,729 shares in the company, valued at $196,512,456.40. The disclosure for this sale can be found here. Insiders have purchased 20,430 shares of company stock valued at $236,988 over the last three months. 51.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LSEA shares. Wedbush reiterated an “outperform” rating and issued a $16.00 price target on shares of Landsea Homes in a research report on Wednesday, May 1st. Barclays reduced their target price on Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday.

Landsea Homes Trading Down 0.6 %

Landsea Homes stock opened at $9.78 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37. Landsea Homes Co. has a fifty-two week low of $7.00 and a fifty-two week high of $14.91. The stock has a market cap of $353.84 million, a P/E ratio of 14.38 and a beta of 1.11. The firm’s fifty day moving average price is $12.42 and its 200-day moving average price is $11.58.

Landsea Homes (NASDAQ:LSEA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). The business had revenue of $294.04 million during the quarter, compared to analysts’ expectations of $277.30 million. Landsea Homes had a net margin of 2.08% and a return on equity of 6.11%. During the same period in the previous year, the business earned $0.18 EPS. Equities research analysts forecast that Landsea Homes Co. will post 1.4 earnings per share for the current fiscal year.

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.