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

Landsea Homes (NASDAQ:LSEA) had its price objective trimmed by Barclays from $12.00 to $9.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

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

Landsea Homes Stock Performance

NASDAQ:LSEA opened at $8.05 on Thursday. Landsea Homes has a twelve month low of $7.58 and a twelve month high of $14.91. The company has a market cap of $292.05 million, a P/E ratio of 11.18, a P/E/G ratio of 0.38 and a beta of 1.20. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average price is $9.79 and its 200-day moving average price is $10.83.

Insider Buying and Selling

In other news, major shareholder Huaijun Chen sold 3,565,217 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $10.25, for a total value of $36,543,474.25. Following the completion of the sale, the insider now owns 534,783 shares of the company’s stock, valued at $5,481,525.75. This represents a 86.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas Hartfield sold 6,986 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $11.15, for a total transaction of $77,893.90. Following the sale, the director now owns 67,181 shares of the company’s stock, valued at $749,068.15. This represents a 9.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,098,943 shares of company stock worth $62,522,303. Insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Landsea Homes

Several large investors have recently modified their holdings of the business. Sanctuary Advisors LLC raised its holdings in Landsea Homes by 27.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 39,548 shares of the company’s stock valued at $488,000 after buying an additional 8,496 shares during the period. Virtu Financial LLC purchased a new stake in shares of Landsea Homes in the 3rd quarter valued at approximately $167,000. Geode Capital Management LLC lifted its holdings in shares of Landsea Homes by 13.1% in the 3rd quarter. Geode Capital Management LLC now owns 431,314 shares of the company’s stock worth $5,328,000 after acquiring an additional 49,830 shares during the last quarter. Barclays PLC boosted its position in shares of Landsea Homes by 87.0% during the 3rd quarter. Barclays PLC now owns 209,290 shares of the company’s stock worth $2,585,000 after purchasing an additional 97,391 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Landsea Homes in the 3rd quarter valued at approximately $268,000. Institutional investors and hedge funds own 82.99% 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.