Landsea Homes Co. (NASDAQ:LSEA) Sees Significant Decrease in Short Interest

Landsea Homes Co. (NASDAQ:LSEA) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 889,900 shares, a decline of 34.6% from the November 30th total of 1,360,000 shares. Based on an average daily volume of 278,200 shares, the short-interest ratio is currently 3.2 days. Currently, 4.2% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, B. Riley restated a “buy” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Landsea Homes in a research note on Tuesday, November 5th.

Landsea Homes Stock Performance

Shares of LSEA stock traded down $0.24 during trading hours on Friday, hitting $8.70. 283,337 shares of the company were exchanged, compared to its average volume of 222,863. 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 stock has a market capitalization of $315.66 million, a price-to-earnings ratio of 12.08, a P/E/G ratio of 0.71 and a beta of 1.15. The firm has a fifty day simple moving average of $10.58 and a 200 day simple moving average of $10.94. Landsea Homes has a 52-week low of $8.28 and a 52-week high of $14.91.

Insiders Place Their Bets

In other Landsea Homes news, major shareholder Huaijun Chen sold 3,565,217 shares of Landsea Homes stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $10.25, for a total transaction of $36,543,474.25. Following the transaction, the insider now owns 534,783 shares of the company’s stock, valued at $5,481,525.75. This trade represents a 86.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Hartfield sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $10.62, for a total value of $53,100.00. Following the completion of the transaction, the director now directly owns 59,181 shares of the company’s stock, valued at approximately $628,502.22. This represents a 7.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,098,943 shares of company stock valued at $62,522,303. Corporate insiders own 51.00% of the company’s stock.

Institutional Trading of Landsea Homes

A number of large investors have recently bought and sold shares of the company. Signaturefd LLC purchased a new position in shares of Landsea Homes during the 2nd quarter valued at $28,000. Point72 Asset Management L.P. bought a new stake in Landsea Homes in the 2nd quarter valued at about $31,000. Gladius Capital Management LP purchased a new stake in Landsea Homes during the third quarter valued at about $32,000. Quarry LP bought a new position in Landsea Homes during the third quarter worth about $44,000. Finally, Algert Global LLC increased its stake in shares of Landsea Homes by 16.0% in the second quarter. Algert Global LLC now owns 13,043 shares of the company’s stock worth $120,000 after purchasing an additional 1,798 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

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.