Landsea Homes (NASDAQ:LSEA) Issues Earnings Results

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

Landsea Homes Price Performance

Shares of LSEA stock traded down $0.31 during trading hours on Thursday, reaching $9.84. The stock had a trading volume of 326,986 shares, compared to its average volume of 216,877. The stock’s fifty day simple moving average is $12.49 and its 200 day simple moving average is $11.52. The firm has a market capitalization of $355.72 million, a PE ratio of 12.83 and a beta of 1.11. Landsea Homes has a 12 month low of $7.00 and a 12 month high of $14.91. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.34.

Wall Street Analysts Forecast Growth

LSEA has been the topic of several recent analyst reports. Barclays dropped their target price on shares of Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday. Wedbush reissued an “outperform” rating and issued a $16.00 price objective on shares of Landsea Homes in a research report on Wednesday.

Insider Buying and Selling

In other news, COO Michael Forsum purchased 17,241 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $11.60 per share, with a total value of $199,995.60. Following the completion of the acquisition, the chief operating officer now owns 446,682 shares in the company, valued at approximately $5,181,511.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Landsea Homes 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 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 filing with the SEC, which is available at the SEC website. Also, COO Michael Forsum acquired 17,241 shares of Landsea Homes stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $11.60 per share, for a total transaction of $199,995.60. Following the completion of the transaction, the chief operating officer now directly owns 446,682 shares in the company, valued at approximately $5,181,511.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 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.