Landsea Homes (NASDAQ:LSEA) Issues Earnings Results

Landsea Homes (NASDAQ:LSEA) issued its quarterly earnings data on Wednesday. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07), Zacks reports. The firm 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 company posted $0.18 earnings per share.

Landsea Homes Stock Down 3.1 %

Shares of NASDAQ LSEA traded down $0.31 during midday trading on Thursday, reaching $9.84. The company’s stock had a trading volume of 326,986 shares, compared to its average volume of 216,877. Landsea Homes has a fifty-two week low of $7.00 and a fifty-two week high of $14.91. The stock has a 50 day simple moving average of $12.49 and a 200-day simple moving average of $11.52. The stock has a market capitalization of $355.72 million, a price-to-earnings ratio of 12.83 and a beta of 1.11. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.34.

Insider Activity at Landsea Homes

In related 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 value of $32,480,000.00. Following the sale, the insider now owns 16,940,729 shares of the company’s stock, valued at $196,512,456.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Michael Forsum acquired 17,241 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were purchased at an average cost of $11.60 per share, with a total value of $199,995.60. Following the acquisition, the chief operating officer now directly owns 446,682 shares in the company, valued at approximately $5,181,511.20. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $11.60, for a total value of $32,480,000.00. Following the sale, the insider now owns 16,940,729 shares of the company’s stock, valued at $196,512,456.40. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 20,430 shares of company stock valued at $236,988. Corporate insiders own 66.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LSEA shares. Wedbush restated an “outperform” rating and issued a $16.00 price objective on shares of Landsea Homes in a research report on Wednesday. Barclays dropped their price objective on shares of Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday.

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.