Connor Clark & Lunn Investment Management Ltd. Acquires 53,619 Shares of Landsea Homes Co. (NASDAQ:LSEA)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Landsea Homes Co. (NASDAQ:LSEA) by 56.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 149,032 shares of the company’s stock after acquiring an additional 53,619 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.41% of Landsea Homes worth $1,841,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LSEA. Gladius Capital Management LP bought a new stake in shares of Landsea Homes in the third quarter worth about $32,000. Signaturefd LLC purchased a new stake in Landsea Homes during the second quarter valued at $28,000. Point72 Asset Management L.P. bought a new position in Landsea Homes during the second quarter valued at $31,000. Byrne Asset Management LLC purchased a new position in shares of Landsea Homes in the 2nd quarter worth $32,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Landsea Homes during the 3rd quarter valued at about $125,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Landsea Homes Price Performance

Shares of LSEA stock opened at $11.70 on Tuesday. The stock has a 50 day moving average price of $11.59 and a 200 day moving average price of $10.95. Landsea Homes Co. has a 52-week low of $8.28 and a 52-week high of $14.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.81 and a current ratio of 2.81. The firm has a market capitalization of $424.48 million, a P/E ratio of 16.25, a P/E/G ratio of 0.78 and a beta of 1.13.

Analyst Ratings Changes

Several equities research analysts have weighed in on LSEA shares. B. Riley reissued a “buy” rating and set a $18.00 price objective (up from $17.00) on shares of Landsea Homes in a research note on Tuesday, November 5th. Barclays increased their price target on Landsea Homes from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Wedbush raised their price target on Landsea Homes from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Oppenheimer boosted their price objective on shares of Landsea Homes from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, August 5th.

Insider Transactions at Landsea Homes

In other news, Director Thomas Hartfield sold 5,000 shares of the firm’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 transaction of $53,100.00. Following the transaction, the director now directly owns 59,181 shares of the company’s stock, valued at approximately $628,502.22. This trade represents a 7.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 51.00% 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.