Sei Investments Co. Lowers Holdings in Landsea Homes Co. (NASDAQ:LSEA)

Sei Investments Co. lowered its holdings in shares of Landsea Homes Co. (NASDAQ:LSEA) by 44.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,922 shares of the company’s stock after selling 67,579 shares during the quarter. Sei Investments Co.’s holdings in Landsea Homes were worth $780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LSEA. Signaturefd LLC bought a new stake in shares of Landsea Homes in the 2nd quarter worth about $28,000. Byrne Asset Management LLC bought a new stake in Landsea Homes during the second quarter worth approximately $32,000. Quarry LP purchased a new stake in Landsea Homes during the fourth quarter valued at approximately $90,000. Hsbc Holdings PLC lifted its stake in shares of Landsea Homes by 69.6% in the 2nd quarter. Hsbc Holdings PLC now owns 17,702 shares of the company’s stock valued at $159,000 after purchasing an additional 7,265 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Landsea Homes in the 1st quarter worth approximately $189,000. Institutional investors own 82.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Elias Farhat sold 60,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $12.07, for a total transaction of $724,200.00. Following the completion of the sale, the director now owns 272,685 shares of the company’s stock, valued at approximately $3,291,307.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 51.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on LSEA. Wedbush boosted their price objective on shares of Landsea Homes from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Oppenheimer lifted their price target on shares of Landsea Homes from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Barclays increased their price objective on shares of Landsea Homes from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd.

Landsea Homes Stock Performance

Shares of NASDAQ LSEA opened at $11.37 on Wednesday. The stock has a market cap of $411.36 million, a price-to-earnings ratio of 16.72, a PEG ratio of 0.88 and a beta of 1.11. Landsea Homes Co. has a 12 month low of $7.00 and a 12 month high of $14.91. The company has a 50 day simple moving average of $11.89 and a two-hundred day simple moving average of $11.13. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.79.

Landsea Homes (NASDAQ:LSEA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. Landsea Homes had a net margin of 1.72% and a return on equity of 6.29%. The business had revenue of $431.14 million for the quarter, compared to analysts’ expectations of $336.20 million. During the same quarter last year, the company earned $0.33 EPS. As a group, analysts predict that Landsea Homes Co. will post 1.45 earnings per share for the current year.

Landsea Homes Company Profile

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.