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

Landsea Homes Co. (NASDAQ:LSEA) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 889,900 shares, a decrease of 34.6% from the November 30th total of 1,360,000 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average trading volume of 278,200 shares, the days-to-cover ratio is presently 3.2 days.

Insider Transactions at Landsea Homes

In other Landsea Homes news, major shareholder Huaijun Chen sold 3,565,217 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was 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 in the company, valued at $5,481,525.75. This trade represents a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ming Tian sold 2,521,740 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $10.25, for a total transaction of $25,847,835.00. Following the sale, the director now directly owns 6,543,411 shares of the company’s stock, valued at approximately $67,069,962.75. This represents a 27.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,098,943 shares of company stock valued at $62,522,303. 51.00% of the stock is owned by insiders.

Institutional Trading of Landsea Homes

Institutional investors have recently modified their holdings of the company. Signaturefd LLC acquired a new position in shares of Landsea Homes in the second quarter valued at $28,000. Point72 Asset Management L.P. bought a new stake in Landsea Homes in the 2nd quarter valued at $31,000. Gladius Capital Management LP acquired a new position in shares of Landsea Homes in the 3rd quarter valued at $32,000. Quarry LP bought a new position in shares of Landsea Homes during the 3rd quarter worth about $44,000. Finally, Algert Global LLC boosted its position in shares of Landsea Homes by 16.0% during the 2nd quarter. Algert Global LLC now owns 13,043 shares of the company’s stock valued at $120,000 after acquiring an additional 1,798 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley restated a “buy” rating and set a $18.00 price target (up from $17.00) on shares of Landsea Homes in a report on Tuesday, November 5th.

Landsea Homes Stock Performance

Shares of NASDAQ:LSEA traded down $0.11 on Monday, hitting $8.59. 160,471 shares of the company were exchanged, compared to its average volume of 222,580. 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 company’s 50 day moving average price is $10.58 and its two-hundred day moving average price is $10.95. Landsea Homes has a one year low of $8.28 and a one year high of $14.91. The firm has a market capitalization of $311.67 million, a price-to-earnings ratio of 11.93, a PEG ratio of 0.71 and a beta of 1.15.

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.