Barclays Cuts Landsea Homes (NASDAQ:LSEA) Price Target to $7.00

Landsea Homes (NASDAQ:LSEA) had its price objective decreased by investment analysts at Barclays from $9.00 to $7.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential downside of 1.69% from the stock’s current price.

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

Landsea Homes Trading Up 8.4 %

NASDAQ LSEA opened at $7.12 on Monday. The stock has a 50 day simple moving average of $8.22 and a two-hundred day simple moving average of $10.29. Landsea Homes has a fifty-two week low of $6.54 and a fifty-two week high of $14.91. The stock has a market cap of $258.33 million, a P/E ratio of 9.89, a price-to-earnings-growth ratio of 0.45 and a beta of 1.19. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.81 and a current ratio of 2.81.

Insider Buying and Selling

In other news, major shareholder Huaijun Chen sold 3,565,217 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $10.25, for a total value of $36,543,474.25. Following the sale, the insider now directly owns 534,783 shares of the company’s stock, valued at $5,481,525.75. The trade was a 86.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ming Tian sold 2,521,740 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $10.25, for a total value of $25,847,835.00. Following the transaction, the director now directly owns 6,543,411 shares of the company’s stock, valued at approximately $67,069,962.75. This trade represents a 27.82 % decrease in their position. The disclosure for this sale can be found here. 51.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Landsea Homes

A number of hedge funds have recently bought and sold shares of LSEA. Gladius Capital Management LP purchased a new position in Landsea Homes in the third quarter worth about $32,000. Summit Securities Group LLC bought a new stake in shares of Landsea Homes during the fourth quarter valued at approximately $38,000. Quarry LP purchased a new position in Landsea Homes in the 3rd quarter worth approximately $44,000. Tower Research Capital LLC TRC lifted its position in Landsea Homes by 100.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,439 shares of the company’s stock valued at $63,000 after acquiring an additional 3,721 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Landsea Homes by 17.9% during the 4th quarter. Wells Fargo & Company MN now owns 12,306 shares of the company’s stock valued at $104,000 after purchasing an additional 1,870 shares during the last quarter. Institutional investors own 82.99% 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.