Landsea Homes (NASDAQ:LSEA) Announces Earnings Results, Misses Estimates By $0.07 EPS

Landsea Homes (NASDAQ:LSEA - Get Free Report) announced its earnings results on Wednesday. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07), Zacks reports. The business had revenue of $294.04 million for the quarter, compared to analyst estimates of $277.30 million. Landsea Homes had a return on equity of 6.80% and a net margin of 2.42%. During the same quarter in the previous year, the firm posted $0.18 EPS.

Landsea Homes Trading Down 3.1 %

Shares of NASDAQ LSEA traded down $0.31 during midday trading on Thursday, reaching $9.84. 326,986 shares of the stock were exchanged, compared to its average volume of 216,877. The company has a market capitalization of $355.72 million, a P/E ratio of 13.12 and a beta of 1.11. Landsea Homes has a 52-week low of $7.00 and a 52-week high of $14.91. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $12.49 and a 200-day moving average price of $11.52.

Analyst Ratings Changes

A number of brokerages have issued reports on LSEA. Barclays cut their target price on shares of Landsea Homes from $14.00 to $11.00 and set an "equal weight" rating for the company in a research report on Thursday. Wedbush restated an "outperform" rating and set a $16.00 target price on shares of Landsea Homes in a research report on Wednesday.

Insider Transactions at Landsea Homes

In other news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of Landsea Homes stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $11.60, for a total transaction of $32,480,000.00. Following the completion of the sale, the insider now directly owns 16,940,729 shares in the company, valued at $196,512,456.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Michael Forsum bought 17,241 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $11.60 per share, for a total transaction of $199,995.60. Following the completion of the acquisition, the chief operating officer now owns 446,682 shares in the company, valued at $5,181,511.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the business's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $11.60, for a total transaction of $32,480,000.00. Following the completion of 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. Insiders bought a total of 20,430 shares of company stock worth $236,988 over the last ninety days. 66.90% of the stock is currently owned by corporate insiders.

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.