Bank of New York Mellon Corp Sells 2,641 Shares of Landsea Homes Co. (NASDAQ:LSEA)

Bank of New York Mellon Corp trimmed its position in shares of Landsea Homes Co. (NASDAQ:LSEA) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 87,615 shares of the company’s stock after selling 2,641 shares during the quarter. Bank of New York Mellon Corp owned about 0.24% of Landsea Homes worth $805,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Byrne Asset Management LLC acquired a new position in shares of Landsea Homes in the 2nd quarter valued at $32,000. Boston Partners increased its holdings in shares of Landsea Homes by 22.9% in the first quarter. Boston Partners now owns 17,780 shares of the company’s stock valued at $258,000 after purchasing an additional 3,313 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Landsea Homes by 17.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 211,789 shares of the company’s stock valued at $3,077,000 after purchasing an additional 31,480 shares during the period. Hood River Capital Management LLC raised its stake in shares of Landsea Homes by 82.3% in the first quarter. Hood River Capital Management LLC now owns 482,339 shares of the company’s stock worth $7,008,000 after purchasing an additional 217,767 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Landsea Homes by 20.4% during the first quarter. Acadian Asset Management LLC now owns 701,711 shares of the company’s stock worth $10,191,000 after purchasing an additional 118,802 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Landsea Homes Stock Down 4.2 %

NASDAQ:LSEA opened at $13.10 on Monday. Landsea Homes Co. has a 52 week low of $7.00 and a 52 week high of $14.91. The stock’s fifty day moving average is $11.73 and its two-hundred day moving average is $11.21. The stock has a market capitalization of $473.94 million, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 0.80 and a beta of 1.11. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.79.

Landsea Homes (NASDAQ:LSEA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.36 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $336.20 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Research analysts anticipate that Landsea Homes Co. will post 1.45 EPS for the current year.

Insider Buying and Selling

In other Landsea Homes news, Director Elias Farhat sold 60,000 shares of Landsea Homes stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $12.07, for a total transaction of $724,200.00. Following the transaction, the director now owns 272,685 shares of the company’s stock, valued at $3,291,307.95. The transaction was disclosed in a filing with the SEC, which is available at this link. 51.00% of the stock is owned by company insiders.

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.