Short Interest in Landsea Homes Co. (NASDAQ:LSEA) Increases By 31.1%

Landsea Homes Co. (NASDAQ:LSEA) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 1,010,000 shares, a growth of 31.1% from the February 28th total of 770,500 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average daily volume of 348,700 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Trading of Landsea Homes

A number of large investors have recently added to or reduced their stakes in LSEA. Summit Securities Group LLC bought a new position in shares of Landsea Homes during the 4th quarter valued at approximately $38,000. Quarry LP bought a new stake in shares of Landsea Homes in the 3rd quarter worth approximately $44,000. Tower Research Capital LLC TRC lifted its stake in Landsea Homes by 100.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,439 shares of the company’s stock valued at $63,000 after purchasing an additional 3,721 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Landsea Homes by 17.9% during the fourth 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 period. Finally, SG Americas Securities LLC increased its position in Landsea Homes by 30.5% in the fourth quarter. SG Americas Securities LLC now owns 13,175 shares of the company’s stock worth $112,000 after buying an additional 3,080 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Landsea Homes Stock Performance

Shares of Landsea Homes stock traded up $0.18 during trading hours on Wednesday, hitting $6.42. 241,836 shares of the company’s stock traded hands, compared to its average volume of 332,033. The stock has a market capitalization of $233.24 million, a price-to-earnings ratio of 8.92, a PEG ratio of 0.45 and a beta of 1.28. Landsea Homes has a 12-month low of $6.16 and a 12-month high of $14.04. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.81 and a quick ratio of 2.81. The company has a fifty day simple moving average of $7.66 and a 200-day simple moving average of $9.55.

Analysts Set New Price Targets

LSEA has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Landsea Homes from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Wedbush reiterated an “outperform” rating and set a $15.00 price target on shares of Landsea Homes in a research note on Wednesday, March 5th.

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.