Bank of New York Mellon Corp Cuts Stake in Landsea Homes Co. (NASDAQ:LSEA)

Bank of New York Mellon Corp lessened its stake in Landsea Homes Co. (NASDAQ:LSEA) by 11.7% in the fourth quarter, Holdings Channel reports. The fund owned 66,385 shares of the company’s stock after selling 8,802 shares during the quarter. Bank of New York Mellon Corp’s holdings in Landsea Homes were worth $564,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of LSEA. SG Americas Securities LLC grew its holdings in Landsea Homes by 30.5% during the 4th quarter. SG Americas Securities LLC now owns 13,175 shares of the company’s stock valued at $112,000 after purchasing an additional 3,080 shares in the last quarter. Quarry LP purchased a new position in Landsea Homes in the 3rd quarter valued at about $44,000. State Street Corp grew its stake in shares of Landsea Homes by 1.4% during the third quarter. State Street Corp now owns 327,961 shares of the company’s stock valued at $4,050,000 after acquiring an additional 4,433 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Landsea Homes by 27.4% during the third quarter. Sanctuary Advisors LLC now owns 39,548 shares of the company’s stock worth $488,000 after acquiring an additional 8,496 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Landsea Homes by 5.1% in the fourth quarter. Empowered Funds LLC now owns 193,501 shares of the company’s stock valued at $1,643,000 after purchasing an additional 9,353 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Landsea Homes in a research report on Wednesday, March 5th. Barclays cut their price target on shares of Landsea Homes from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd.

Landsea Homes Price Performance

Shares of NASDAQ:LSEA opened at $6.77 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.81 and a current ratio of 2.81. Landsea Homes Co. has a 1-year low of $6.54 and a 1-year high of $14.91. The company’s fifty day moving average is $7.77 and its two-hundred day moving average is $9.70. The stock has a market capitalization of $245.95 million, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 0.45 and a beta of 1.28.

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.