Janney Montgomery Scott Llc, a renowned investment management firm, has recently announced that it raised its stake in Landsea Homes Co. (NASDAQ:LSEA) by a significant 277.4%. The news comes after the firm filed its most recent Form 13F with the Securities and Exchange Commission (SEC). The report shows that Janney Montgomery Scott LLC now owns 63,446 shares of the company’s stock following an additional purchase of 46,635 shares during the quarter. Consequently, Janney Montgomery Scott LLC now owns about 0.15% of Landsea Homes worth $331,000 at the end of the most recent quarter.
Landsea Homes Co., which is publicly traded as NASDAQ:LSEA, is a leading land developer and homebuilder specializing in sustainable communities located in some of the most desirable locations across the United States. Although recently missing the consensus estimate EPS by $0.09 resulting in a posted quarterly earnings result of $0.81 EPS per share for Q1 on March 7th, it is still on track to post a yearly expected result promising enough to maintain continued growth potential under analysts’ radar.
The statement made by Janney Montgomery Scott LLC highlights Landsea Homes’ promise and growth potential within its market sector despite not meeting one quarter’s estimates with NASDAQ:LSEA continuing to make strides within its industry through prudent land acquisitions and proactive home health awareness with sustainable living options as well as strong revenue outlooks posted each year.
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Landsea Homes: Attracting Hedge Fund Investment as It Builds Communities Across America
Landsea Homes: the Construction Company That’s Drawing Hedge Fund Investors
Landsea Homes Corp. is a Newport Beach, CA-based company that provides building construction services. With developments in various locations throughout America from New York to Texas, it has caught the eye of several hedge fund investors.
According to recent filings with the Securities and Exchange Commission (SEC), Coombe Bender & Co LLC added an extra 2,214 shares to their stake in Landsea in Q3 2020. Meanwhile, Boston Partners bought an additional 20,692 shares in the same period – a boost of 25.1% for its stake in the company. B. Riley Financial Inc., Charles Schwab Investment Management Inc., and Citadel Advisors LLC also increased their positions.
Overall, around 12.63% of LSEA’s stock is owned by hedge funds and institutional investors.
That said, several brokerages have commented positively on LSEA too – including B. Riley which raised its target price on Landsea from $8 to $10 in March this year following a research note.
Despite these figures, Landsea’s current share price suggests investors remain cautious about investing further: its opening price on NASDAQ:LSEA was $5.97 on Monday (March 22nd).
However interest timelines aside, LSEA shows staying power: it has market cap worth $238.62 million along with a P/E ratio of 3.90 and beta of 0.61 plus a solid presence across America with homes and communities developed in Arizona Florida as well as Boston and New York.
While some will wait and see what holding patterns develop for this portfolio choice moving forward; those who like companies in building construction may wish to purchase LSEA at its available sum today given its potential upside growth over time anchored by very real development sites nowadays spread out into major behemoth US states – ones where many individuals are flocking readily everyday due to ongoing impacts of the pandemic.
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