These transactions were conducted under a pre-arranged trading plan, a common practice among executives to avoid potential conflicts of interest. Zalupski also retains a substantial holding of Class B common stock, totaling over 56 million shares, which can be converted into Class A shares at his discretion. The stock is currently trading near its 52-week low of $23.46. The stock is currently trading near its 52-week low of $23.46.
These transactions were conducted under a pre-arranged trading plan, a common practice among executives to avoid potential conflicts of interest. Zalupski also retains a substantial holding of Class B common stock, totaling over 56 million shares, which can be converted into Class A shares at his discretion. The stock is currently trading near its 52-week low of $23.46.
These transactions were conducted under a pre-arranged trading plan, a common practice among executives to avoid potential conflicts of interest. Zalupski also retains a substantial holding of Class B common stock, totaling over 56 million shares, which can be converted into Class A shares at his discretion.
In other recent news, Dream Finders Homes disclosed its 2023 Annual Shareholder Letter and reported third-quarter earnings per share (EPS) of $0.70, falling short of BTIG's estimate of $0.88 and the FactSet consensus of $0.84. This shortfall was attributed to lower than expected delivery volume, pricing, and gross margin, in addition to increased selling, general, and administrative expenses. Despite this, the company reaffirmed its closing guidance for the full year 2024, aiming for 8,250 closings.
Following these developments, BTIG revised its EPS forecasts for Dream Finders Homes, lowering the 2024 estimate to $3.10 from $3.30, and the 2025 estimate to $3.35 from $3.50. In response to these changes, BTIG maintained a neutral stance on Dream Finders Homes shares.
In a significant move, Dream Finders Homes announced a definitive agreement to acquire Alliant National Title Insurance Company, a move set to expand the company's operations in the title insurance sector considerably. Alliant National is known for its extensive network of over 700 independent agents across 32 states and the District of Columbia, making it the largest independent title underwriter in the nation without direct or affiliated operations. The terms of the deal remain undisclosed and are subject to customary closing conditions, including the receipt of insurance regulatory approvals.
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