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Landsea Homes Corp shareholder Chen Huaijun sells $42 million in stock

Published 11/12/2024, 23:20
LSEA
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The transactions were part of a secondary offering involving Landsea Holdings Corporation, Ever Fast Holdings Limited, and B. Riley Securities, Inc. Following these sales, Huaijun no longer holds any shares in Landsea Homes Corp. While the company operates with a significant debt burden, InvestingPro data shows it maintains a FAIR financial health score, with liquid assets exceeding short-term obligations. Get deeper insights into insider transactions and 8+ additional ProTips with an InvestingPro subscription. While the company operates with a significant debt burden, InvestingPro data shows it maintains a FAIR financial health score, with liquid assets exceeding short-term obligations. Get deeper insights into insider transactions and 8+ additional ProTips with an InvestingPro subscription.

The transactions were part of a secondary offering involving Landsea Holdings Corporation, Ever Fast Holdings Limited, and B. Riley Securities, Inc. Following these sales, Huaijun no longer holds any shares in Landsea Homes Corp.

In other recent news, Landsea Homes Corporation reported a significant growth in its third quarter, with a 29% year-over-year increase in net income, reaching $11.1 million. Earnings per share also rose by 36% to $0.30, and home sales revenue experienced a 26% boost, hitting $325.6 million. This was attributed to a 40% increase in deliveries, totaling 629 homes.

Additionally, Landsea Homes announced the pricing of a public offering of shares held by its stockholders, aiming to raise roughly $62.4 million. The company also entered into a settlement agreement with Landsea Holdings Corporation, resolving previous service-related claims with a payment of approximately $4.3 million.

For future expectations, Landsea Homes is projecting full-year deliveries to be between 2,890 and 3,000 units, with average sales prices estimated between $520,000 and $535,000. The company also aims to reduce its debt-to-capital ratio to the mid-40% range by the end of Q1 2025. These are recent developments that suggest a positive outlook for the company's future performance.

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