Lennar Corporation (NYSE:LEN) Short Interest Update
by Doug Wharley · The Cerbat GemLennar Corporation (NYSE:LEN – Get Free Report) was the recipient of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 11,521,372 shares, a decrease of 67.8% from the November 30th total of 35,737,570 shares. Approximately 5.0% of the shares of the company are short sold. Based on an average trading volume of 6,762,352 shares, the days-to-cover ratio is presently 1.7 days. Based on an average trading volume of 6,762,352 shares, the days-to-cover ratio is presently 1.7 days. Approximately 5.0% of the shares of the company are short sold.
Lennar Price Performance
Shares of NYSE LEN traded down $0.33 during mid-day trading on Friday, reaching $104.76. The company’s stock had a trading volume of 1,866,914 shares, compared to its average volume of 5,975,953. The stock has a market capitalization of $26.72 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.14 and a beta of 1.38. Lennar has a 1-year low of $98.42 and a 1-year high of $144.24. The stock has a 50-day moving average of $121.02 and a two-hundred day moving average of $121.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 4.89.
Lennar (NYSE:LEN – Get Free Report) last released its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. Lennar had a net margin of 6.08% and a return on equity of 9.27%. The firm’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.03 EPS. On average, equities research analysts anticipate that Lennar will post 12.48 EPS for the current fiscal year.
Institutional Trading of Lennar
Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its position in Lennar by 7.1% in the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after purchasing an additional 85 shares during the period. Zions Bancorporation National Association UT grew its stake in shares of Lennar by 8.3% in the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock valued at $142,000 after buying an additional 86 shares in the last quarter. RFG Advisory LLC lifted its stake in Lennar by 2.1% during the 3rd quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock worth $536,000 after acquiring an additional 87 shares in the last quarter. UMB Bank n.a. boosted its holdings in Lennar by 6.2% during the 3rd quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock valued at $201,000 after acquiring an additional 93 shares during the period. Finally, ORG Wealth Partners LLC grew its position in Lennar by 5.2% in the 3rd quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock valued at $261,000 after acquiring an additional 102 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently commented on LEN. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a report on Thursday, December 4th. UBS Group dropped their price objective on shares of Lennar from $161.00 to $137.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $120.00 target price on shares of Lennar in a research note on Thursday, December 18th. Wells Fargo & Company dropped their price target on shares of Lennar from $125.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 18th. Finally, Raymond James Financial downgraded shares of Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $109.62.
View Our Latest Stock Analysis on LEN
About Lennar
Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.
In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.