Lennar Sees Unusually High Options Volume (LEN)

Lennar Co. (NYSE:LEN) was the target of unusually large options trading activity on Tuesday. Stock investors acquired 21,012 put options on the company. This is an increase of 1,788% compared to the typical volume of 1,113 put options.

LEN has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. ValuEngine cut shares of Lennar from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th. Argus lifted their target price on shares of Lennar from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 1st. Credit Suisse Group set a $81.00 target price on shares of Lennar and gave the stock a “buy” rating in a research note on Wednesday, April 4th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $62.00 target price on shares of Lennar in a research note on Thursday, April 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.31.

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Shares of Lennar opened at $51.61 on Wednesday, according to Marketbeat Ratings. Lennar has a 52-week low of $48.71 and a 52-week high of $72.17. The firm has a market cap of $16.03 billion, a PE ratio of 13.55, a P/E/G ratio of 0.55 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a current ratio of 16.40 and a quick ratio of 0.84.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Tuesday, June 26th. The construction company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $1.13. The company had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Lennar had a net margin of 6.84% and a return on equity of 11.65%. The business’s quarterly revenue was up 67.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. sell-side analysts expect that Lennar will post 4.89 EPS for the current fiscal year.

In other news, Director Jeffrey Sonnenfeld sold 2,095 shares of the firm’s stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of $62.98, for a total transaction of $131,943.10. Following the completion of the transaction, the director now directly owns 32,072 shares of the company’s stock, valued at approximately $2,019,894.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jeffrey Joseph Mccall sold 50,888 shares of Lennar stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $53.92, for a total transaction of $2,743,880.96. Following the completion of the sale, the senior vice president now directly owns 190,053 shares of the company’s stock, valued at $10,247,657.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,870 shares of company stock valued at $5,455,795. Corporate insiders own 8.50% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Dupont Capital Management Corp lifted its holdings in Lennar by 117.2% in the 1st quarter. Dupont Capital Management Corp now owns 2,791 shares of the construction company’s stock worth $165,000 after buying an additional 1,506 shares in the last quarter. Massey Quick Simon & CO. LLC lifted its holdings in Lennar by 103.1% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 2,900 shares of the construction company’s stock worth $171,000 after buying an additional 1,472 shares in the last quarter. Gotham Asset Management LLC acquired a new position in Lennar in the 4th quarter worth $207,000. Doyle Wealth Management acquired a new position in Lennar in the 1st quarter worth $209,000. Finally, Pitcairn Co. acquired a new position in Lennar in the 4th quarter worth $214,000. Hedge funds and other institutional investors own 86.22% of the company’s stock.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.

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