Short Interest in Lennar Co. (LEN) Expands By 26.8%
Lennar Co. (NYSE:LEN) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 16,904,141 shares, a growth of 26.8% from the November 15th total of 13,332,588 shares. Based on an average trading volume of 3,579,490 shares, the short-interest ratio is currently 4.7 days. Currently, 8.4% of the shares of the company are sold short.
Several research firms have recently commented on LEN. Mizuho lowered shares of Lennar from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $59.00 to $53.00 in a research report on Tuesday, September 19th. MKM Partners restated a “neutral” rating on shares of Lennar in a research report on Tuesday, September 5th. BTIG Research upped their price target on shares of Lennar from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Wedbush restated a “neutral” rating and set a $54.00 price target on shares of Lennar in a research report on Thursday, September 14th. Finally, Royal Bank of Canada restated a “buy” rating and set a $64.00 price target on shares of Lennar in a research report on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Lennar currently has a consensus rating of “Hold” and a consensus price target of $58.14.
Lennar (LEN) opened at $61.40 on Friday. The stock has a market cap of $14,383.80, a PE ratio of 15.68, a P/E/G ratio of 1.24 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. Lennar has a 12-month low of $42.23 and a 12-month high of $63.94.
In other news, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 371,043 shares in the company, valued at $22,262,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.18% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in LEN. Fishman Jay A Ltd. MI acquired a new stake in Lennar in the 3rd quarter valued at about $1,771,000. Great Lakes Advisors LLC acquired a new stake in Lennar in the 2nd quarter valued at about $1,896,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Lennar by 2.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 658,941 shares of the construction company’s stock valued at $35,135,000 after acquiring an additional 16,959 shares during the last quarter. Greenwood Capital Associates LLC lifted its holdings in Lennar by 7.6% in the 2nd quarter. Greenwood Capital Associates LLC now owns 5,845 shares of the construction company’s stock valued at $312,000 after acquiring an additional 415 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Lennar by 17.9% in the 2nd quarter. Victory Capital Management Inc. now owns 33,473 shares of the construction company’s stock valued at $1,785,000 after acquiring an additional 5,083 shares during the last quarter. Hedge funds and other institutional investors own 81.34% of the company’s stock.
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Lennar Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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