Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lennar Corporation shares valued at $1,230,000 were sold by Collins David M on Jul 21. At $82.00 per share, Collins David M sold 15,000 shares. The insider’s holdings dropped to 41,382 shares worth approximately $3.2 million following the completion of this transaction.
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Also, SUSTANA MARK sold 22,000 shares, netting a total of over 1,577,180 in proceeds. Following the sale of shares at $71.69 each, the insider now holds 46,279 shares.
As published in a research note from KeyBanc Capital Markets on September 19, 2022, Lennar Corporation [LEN] has been rated up from an Underweight to an Overweight and the price target has been revised to $89. This represents a 13.0% premium over Thursday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in late August. As of August 12, 2022, Wedbush has decreased its “an Outperform” rating to a “Neutral” for LEN. Earlier on July 12, 2022, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for LEN stock which previously was a “an Overweight”.
Analyzing LEN’s Price Performance
On Thursday, Lennar Corporation [NYSE: LEN] rose 1.99% to $77.43. The stock’s lowest price that day was $76.30, but it reached a high of $78.69 in the same session. During the last five days, there has been a surge of approximately 4.89%. Over the course of the year, Lennar Corporation shares have dropped approximately -33.34%. Shares of the company reached a 52-week high of $116.36 on 01/03/22 and a 52-week low of $62.54 on 06/17/22. A 50-day SMA is recorded $81.27, while a 200-day SMA reached $85.88. Nevertheless, trading volume fell to 4.76 million shares from 2.4 million shares the previous day.
Support And Resistance Levels for Lennar Corporation (LEN)
According to the 24-hour chart, there is a support level at 76.26, which, if violated, would cause prices to drop to 75.08. In the upper region, resistance lies at 78.65. The next price resistance is at 79.86. RSI (Relative Strength Index) is 46.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.19, which suggests the price will decrease in the coming days. Percent R is at 46.49%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Lennar Corporation subject to short interest?
Stocks of Lennar Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.36 million shares to 11.72 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 10.36 million shares. A jump of 11.6% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.65 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.65.
Which companies own the most shares of Lennar Corporation (LEN)?
According to The Vanguard Group, Inc. filings, the company currently owns 27,161,031 shares, which is about 10.65% of the total LEN shares outstanding. The investor’s shares have appreciated by 127,859 from its previous 13-F filing of 27033172.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $1,184,937,833. Aristotle Capital Management LLC reduced a -2.48% interest valued at $1.15 billion while Wellington Management Co. LLP purchased a 3,632,003 stake. A total of -515,011 shares of Lennar Corporation were bought by SSgA Funds Management, Inc. during the quarter, and -1,490,473 were sold by Manulife Investment Management. In its current portfolio, Greenhaven Associates, Inc. holds 9,320,767 shares valued at $721.89 million.
In terms of Lennar Corporation share price expectations, FactSet research, analysts set an average price target of $88.53 in the next 12 months, up nearly 15.91% from the previous closing price of $75.92. Analysts anticipate Lennar Corporation stock to reach $112.00 by 2022, with the lowest price target being $72.00. In spite of this, 18 analysts ranked Lennar Corporation stock as an Overweight at the end of 2022. On April 05, 2022, Credit Suisse assigned a price target of “a Neutral” to the stock and initiated coverage with a $88.