An issue of William Lyon Homes (NYSE:WLH) debt rose 0.8% against its face value during trading on Wednesday after an insider sold shares in the company. The debt issue has a 5.875% coupon and is set to mature on January 31, 2025. The bonds in the issue are now trading at $88.50 and were trading at $87.25 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its share price. Specifically, major shareholder Gmt Capital Corp sold 166,600 shares of the stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $12.17, for a total value of $2,027,522.00. Following the completion of the sale, the insider now directly owns 3,432,042 shares in the company, valued at $41,767,951.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.13% of the stock is owned by corporate insiders.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of William Lyon Homes from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. ValuEngine cut shares of William Lyon Homes from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Citigroup cut their price objective on shares of William Lyon Homes from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, August 2nd. Finally, Wedbush cut shares of William Lyon Homes from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $35.00 to $22.00 in a research report on Thursday, September 20th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. William Lyon Homes has a consensus rating of “Hold” and an average price target of $25.25.
The stock has a market capitalization of $455.31 million, a PE ratio of 5.41 and a beta of 1.51. The company has a current ratio of 6.30, a quick ratio of 0.14 and a debt-to-equity ratio of 1.52.
Hedge funds have recently made changes to their positions in the business. Piedmont Investment Advisors LLC purchased a new position in William Lyon Homes during the second quarter worth about $152,000. Jefferies Group LLC purchased a new position in William Lyon Homes during the third quarter worth about $163,000. United Services Automobile Association purchased a new position in William Lyon Homes during the third quarter worth about $163,000. SG Americas Securities LLC purchased a new position in William Lyon Homes during the second quarter worth about $193,000. Finally, Eqis Capital Management Inc. purchased a new position in William Lyon Homes during the second quarter worth about $202,000. 81.80% of the stock is owned by institutional investors.
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William Lyon Homes Company Profile (NYSE:WLH)
William Lyon Homes, together with its subsidiaries, designs, constructs, markets, and sells single-family detached and attached homes in California, Arizona, Nevada, Colorado, Washington, and Oregon. It sells its homes primarily to entry-level, and first-time and second-time move-up homebuyers, as well as to luxury home and active adult markets under the Village Homes and Polygon Northwest Homes brands through in-house commissioned sales personnel and outside brokers.
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