Len Sturm, a director at Dream Finders Homes, Inc., acquired 500 Class A common shares of the company for a total of $7,390 in two separate transactions. On August 21, Sturm bought 250 shares at $14.81 each, followed by another 250 shares on August 24 at $14.75 per share, according to regulatory filings.
The purchases bring Sturm’s direct holdings in Dream Finders Homes to 28,228 shares. The company’s stock, listed on the NASDAQ under ticker DFH, was trading at $14.76 on Friday, down 50% from a year ago and 53% below its 52-week high of $31.50. The stock’s price-to-earnings ratio stands at 10.33, and the company has remained profitable over the past 12 months.
Dream Finders Homes, which agreed to acquire Beazer Homes USA, Inc. for $33.50 per share in a deal valued at approximately $2.2 billion, also disclosed recent financial updates from Beazer Homes. The homebuilder reported a net loss of $4.2 million in the third quarter, wider than the $0.3 million loss a year earlier, despite revenue of $516.31 million that slightly exceeded analyst estimates of $510.56 million.
Beazer Homes’ residential construction revenue fell 8.3% year-over-year to $490.9 million, while home deliveries declined 13.4%. The average selling price rose 5.9% to $547,800. The transaction with Dream Finders Homes includes an existing $1.5 billion unsecured revolving credit facility, with an accordion feature allowing commitments to expand up to $2.0 billion subject to additional lender commitments and customary conditions.
