Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$16.73, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Consumer Durables industry in the US. Total loss to shareholders of 30% over the past three years. Recent Insider Transactions • Jun 21
Insider recently sold US$2.0m worth of stock On the 12th of June, William Lovett sold around 137k shares on-market at roughly US$14.90 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$24m more than they bought in the last 12 months. Live News • Jun 05
Dream Finders Homes Appoints Industry Veteran Clint Szubinski as Chief Operating Officer Dream Finders Homes appointed Clint Szubinski as Chief Operating Officer, effective June 2.
Szubinski brings more than two decades of homebuilding leadership experience, including senior executive roles at Meritage Homes Corporation where he served as EVP and COO.
He will work alongside National President Doug Moran to transition teams and responsibilities while guiding the company’s overall vision and operational performance as it grows across multiple U.S. markets.
A key takeaway is that Dream Finders Homes is putting additional experienced leadership in place as it scales operations in several regions, which may influence how efficiently it manages growth and execution.
Investors may want to watch how responsibilities are divided between the COO and National President over the coming quarters, as clarity and effectiveness in this leadership structure can affect margins, project delivery and overall consistency across markets. Announcement • Jun 02
Dream Finders Homes, Inc. Announces Executive Changes Dream Finders Homes, Inc. announced the appointment of Clint Szubinski as Chief Operating Officer . Mr. Szubinski, a seasoned executive with more than two decades of homebuilding leadership experience, will work alongside National President – formerly COO, Doug Moran to transition teams and responsibilities. Mr. Moran will continue to provide guidance and support for the ongoing success and growth of Dream Finders Homes. Mr. Szubinski will assume responsibility for directing the strategic vision and operational performance of the Company. Mr. Szubinski brings an extensive and distinguished career in the homebuilding industry, having held senior leadership roles at several of the nation's largest publicly traded homebuilders. Most recently, he served as Executive Vice President and Chief Operating Officer at Meritage Homes Corporation, where he oversaw enterprise-wide operations and contributed to the company's national growth strategy. Prior to that role, he served as President of Meritage Homes'East Region, with oversight of operations across Georgia, Tennessee, North Carolina and South Carolina. His earlier career included the role of Southeast Region President at CalAtlantic Group Inc., Group President at K. Hovnanian Homes, Florida Region President and Orlando Division President, both at Meritage Homes and Division President – Gulf Coast at KB Home. Mr. Szubinski began his career in homebuilding at Centex. He holds degrees in political science, business administration and law from Louisiana State University. The appointment reflects Dream Finders Homes’ continued investment in senior leadership talent as the Company expands its presence across the Southeast, Mid-Atlantic and Midwest markets. Dream Finders Homes currently builds single-family homes and communities in Florida, Texas, Tennessee, North Carolina, South Carolina, Georgia, Colorado, Arizona and the Washington, D.C. metropolitan area. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$14.59, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Consumer Durables industry in the US. Total loss to shareholders of 19% over the past three years. Announcement • May 11
Dream Finders Homes, Inc. (NYSE:DFH) proposed to acquire Beazer Homes USA, Inc. (NYSE:BZH) for approximately $730 million. Dream Finders Homes, Inc. (NYSE:DFH) proposed to acquire Beazer Homes USA, Inc. (NYSE:BZH) for approximately $730 million on May 5, 2026. A cash consideration valued at $25.75 per share will be paid by Dream Finders Homes, Inc. Kennedy Lewis has provided Dream Finders with a highly confident letter in connection with land bank financing related to the proposed transaction. Dream Finders has also obtained letters from Goldman Sachs & Co. LLC and BofA Securities stating that they are highly confident that financing for the transaction can be arranged in the capital markets.
The transaction is subject to consummation of due diligence investigation and definitive agreement. The deal has been approved by Dream Finders Homes, Inc. board.
Goldman Sachs & Co. LLC acted as financial advisor for Dream Finders Homes, Inc. BofA Merrill Lynch International Limited acted as financial advisor for Dream Finders Homes, Inc. Zelman & Associates LLC, Investment Banking arm acted as financial advisor for Dream Finders Homes, Inc. Vestra Advisors LLC acted as financial advisor for Dream Finders Homes, Inc. Foley & Lardner LLP acted as legal advisor and Edelman Smithfield acting as strategic communications advisor for Dream Finders Homes, Inc. New Risk • May 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (3.8% net profit margin). Reported Earnings • May 01
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: US$0.14 (down from US$0.55 in 1Q 2025). Revenue: US$887.8m (down 10% from 1Q 2025). Net income: US$13.3m (down 74% from 1Q 2025). Profit margin: 1.5% (down from 5.2% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 7.4%. Earnings per share (EPS) missed analyst estimates by 37%. Revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Consumer Durables industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 2% per year. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$15.65, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Consumer Durables industry in the US. Total returns to shareholders of 7.2% over the past three years. Price Target Changed • Apr 20
Price target decreased by 22% to US$18.00 Down from US$23.00, the current price target is provided by 1 analyst. New target price is 15% above last closing price of US$15.72. Stock is down 25% over the past year. The company is forecast to post earnings per share of US$1.36 for next year compared to US$2.19 last year. Announcement • Apr 17
Dream Finders Homes, Inc., Annual General Meeting, Jun 08, 2026 Dream Finders Homes, Inc., Annual General Meeting, Jun 08, 2026. Location: located at 14701 philips highway, jacksonvile, florida 32256 in suite 300., United States Announcement • Apr 16
Reverie Active Adult by Dream Finders Homes Celebrates Grand Opening of Reverie At Parkhaven in Hermitage Reverie Active Adult by Dream Finders Homes recently celebrated the grand opening of Reverie at Parkhaven, a new 55+ community in Hermitage, Tennessee, just outside of Nashville. Held on March 13, the event marked the official debut of the community, helped launch strong initial sales momentum, and represented an important milestone as the first Reverie community in Tennessee. Reverie continues to expand its active adult footprint with communities in Tennessee, Florida, and Colorado. Located within the gated Parkhaven master-planned community, Reverie at Parkhaven brings a new active adult offering to one of the Nashville area's growing residential corridors. The community features a limited opportunity with only 200 homesites, giving buyers access to a more intimate 55+ neighborhood within the larger Parkhaven setting. Reverie at Parkhaven offers seven floor plans, with homes starting from the $500s. The community features three model homes, giving prospective buyers an opportunity to experience the home designs and lifestyle offering firsthand. Homes include both front-loaded and alley-loaded options with front porch living, adding to the neighborhood's character and appeal. One of the defining features of Reverie at Parkhaven is its setting. Located near the Cumberland River, the community includes elevated homesites with views of rolling hills, treetops, and surrounding nature. With long vistas throughout the neighborhood and distinct topography across the homesites, no two homesites are the same. The March 13 grand opening gave prospective homebuyers and guests an opportunity to tour the community, explore the model homes, and see firsthand Parkhaven's community amenities that are completed and ready to be enjoyed. These include a clubhouse, fitness center, pickleball courts, bocce courts, walking trails, fire pits, and gathering spaces that support the community's active adult lifestyle offering. Reverie Active Adult by Dream Finders Homes continues to expand its presence in key markets with communities designed specifically for 55+ homebuyers. Reverie at Parkhaven reflects that continued growth, offering a new opportunity for active adult buyers seeking a connected location, scenic homesites, and a quaint neighborhood setting just outside of Nashville. Major Estimate Revision • Apr 15
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from US$1.58 to US$1.36. Revenue forecast unchanged from US$4.27b at last update. Net income forecast to shrink 21% next year vs 7.2% decline forecast for Consumer Durables industry in the US. Consensus price target of US$22.00 unchanged from last update. Share price fell 5.0% to US$13.47 over the past week. Announcement • Apr 03
Reverie Active Adult By Dream Finders Homes Announces Reverie At Solaeris, A New 55+ Community Coming To Port St. Lucie Reverie Active Adult by Dream Finders Homes has announced Reverie at Solaeris, a new 55+ community coming soon to Port St. Lucie, Florida, within the Solaeris master-planned community. Land development is underway, with a grand opening anticipated in Spring 2027. Planned for approximately 1,000 homes, Reverie at Solaeris will feature three collections of homes ranging from approximately 1,475 square feet to over 3,000 square feet. The community is expected to include 10 model homes and a dedicated sales and welcome center. Homes are designed for today's active adult buyer, with open layouts, strong indoor-outdoor connectivity, and flexible spaces that support how people live and entertain. The community will be anchored by a 16,000-square-foot clubhouse, with plans for fitness and aerobics space, a resort-style pool and spa, pickleball courts, and bocce courts. Located along Florida's Treasure Coast, Reverie at Solaeris offers convenient access to golf, recreation, dining, and coastal destinations. Board Change • Mar 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Will Weatherford was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 23
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: US$2.33 (down from US$3.44 in FY 2024). Revenue: US$4.32b (down 2.9% from FY 2024). Net income: US$217.2m (down 33% from FY 2024). Profit margin: 5.0% (down from 7.2% in FY 2024). Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) missed analyst estimates by 3.6%. Revenue is expected to decline by 4.8% p.a. on average during the next 2 years, while revenues in the Consumer Durables industry in the US are expected to grow by 4.4%. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$21.05, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Consumer Durables industry in the US. Total returns to shareholders of 69% over the past three years. Recent Insider Transactions • Jan 25
Insider recently sold US$1.4m worth of stock On the 22nd of January, William Lovett sold around 72k shares on-market at roughly US$19.51 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$24m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$19.91, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Consumer Durables industry in the US. Total returns to shareholders of 96% over the past three years. Announcement • Nov 08
Dream Finders Homes, Inc. (NYSE:DFH), Ssp Gp Fund Ii, Lp, a fund managed by South Street Partners LLC, and Pat Battle acquired Sawgrass Marriott Golf Resort & Spa for approximately $150 million. Dream Finders Homes, Inc. (NYSE:DFH), Ssp Gp Fund Ii, Lp, a fund managed by South Street Partners LLC, and Pat Battle acquired Sawgrass Marriott Golf Resort & Spa for approximately $150 million on November 6, 2025. The acquisition financing was provided by BDT & MSD Partners' affiliated funds.
Dream Finders Homes, Inc. (NYSE:DFH), Ssp Gp Fund Ii, Lp, a fund managed by South Street Partners LLC, and Pat Battle completed the acquisition of Sawgrass Marriott Golf Resort & Spa on November 6, 2025. New Risk • Oct 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 4.5% per year for the foreseeable future. Minor Risk Significant insider selling over the past 3 months (US$9.6m sold). Reported Earnings • Oct 31
Third quarter 2025 earnings: EPS in line with expectations, revenues disappoint Third quarter 2025 results: EPS: US$0.51 (down from US$0.72 in 3Q 2024). Revenue: US$969.8m (down 3.7% from 3Q 2024). Net income: US$47.0m (down 30% from 3Q 2024). Profit margin: 4.8% (down from 6.7% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.9% growth forecast for the Consumer Durables industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Oct 30
Insider recently sold US$1.2m worth of stock On the 27th of October, William Lovett sold around 50k shares on-market at roughly US$23.40 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$3.0m. Insiders have been net sellers, collectively disposing of US$34m more than they bought in the last 12 months. Recent Insider Transactions • Oct 18
Insider recently sold US$1.8m worth of stock On the 14th of October, William Lovett sold around 75k shares on-market at roughly US$23.62 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$3.0m. Insiders have been net sellers, collectively disposing of US$35m more than they bought in the last 12 months. Price Target Changed • Oct 12
Price target decreased by 7.3% to US$25.50 Down from US$27.50, the current price target is an average from 2 analysts. New target price is 8.8% above last closing price of US$23.44. Stock is down 28% over the past year. The company is forecast to post earnings per share of US$2.39 for next year compared to US$3.44 last year. Recent Insider Transactions • Oct 06
Founder recently sold US$370k worth of stock On the 2nd of October, Patrick Zalupski sold around 14k shares on-market at roughly US$25.99 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$3.0m. Patrick has been a net seller over the last 12 months, reducing personal holdings by US$17m. Recent Insider Transactions • Sep 19
Founder recently sold US$621k worth of stock On the 16th of September, Patrick Zalupski sold around 22k shares on-market at roughly US$28.40 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$3.0m. Patrick has been a net seller over the last 12 months, reducing personal holdings by US$19m. Major Estimate Revision • Sep 12
Consensus EPS estimates fall by 31% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from US$3.45 to US$2.39 per share. Revenue forecast steady at US$4.68b. Net income forecast to shrink 18% next year vs 4.8% decline forecast for Consumer Durables industry in the US. Consensus price target broadly unchanged at US$26.00. Share price fell 5.9% to US$29.11 over the past week. New Risk • Sep 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 4.5% per year for the foreseeable future. Minor Risk Significant insider selling over the past 3 months (US$12m sold). Recent Insider Transactions • Aug 31
Founder recently sold US$311k worth of stock On the 27th of August, Patrick Zalupski sold around 11k shares on-market at roughly US$28.43 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$2.6m. Patrick has been a net seller over the last 12 months, reducing personal holdings by US$20m. Recent Insider Transactions • Aug 15
Founder recently sold US$557k worth of stock On the 13th of August, Patrick Zalupski sold around 21k shares on-market at roughly US$26.76 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$2.6m. Patrick has been a net seller over the last 12 months, reducing personal holdings by US$23m. Price Target Changed • Aug 01
Price target decreased by 8.6% to US$26.50 Down from US$29.00, the current price target is an average from 2 analysts. New target price is 5.4% above last closing price of US$25.14. Stock is down 11% over the past year. The company is forecast to post earnings per share of US$3.45 for next year compared to US$3.44 last year. Reported Earnings • Aug 01
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: US$0.60 (down from US$0.83 in 2Q 2024). Revenue: US$1.15b (up 9.0% from 2Q 2024). Net income: US$56.6m (down 27% from 2Q 2024). Profit margin: 4.9% (down from 7.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 8.1%. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 2.4% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Consumer Durables industry in the US. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jul 08
Insider recently sold US$2.6m worth of stock On the 3rd of July, William Lovett sold around 100k shares on-market at roughly US$26.48 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$45m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$24.52, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Consumer Durables industry in the US. Total returns to shareholders of 92% over the past three years. Reported Earnings • May 07
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: US$0.59 (up from US$0.55 in 1Q 2024). Revenue: US$989.9m (up 20% from 1Q 2024). Net income: US$54.9m (up 7.4% from 1Q 2024). Profit margin: 5.5% (down from 6.2% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 7.7%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Consumer Durables industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Apr 19
Dream Finders Homes, Inc., Annual General Meeting, Jun 09, 2025 Dream Finders Homes, Inc., Annual General Meeting, Jun 09, 2025. Location: our headquarters, located at 14701 philips highway, florida 32256 in suite 300., jacksonville United States Major Estimate Revision • Apr 17
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from US$3.43 to US$2.90 per share. Revenue forecast steady at US$4.68b. Net income forecast to shrink 9.1% next year vs 1.3% growth forecast for Consumer Durables industry in the US . Consensus price target down from US$29.00 to US$27.00. Share price was steady at US$21.49 over the past week. Price Target Changed • Apr 16
Price target decreased by 8.5% to US$27.00 Down from US$29.50, the current price target is an average from 2 analysts. New target price is 29% above last closing price of US$20.94. Stock is down 39% over the past year. The company is forecast to post earnings per share of US$2.90 for next year compared to US$3.44 last year. Recent Insider Transactions • Mar 17
Founder recently sold US$1.1m worth of stock On the 11th of March, Patrick Zalupski sold around 41k shares on-market at roughly US$26.19 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Patrick has been a net seller over the last 12 months, reducing personal holdings by US$35m. Reported Earnings • Feb 26
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: US$3.59 (up from US$3.04 in FY 2023). Revenue: US$4.45b (up 19% from FY 2023). Net income: US$335.3m (up 19% from FY 2023). Profit margin: 7.5% (in line with FY 2023). Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 4.7%. Revenue is forecast to grow 2.0% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Consumer Durables industry in the US. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Dec 22
Founder recently sold US$986k worth of stock On the 18th of December, Patrick Zalupski sold around 37k shares on-market at roughly US$26.90 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$5.4m. Patrick has been a net seller over the last 12 months, reducing personal holdings by US$42m. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$25.38, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Consumer Durables industry in the US. Total returns to shareholders of 33% over the past three years. Recent Insider Transactions • Dec 11
Independent Director recently sold US$548k worth of stock On the 6th of December, William Lovett sold around 18k shares on-market at roughly US$30.99 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$5.4m. Insiders have been net sellers, collectively disposing of US$67m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Dec 08
Founder exercised options and sold US$1.5m worth of stock On the 4th of December, Patrick Zalupski exercised options to acquire 47k shares at no cost and sold these for an average price of US$32.93 per share. This trade did not impact their existing holding. For the year to December 2020, Patrick's total compensation was 10% salary and 90% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2023, Patrick's direct individual holding has decreased from 61.06m shares to 59.75m. Company insiders have collectively sold US$69m more than they bought, via options and on-market transactions in the last 12 months. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$31.65, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Consumer Durables industry in the US. Total returns to shareholders of 83% over the past three years. Recent Insider Transactions • Nov 07
Independent Director recently sold US$712k worth of stock On the 5th of November, William Lovett sold around 22k shares on-market at roughly US$31.91 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$3.4m. Insiders have been net sellers, collectively disposing of US$58m more than they bought in the last 12 months. Reported Earnings • Nov 01
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: US$0.76 (down from US$0.79 in 3Q 2023). Revenue: US$1.01b (up 12% from 3Q 2023). Net income: US$70.7m (down 3.4% from 3Q 2023). Profit margin: 7.0% (down from 8.2% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Consumer Durables industry in the US. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 23% per year. Announcement • Oct 24
Dream Finders Homes, Inc. (NYSE:DFH) entered into a definitive agreement to acquire Alliant National Title Insurance Company, Inc. from Presidio Investors Atc Holdco, LLC. Dream Finders Homes, Inc. (NYSE:DFH) entered into a definitive agreement to acquire Alliant National Title Insurance Company, Inc. from Presidio Investors Atc Holdco, LLC on October 23, 2024. The transaction is subject to closing conditions, including insurance regulatory approvals. Recent Insider Transactions • Oct 23
Independent Director recently sold US$934k worth of stock On the 18th of October, William Lovett sold around 27k shares on-market at roughly US$34.42 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$3.4m. Insiders have been net sellers, collectively disposing of US$54m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Oct 20
Independent Director notifies of intention to sell stock William Lovett intends to sell 412k shares in the next 90 days after lodging an Intent To Sell Form on the 17th of October. If the sale is conducted around the recent share price of US$33.25, it would amount to US$14m. Since December 2023, William's direct individual holding has decreased from 5.08m shares to 4.70m. Company insiders have collectively sold US$55m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Oct 15
Founder recently sold US$1.1m worth of stock On the 10th of October, Patrick Zalupski sold around 34k shares on-market at roughly US$32.64 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$3.4m. Patrick has been a net seller over the last 12 months, reducing personal holdings by US$34m. Recent Insider Transactions • Oct 08
Independent Director recently sold US$888k worth of stock On the 4th of October, William Lovett sold around 26k shares on-market at roughly US$34.38 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$3.4m. Insiders have been net sellers, collectively disposing of US$52m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$37.25, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Consumer Durables industry in the US. Total returns to shareholders of 107% over the past three years. Recent Insider Transactions Derivative • Sep 15
Independent Director notifies of intention to sell stock William Lovett intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of September. If the sale is conducted around the recent share price of US$31.07, it would amount to US$3.1m. Since December 2023, William's direct individual holding has decreased from 5.08m shares to 4.88m. Company insiders have collectively sold US$43m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Sep 11
Independent Director recently sold US$604k worth of stock On the 6th of September, William Lovett sold around 20k shares on-market at roughly US$30.27 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$3.1m. Insiders have been net sellers, collectively disposing of US$42m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Aug 28
Founder notifies of intention to sell stock Patrick Zalupski intends to sell 500k shares in the next 90 days after lodging an Intent To Sell Form on the 26th of August. If the sale is conducted around the recent share price of US$33.19, it would amount to US$17m. For the year to December 2020, Patrick's total compensation was 10% salary and 90% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2023, Patrick's direct individual holding has decreased from 61.06m shares to 60.34m. Company insiders have collectively sold US$39m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Aug 28
Independent Director recently sold US$1.4m worth of stock On the 23rd of August, William Lovett sold around 44k shares on-market at roughly US$32.25 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$2.0m. Insiders have been net sellers, collectively disposing of US$38m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$33.61, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Consumer Durables industry in the US. Total returns to shareholders of 64% over the past three years. Recent Insider Transactions • Aug 19
Founder recently sold US$904k worth of stock On the 15th of August, Patrick Zalupski sold around 31k shares on-market at roughly US$28.78 per share. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$2.0m. Patrick has been a net seller over the last 12 months, reducing personal holdings by US$25m. Recent Insider Transactions Derivative • Aug 16
Founder notifies of intention to sell stock Patrick Zalupski intends to sell 1m shares in the next 90 days after lodging an Intent To Sell Form on the 14th of August. If the sale is conducted around the recent share price of US$28.65, it would amount to US$29m. For the year to December 2020, Patrick's total compensation was 10% salary and 90% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2023, Patrick's direct individual holding has decreased from 61.06m shares to 60.37m. Company insiders have collectively sold US$37m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Aug 02
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: US$0.86 (up from US$0.70 in 2Q 2023). Revenue: US$1.06b (up 12% from 2Q 2023). Net income: US$80.9m (up 24% from 2Q 2023). Profit margin: 7.7% (up from 6.9% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Consumer Durables industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Aug 02
Dream Finders Homes, Inc. (NYSE:DFH) acquired remaining 40% stake in Jet HomeLoans LP for $9.3 million. Dream Finders Homes, Inc. (NYSE:DFH) acquired remaining 40% stake in Jet HomeLoans LP for $9.3 million on July 1, 2024. Jet HL generated $20 million of pre-tax earnings in 2023 and $13 million year to date through June 30, 2024.
Dream Finders Homes, Inc. (NYSE:DFH) completed the acquisition of remaining 40% stake in Jet HomeLoans LP on July 1, 2024. Recent Insider Transactions • Jul 23
Independent Director recently sold US$1.1m worth of stock On the 19th of July, William Lovett sold around 34k shares on-market at roughly US$31.11 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$35m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Jul 21
Independent Director notifies of intention to sell stock William Lovett intends to sell 600k shares in the next 90 days after lodging an Intent To Sell Form on the 18th of July. If the sale is conducted around the recent share price of US$32.00, it would amount to US$19m. Since December 2023, William's direct individual holding has decreased from 5.08m shares to 4.98m. Company insiders have collectively sold US$35m more than they bought, via options and on-market transactions in the last 12 months. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to US$30.58, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Consumer Durables industry in the US. Total returns to shareholders of 45% over the past three years. Recent Insider Transactions • Jul 11
Founder recently sold US$253k worth of stock On the 9th of July, Patrick Zalupski sold around 10k shares on-market at roughly US$25.14 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$2.2m. Patrick has been a net seller over the last 12 months, reducing personal holdings by US$22m. Recent Insider Transactions Derivative • Jul 10
Founder notifies of intention to sell stock Patrick Zalupski intends to sell 125k shares in the next 90 days after lodging an Intent To Sell Form on the 8th of July. If the sale is conducted around the recent share price of US$25.35, it would amount to US$3.2m. For the year to December 2020, Patrick's total compensation was 10% salary and 90% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2023, Patrick's direct individual holding has decreased from 61.06m shares to 60.44m. Company insiders have collectively sold US$35m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Jun 16
Founder recently sold US$568k worth of stock On the 13th of June, Patrick Zalupski sold around 21k shares on-market at roughly US$27.60 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$3.5m. Patrick has been a net seller over the last 12 months, reducing personal holdings by US$22m.