Insider Selling: LGI Homes, Inc. (NASDAQ:LGIH) COO Sells 1,105 Shares of Stock

LGI Homes, Inc. (NASDAQ:LGIH) COO Michael Larry Snider sold 1,105 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $75.94, for a total transaction of $83,913.70. Following the sale, the chief operating officer now directly owns 27,102 shares of the company’s stock, valued at approximately $2,058,125.88. This represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

LGI Homes Stock Down 4.4 %

LGIH stock opened at $71.91 on Thursday. LGI Homes, Inc. has a 12-month low of $68.66 and a 12-month high of $125.83. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 8.62 and a beta of 2.13. The company has a 50 day moving average of $84.18 and a two-hundred day moving average of $98.82.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.16). LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company had revenue of $557.40 million during the quarter, compared to analysts’ expectations of $588.56 million. During the same quarter in the previous year, the company earned $2.19 EPS. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LGIH shares. JMP Securities restated a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a report on Friday, January 10th. Seaport Res Ptn upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. Wedbush restated a “neutral” rating and set a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $118.33.

Institutional Investors Weigh In On LGI Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in LGI Homes by 131.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after buying an additional 63,346 shares in the last quarter. Citigroup Inc. raised its holdings in shares of LGI Homes by 60.9% during the 3rd quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock valued at $4,954,000 after purchasing an additional 15,818 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of LGI Homes during the 3rd quarter valued at $334,000. River Road Asset Management LLC raised its holdings in shares of LGI Homes by 30.6% during the 4th quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider’s stock valued at $81,168,000 after purchasing an additional 212,468 shares in the last quarter. Finally, Covalent Partners LLC bought a new position in shares of LGI Homes during the 3rd quarter valued at $2,655,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.