Ryan Edone Acquires 1,000 Shares of LGI Homes, Inc. (NASDAQ:LGIH) Stock

LGI Homes, Inc. (NASDAQ:LGIHGet Rating) Director Ryan Edone bought 1,000 shares of LGI Homes stock in a transaction dated Wednesday, June 15th. The stock was acquired at an average price of $82.38 per share, with a total value of $82,380.00. Following the acquisition, the director now directly owns 26,778 shares of the company’s stock, valued at $2,205,971.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ LGIH traded down $0.44 during trading hours on Wednesday, hitting $83.13. The stock had a trading volume of 555,849 shares, compared to its average volume of 321,482. The company has a market capitalization of $1.97 billion, a P/E ratio of 4.97 and a beta of 1.48. The firm’s 50-day moving average price is $94.63 and its two-hundred day moving average price is $118.03. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.86 and a current ratio of 14.77. LGI Homes, Inc. has a 52 week low of $79.90 and a 52 week high of $175.90.

LGI Homes (NASDAQ:LGIHGet Rating) last released its earnings results on Tuesday, May 3rd. The financial services provider reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.60. LGI Homes had a return on equity of 30.05% and a net margin of 14.14%. The firm had revenue of $546.05 million for the quarter, compared to analyst estimates of $530.07 million. During the same quarter last year, the firm posted $3.95 EPS. The company’s revenue was down 22.7% on a year-over-year basis. As a group, analysts expect that LGI Homes, Inc. will post 19.84 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its holdings in shares of LGI Homes by 298.0% during the fourth quarter. First Horizon Advisors Inc. now owns 203 shares of the financial services provider’s stock worth $31,000 after buying an additional 152 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of LGI Homes during the fourth quarter worth $33,000. UMB Bank N A MO acquired a new stake in shares of LGI Homes in the fourth quarter valued at $36,000. Confluence Wealth Services Inc. bought a new position in shares of LGI Homes in the fourth quarter valued at about $44,000. Finally, Covestor Ltd acquired a new position in LGI Homes during the 4th quarter worth about $69,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Several brokerages recently issued reports on LGIH. TheStreet downgraded LGI Homes from a “b-” rating to a “c+” rating in a research note on Thursday, April 7th. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. BTIG Research upgraded shares of LGI Homes from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of LGI Homes from $96.00 to $81.00 and set an “underweight” rating for the company in a research report on Wednesday, April 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $128.50.

LGI Homes Company Profile (Get Rating)

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 companies looking to acquire single-family rental properties.

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