LGI Homes, Inc. (NASDAQ:LGIH) Sees Significant Decrease in Short Interest

LGI Homes, Inc. (NASDAQ:LGIHGet Rating) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 2,970,000 shares, a decline of 7.8% from the August 15th total of 3,220,000 shares. Based on an average trading volume of 259,300 shares, the days-to-cover ratio is presently 11.5 days. Approximately 14.6% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LGIH. Rise Advisors LLC purchased a new stake in shares of LGI Homes in the fourth quarter valued at about $33,000. Quadrant Capital Group LLC raised its holdings in shares of LGI Homes by 900.0% in the second quarter. Quadrant Capital Group LLC now owns 400 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 360 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of LGI Homes in the first quarter valued at about $58,000. CWM LLC raised its holdings in shares of LGI Homes by 22.9% in the first quarter. CWM LLC now owns 752 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 140 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of LGI Homes by 130.7% in the first quarter. Covestor Ltd now owns 1,029 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 583 shares during the last quarter. 90.47% of the stock is owned by institutional investors.

LGI Homes Stock Up 1.3 %

LGI Homes stock opened at $87.57 on Tuesday. LGI Homes has a 1-year low of $71.73 and a 1-year high of $160.59. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 5.14 and a beta of 1.60. The firm’s fifty day moving average price is $100.60 and its two-hundred day moving average price is $98.69. The company has a current ratio of 13.59, a quick ratio of 0.68 and a debt-to-equity ratio of 0.76.

LGI Homes (NASDAQ:LGIHGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The financial services provider reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.73. LGI Homes had a net margin of 14.67% and a return on equity of 29.21%. The firm had revenue of $723.07 million for the quarter, compared to analyst estimates of $715.65 million. During the same period last year, the firm earned $4.71 earnings per share. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. On average, equities research analysts predict that LGI Homes will post 17.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of LGI Homes from $108.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Friday, June 17th. JPMorgan Chase & Co. cut their target price on shares of LGI Homes from $85.00 to $77.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 12th. JMP Securities cut their target price on shares of LGI Homes from $175.00 to $140.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 3rd. Finally, StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $101.25.

About LGI Homes

(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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