Nisa Investment Advisors LLC Trims Position in LGI Homes, Inc. (NASDAQ:LGIH)

Nisa Investment Advisors LLC cut its position in LGI Homes, Inc. (NASDAQ:LGIH) by 35.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,150 shares of the financial services provider’s stock after selling 2,290 shares during the period. Nisa Investment Advisors LLC’s holdings in LGI Homes were worth $553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LGIH. Goldman Sachs Group Inc. increased its stake in shares of LGI Homes by 51.0% in the second quarter. Goldman Sachs Group Inc. now owns 563,123 shares of the financial services provider’s stock worth $75,960,000 after purchasing an additional 190,075 shares in the last quarter. Bank of America Corp DE boosted its position in shares of LGI Homes by 173.6% during the first quarter. Bank of America Corp DE now owns 167,427 shares of the financial services provider’s stock worth $19,092,000 after acquiring an additional 106,232 shares during the last quarter. Barclays PLC boosted its position in shares of LGI Homes by 213.0% during the third quarter. Barclays PLC now owns 125,904 shares of the financial services provider’s stock worth $12,525,000 after acquiring an additional 85,682 shares during the last quarter. Liontrust Investment Partners LLP boosted its position in shares of LGI Homes by 61.4% during the third quarter. Liontrust Investment Partners LLP now owns 218,912 shares of the financial services provider’s stock worth $21,780,000 after acquiring an additional 83,237 shares during the last quarter. Finally, Norges Bank bought a new position in shares of LGI Homes during the fourth quarter worth $5,928,000. 84.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Wednesday. Wedbush restated an “underperform” rating and set a $74.00 target price (down previously from $88.00) on shares of LGI Homes in a research report on Tuesday, April 2nd. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a research report on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, LGI Homes presently has a consensus rating of “Hold” and an average price target of $110.50.

LGI Homes Price Performance

LGIH stock opened at $92.62 on Thursday. LGI Homes, Inc. has a 52 week low of $84.15 and a 52 week high of $141.91. The company has a quick ratio of 0.42, a current ratio of 10.66 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $111.50 and a two-hundred day simple moving average of $113.67. The firm has a market capitalization of $2.18 billion, a P/E ratio of 11.00 and a beta of 1.83.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, February 20th. The financial services provider reported $2.19 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.35). LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. The business had revenue of $608.41 million for the quarter, compared to the consensus estimate of $663.95 million. During the same quarter last year, the business earned $1.45 EPS. LGI Homes’s revenue for the quarter was up 24.6% compared to the same quarter last year. Analysts anticipate that LGI Homes, Inc. will post 9.24 earnings per share for the current fiscal year.

Insider Transactions at LGI Homes

In other news, General Counsel Scott James Garber sold 1,212 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $135,683.40. Following the completion of the sale, the general counsel now owns 13,824 shares in the company, valued at approximately $1,547,596.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Scott James Garber sold 1,212 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $135,683.40. Following the completion of the sale, the general counsel now owns 13,824 shares in the company, valued at approximately $1,547,596.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Charles Michael Merdian sold 6,361 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $712,113.95. Following the completion of the sale, the chief financial officer now owns 9,458 shares of the company’s stock, valued at approximately $1,058,823.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,435 shares of company stock worth $2,944,291. 12.20% of the stock is currently owned by insiders.

LGI Homes 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.