Louisiana State Employees Retirement System Invests $1.37 Million in LGI Homes, Inc. (NASDAQ:LGIH)

Louisiana State Employees Retirement System purchased a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,300 shares of the financial services provider’s stock, valued at approximately $1,372,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dark Forest Capital Management LP acquired a new stake in shares of LGI Homes in the first quarter worth approximately $27,000. RiverPark Advisors LLC acquired a new stake in shares of LGI Homes in the third quarter worth approximately $49,000. International Assets Investment Management LLC acquired a new stake in shares of LGI Homes in the fourth quarter worth approximately $71,000. Financial Management Professionals Inc. boosted its position in shares of LGI Homes by 27.3% in the fourth quarter. Financial Management Professionals Inc. now owns 537 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 115 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of LGI Homes by 337.0% in the first quarter. Tower Research Capital LLC TRC now owns 721 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 556 shares during the last quarter. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at LGI Homes

In other LGI Homes news, CFO Charles Michael Merdian sold 6,361 shares of LGI Homes stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $712,113.95. Following the transaction, the chief financial officer now directly owns 9,458 shares of the company’s stock, valued at $1,058,823.10. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, General Counsel Scott James Garber sold 1,212 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $135,683.40. Following the transaction, the general counsel now directly owns 13,824 shares of the company’s stock, valued at $1,547,596.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Charles Michael Merdian sold 6,361 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $712,113.95. Following the transaction, the chief financial officer now directly owns 9,458 shares in the company, valued at $1,058,823.10. The disclosure for this sale can be found here. Insiders have sold a total of 26,435 shares of company stock valued at $2,944,291 over the last ninety days. Corporate insiders own 12.40% of the company’s stock.

LGI Homes Trading Down 0.1 %

Shares of LGIH stock opened at $93.38 on Monday. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 11.09 and a beta of 1.83. The company has a quick ratio of 0.42, a current ratio of 10.66 and a debt-to-equity ratio of 0.67. LGI Homes, Inc. has a fifty-two week low of $84.15 and a fifty-two week high of $141.91. The firm’s 50 day moving average price is $110.44 and its two-hundred day moving average price is $113.70.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.35). The business had revenue of $608.41 million for the quarter, compared to analyst estimates of $663.95 million. LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the firm earned $1.45 earnings per share. On average, analysts anticipate that LGI Homes, Inc. will post 9.24 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LGIH. StockNews.com cut shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Wednesday, April 17th. Wedbush reissued an “underperform” rating and issued a $74.00 target price (down from $88.00) on shares of LGI Homes in a research report on Tuesday, April 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued 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 given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $110.50.

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.