PNC Financial Services Group Inc. Cuts Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

PNC Financial Services Group Inc. cut its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIHFree Report) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,454 shares of the financial services provider’s stock after selling 203 shares during the period. PNC Financial Services Group Inc.’s holdings in LGI Homes were worth $726,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in LGI Homes in the fourth quarter valued at approximately $38,000. First Horizon Advisors Inc. raised its holdings in LGI Homes by 35.8% in the fourth quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 93 shares in the last quarter. RiverPark Advisors LLC acquired a new stake in LGI Homes in the third quarter valued at approximately $49,000. International Assets Investment Management LLC acquired a new stake in LGI Homes in the fourth quarter valued at approximately $71,000. Finally, Financial Management Professionals Inc. raised its holdings in LGI Homes by 27.3% in the fourth quarter. Financial Management Professionals Inc. now owns 537 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 115 shares in the last quarter. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at LGI Homes

In other news, COO Michael Larry Snider sold 7,993 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $110.06, for a total transaction of $879,709.58. Following the transaction, the chief operating officer now directly owns 19,016 shares in the company, valued at $2,092,900.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Scott James Garber sold 1,212 shares of LGI Homes stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $135,683.40. Following the transaction, the general counsel now directly owns 13,824 shares in the company, valued at approximately $1,547,596.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Larry Snider sold 7,993 shares of LGI Homes stock in a transaction on Monday, March 11th. The shares were sold at an average price of $110.06, for a total transaction of $879,709.58. Following the completion of the transaction, the chief operating officer now owns 19,016 shares in the company, valued at $2,092,900.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,435 shares of company stock worth $2,944,291. Insiders own 12.40% of the company’s stock.

LGI Homes Stock Performance

Shares of LGIH opened at $96.00 on Friday. The company has a current ratio of 12.36, a quick ratio of 0.43 and a debt-to-equity ratio of 0.74. The firm has a market cap of $2.26 billion, a PE ratio of 12.00 and a beta of 1.86. The company’s 50 day simple moving average is $100.08 and its 200-day simple moving average is $113.57. LGI Homes, Inc. has a 12-month low of $84.15 and a 12-month high of $141.91.

LGI Homes (NASDAQ:LGIHGet Free Report) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.30). The business had revenue of $390.90 million for the quarter, compared to analysts’ expectations of $400.00 million. LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. The business’s revenue was down 19.8% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. As a group, equities analysts predict that LGI Homes, Inc. will post 9.07 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday, April 5th. StockNews.com cut shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Wedbush reissued an “underperform” rating and set a $74.00 price objective (down previously from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $110.50.

Check Out Our Latest Stock Analysis on LGIH

About LGI Homes

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

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