LPL Financial LLC Acquires 546 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

LPL Financial LLC raised its position in LGI Homes, Inc. (NASDAQ:LGIH) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,399 shares of the financial services provider’s stock after buying an additional 546 shares during the period. LPL Financial LLC’s holdings in LGI Homes were worth $1,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LGIH. River Road Asset Management LLC boosted its holdings in LGI Homes by 30.6% in the fourth quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider’s stock valued at $81,168,000 after acquiring an additional 212,468 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of LGI Homes during the fourth quarter worth about $15,507,000. JPMorgan Chase & Co. lifted its position in shares of LGI Homes by 131.4% in the third quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after purchasing an additional 63,346 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of LGI Homes by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,793 shares of the financial services provider’s stock valued at $33,685,000 after acquiring an additional 27,652 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of LGI Homes during the 4th quarter worth approximately $1,934,000. 84.89% of the stock is owned by institutional investors and hedge funds.

LGI Homes Stock Up 3.9 %

Shares of LGIH opened at $56.28 on Monday. The firm has a market cap of $1.32 billion, a P/E ratio of 6.75 and a beta of 1.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. LGI Homes, Inc. has a 52 week low of $53.13 and a 52 week high of $125.83. The firm’s 50-day simple moving average is $69.84 and its 200 day simple moving average is $88.95.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, February 25th. The financial services provider reported $2.15 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.16). The firm had revenue of $557.40 million during the quarter, compared to analyst estimates of $588.56 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. LGI Homes’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.19 EPS. On average, analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Insider Buying and Selling at LGI Homes

In other news, COO Michael Larry Snider sold 1,105 shares of LGI Homes stock in a transaction on Monday, March 10th. The stock was sold at an average price of $75.94, for a total transaction of $83,913.70. Following the completion of the sale, the chief operating officer now owns 27,102 shares of the company’s stock, valued at approximately $2,058,125.88. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LGIH shares. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday, January 10th. Wedbush restated a “neutral” rating and issued a $115.00 price objective (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Finally, Seaport Res Ptn raised LGI Homes from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, LGI Homes has an average rating of “Hold” and an average price target of $118.33.

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.