Bank of Montreal Can Sells 84,175 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Bank of Montreal Can reduced its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 96.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,723 shares of the financial services provider’s stock after selling 84,175 shares during the quarter. Bank of Montreal Can’s holdings in LGI Homes were worth $243,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. River Road Asset Management LLC grew its holdings in shares of LGI Homes by 30.6% during 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 buying an additional 212,468 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in LGI Homes during the 4th quarter valued at $15,507,000. JPMorgan Chase & Co. increased its holdings in shares of LGI Homes by 131.4% in the 3rd 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. Vanguard Group Inc. increased its holdings in shares of LGI Homes by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 2,274,907 shares of the financial services provider’s stock worth $203,377,000 after purchasing an additional 54,039 shares in the last quarter. Finally, Norges Bank bought a new position in shares of LGI Homes during the fourth quarter valued at $3,485,000. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Price Performance

Shares of NASDAQ:LGIH opened at $60.23 on Friday. The firm’s 50 day moving average price is $67.82 and its 200-day moving average price is $87.82. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $1.41 billion, a PE ratio of 7.22 and a beta of 1.99. LGI Homes, Inc. has a twelve month low of $53.13 and a twelve month high of $125.83.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.16). The business had revenue of $557.40 million for the quarter, compared to analysts’ expectations of $588.56 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. During the same quarter in the prior year, the business earned $2.19 EPS. The company’s revenue was down 8.4% compared to the same quarter last year. Equities research analysts expect that LGI Homes, Inc. will post 8.46 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on LGIH. Seaport Res Ptn raised LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. decreased their price objective on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. JMP Securities restated a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday, January 10th. Finally, Wedbush reiterated a “neutral” rating and set a $115.00 target price (down from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $118.33.

Insider Transactions at LGI Homes

In related news, COO Michael Larry Snider sold 1,105 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $75.94, for a total value of $83,913.70. Following the completion of the sale, the chief operating officer now directly owns 27,102 shares of the company’s stock, valued at approximately $2,058,125.88. This represents a 3.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.30% of the company’s stock.

About LGI Homes

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.