LGI Homes, Inc. (NASDAQ:LGIH) Shares Purchased by Northern Trust Corp

Northern Trust Corp raised its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 11.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 219,547 shares of the financial services provider’s stock after buying an additional 22,615 shares during the quarter. Northern Trust Corp owned approximately 0.93% of LGI Homes worth $19,628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of LGI Homes by 112.9% in the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 184 shares during the period. Sterling Capital Management LLC grew its position in LGI Homes by 801.5% in the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 545 shares during the last quarter. KBC Group NV increased its stake in shares of LGI Homes by 51.6% in the fourth quarter. KBC Group NV now owns 1,110 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 378 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of LGI Homes by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider’s stock valued at $195,000 after buying an additional 141 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of LGI Homes by 10.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider’s stock valued at $198,000 after buying an additional 212 shares during the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LGIH. JMP Securities reissued a “market outperform” rating and issued a $140.00 price objective on shares of LGI Homes in a report on Wednesday, April 30th. Seaport Res Ptn raised LGI Homes from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. decreased their price target on LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th.

LGI Homes Stock Performance

NASDAQ:LGIH opened at $59.58 on Wednesday. The company has a 50-day moving average of $62.62 and a 200-day moving average of $82.80. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 7.14 and a beta of 1.93. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. LGI Homes, Inc. has a twelve month low of $52.48 and a twelve month high of $125.83.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.29). The business had revenue of $351.42 million for the quarter, compared to the consensus estimate of $380.07 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 earnings per share. Analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Insider Activity at LGI Homes

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.30% of the stock is currently owned by corporate insiders.

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.