LGI Homes Inc (NASDAQ:LGIH) Shares Sold by Fmr LLC

FMR LLC reduced its stake in shares of LGI Homes Inc (NASDAQ:LGIH) by 0.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,370,171 shares of the financial services provider’s stock after selling 1,138 shares during the quarter. FMR LLC owned approximately 10.34% of LGI Homes worth $142,779,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. boosted its position in LGI Homes by 12.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,664,836 shares of the financial services provider’s stock worth $75,283,000 after purchasing an additional 186,150 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of LGI Homes during the 4th quarter worth approximately $38,684,000. Royce & Associates LP raised its stake in shares of LGI Homes by 21.3% during the 1st quarter. Royce & Associates LP now owns 295,020 shares of the financial services provider’s stock worth $17,772,000 after buying an additional 51,728 shares during the period. Lord Abbett & CO. LLC raised its stake in shares of LGI Homes by 39.4% during the 4th quarter. Lord Abbett & CO. LLC now owns 265,962 shares of the financial services provider’s stock worth $12,027,000 after buying an additional 75,104 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of LGI Homes by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 259,531 shares of the financial services provider’s stock worth $11,735,000 after buying an additional 17,117 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.

In other LGI Homes news, Director Steven Randal Smith sold 2,500 shares of LGI Homes stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $74.49, for a total transaction of $186,225.00. Following the transaction, the director now owns 12,407 shares of the company’s stock, valued at $924,197.43. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric Thomas Lipar sold 10,000 shares of LGI Homes stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $70.91, for a total value of $709,100.00. Following the transaction, the chief executive officer now directly owns 544,509 shares in the company, valued at approximately $38,611,133.19. The disclosure for this sale can be found here. 13.40% of the stock is owned by company insiders.

Several brokerages have recently weighed in on LGIH. BidaskClub downgraded Weyco Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 13th. Zacks Investment Research downgraded H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a research note on Friday, July 12th. Wells Fargo & Co raised their target price on Wingstop from $76.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Finally, JMP Securities set a $79.00 target price on LGI Homes and gave the stock a “buy” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. LGI Homes currently has an average rating of “Buy” and a consensus target price of $71.10.

Shares of NASDAQ LGIH traded down $0.05 during mid-day trading on Thursday, reaching $71.85. 195,415 shares of the company’s stock were exchanged, compared to its average volume of 296,083. The stock’s 50-day moving average is $71.86. LGI Homes Inc has a 52-week low of $37.16 and a 52-week high of $76.93. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.01 and a beta of 0.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 16.86 and a quick ratio of 1.35.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, May 7th. The financial services provider reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). The firm had revenue of $287.60 million for the quarter, compared to analysts’ expectations of $288.06 million. LGI Homes had a net margin of 9.67% and a return on equity of 23.28%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 earnings per share. On average, sell-side analysts forecast that LGI Homes Inc will post 6.69 EPS for the current year.

LGI Homes Company Profile

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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

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