LGI Homes, Inc. (NASDAQ:LGIH) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,111 shares of the financial services provider's stock after acquiring an additional 5,727 shares during the period. Bank of New York Mellon Corp owned about 0.65% of LGI Homes worth $13,688,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LGIH. Holocene Advisors LP boosted its holdings in shares of LGI Homes by 386.2% in the 3rd quarter. Holocene Advisors LP now owns 130,968 shares of the financial services provider's stock valued at $15,522,000 after acquiring an additional 104,030 shares during the last quarter. JPMorgan Chase & Co. boosted 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 valued at $13,222,000 after acquiring an additional 63,346 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of LGI Homes in the 3rd quarter valued at $6,859,000. Disciplined Growth Investors Inc. MN boosted its holdings in LGI Homes by 3.7% during the third quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider's stock worth $111,350,000 after buying an additional 33,306 shares in the last quarter. Finally, Basswood Capital Management L.L.C. purchased a new stake in LGI Homes during the third quarter worth $3,103,000. 84.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LGIH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of LGI Homes from $82.00 to $80.00 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Wedbush reissued a "neutral" rating and set a $115.00 price target (down from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. Seaport Res Ptn raised shares of LGI Homes from a "strong sell" rating to a "hold" rating in a report on Monday, January 27th. Finally, JMP Securities reissued a "market outperform" rating and set a $160.00 price target on shares of LGI Homes in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $118.33.

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LGI Homes Price Performance

LGIH traded up $1.24 during midday trading on Friday, hitting $71.86. 393,408 shares of the company traded hands, compared to its average volume of 263,051. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 8.62 and a beta of 2.13. LGI Homes, Inc. has a 52-week low of $68.66 and a 52-week high of $125.83. The business has a 50 day simple moving average of $83.20 and a two-hundred day simple moving average of $98.08.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.16). The company had revenue of $557.40 million for the quarter, compared to analysts' expectations of $588.56 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business's revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.19 earnings per share. On average, equities analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Michael Larry Snider sold 1,105 shares of the stock in a transaction dated 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 in the company, valued at $2,058,125.88. This represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.40% 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.