Charles Schwab Investment Management Inc. lifted its stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 376,793 shares of the financial services provider's stock after purchasing an additional 27,652 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.60% of LGI Homes worth $33,685,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position 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. Citigroup Inc. raised its holdings in LGI Homes by 60.9% in the 3rd quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider's stock worth $4,954,000 after acquiring an additional 15,818 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in LGI Homes in the 3rd quarter worth approximately $334,000. Proficio Capital Partners LLC purchased a new position in LGI Homes in the 4th quarter worth approximately $1,934,000. Finally, Covalent Partners LLC purchased a new position in LGI Homes in the 3rd quarter worth approximately $2,655,000. 84.89% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, COO Michael Larry Snider sold 1,105 shares of the company's stock in a transaction 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 transaction, the chief operating officer now 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 sale was disclosed in a filing with the SEC, which is accessible through this link. 12.40% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on LGIH shares. Seaport Res Ptn upgraded shares of LGI Homes from a "strong sell" rating to a "hold" rating in a report on Monday, January 27th. Wedbush restated a "neutral" rating and issued a $115.00 price objective (down from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. JMP Securities restated a "market outperform" rating and issued a $160.00 price objective on shares of LGI Homes in a report on Friday, January 10th. Finally, 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. 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, the company presently has a consensus rating of "Hold" and a consensus target price of $118.33.
View Our Latest Stock Analysis on LGI Homes
LGI Homes Stock Performance
LGIH traded down $0.85 during mid-day trading on Tuesday, reaching $72.54. 84,843 shares of the company traded hands, compared to its average volume of 220,414. The stock has a market capitalization of $1.70 billion, a P/E ratio of 8.70 and a beta of 2.13. 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 company's fifty day moving average price is $82.93 and its 200-day moving average price is $97.78. LGI Homes, Inc. has a 52-week low of $68.66 and a 52-week high of $125.83.
LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $557.40 million during 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%. The company's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the company earned $2.19 earnings per share. On average, sell-side analysts expect that LGI Homes, Inc. will post 8.46 EPS for the current year.
LGI Homes Profile
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Free Report)
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.
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