38,984 Shares in LGI Homes, Inc. (NASDAQ:LGIH) Bought by Norges Bank

Norges Bank acquired a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 38,984 shares of the financial services provider's stock, valued at approximately $3,485,000. Norges Bank owned approximately 0.17% of LGI Homes as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in LGI Homes by 131.4% during the third quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider's stock worth $13,222,000 after acquiring an additional 63,346 shares in the last quarter. Vanguard Group Inc. raised 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 valued at $203,377,000 after purchasing an additional 54,039 shares during the period. River Road Asset Management LLC lifted its stake in LGI Homes by 30.6% in the 4th quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider's stock valued at $81,168,000 after purchasing an additional 212,468 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in LGI Homes in the 3rd quarter valued at about $334,000. Finally, Raymond James Financial Inc. bought a new position in LGI Homes during the fourth quarter worth about $15,507,000. Institutional investors and hedge funds own 84.89% of the company's stock.

LGI Homes Stock Performance

Shares of NASDAQ LGIH traded down $0.09 during trading hours on Wednesday, reaching $55.41. 17,865 shares of the stock were exchanged, compared to its average volume of 236,254. The stock's fifty day simple moving average is $71.57 and its 200 day simple moving average is $90.42. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 6.64 and a beta of 1.99. LGI Homes, Inc. has a 52 week low of $53.28 and a 52 week high of $125.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72.

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 for the quarter, missing the consensus estimate of $2.31 by ($0.16). The firm had revenue of $557.40 million for the quarter, compared to the consensus estimate of $588.56 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The firm's quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.19 EPS. Sell-side analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LGIH shares. 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. cut their price target on LGI Homes from $82.00 to $80.00 and set an "underweight" rating for the company in a report on Tuesday, January 14th. Wedbush reaffirmed a "neutral" rating and set a $115.00 price objective (down from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. Finally, JMP Securities reissued a "market outperform" rating and issued a $160.00 price objective on shares of LGI Homes in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $118.33.

Insiders Place Their Bets

In other news, COO Michael Larry Snider sold 1,105 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $75.94, for a total transaction of $83,913.70. Following the transaction, the chief operating officer now directly owns 27,102 shares of the company's stock, valued at approximately $2,058,125.88. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.30% of the company's stock.

LGI Homes 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.