Proficio Capital Partners LLC Takes Position in LGI Homes, Inc. (NASDAQ:LGIH)

Proficio Capital Partners LLC bought 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 & Exchange Commission. The firm bought 21,635 shares of the financial services provider's stock, valued at approximately $1,934,000. Proficio Capital Partners LLC owned 0.09% of LGI Homes at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN increased its stake in shares of 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 purchasing an additional 33,306 shares during the period. Geode Capital Management LLC increased its stake in shares of LGI Homes by 1.5% during the third quarter. Geode Capital Management LLC now owns 497,039 shares of the financial services provider's stock worth $58,920,000 after purchasing an additional 7,129 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of LGI Homes by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 376,793 shares of the financial services provider's stock worth $33,685,000 after purchasing an additional 27,652 shares during the period. Bank of New York Mellon Corp grew its position in LGI Homes by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 153,111 shares of the financial services provider's stock worth $13,688,000 after buying an additional 5,727 shares in the last quarter. Finally, Holocene Advisors LP grew its position in LGI Homes by 386.2% during the third quarter. Holocene Advisors LP now owns 130,968 shares of the financial services provider's stock worth $15,522,000 after buying an additional 104,030 shares in the last quarter. Institutional investors own 84.89% of the company's stock.

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Insider Buying and Selling at LGI Homes

In other news, COO Michael Larry Snider sold 1,105 shares of the stock in a transaction on Monday, March 10th. The stock was 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 directly owns 27,102 shares in the company, valued at approximately $2,058,125.88. This represents a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.40% of the company's stock.

Analyst Ratings Changes

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

LGI Homes Price Performance

Shares of LGIH stock traded down $1.54 during trading hours on Friday, reaching $70.88. The company's stock had a trading volume of 520,020 shares, compared to its average volume of 222,582. The firm's 50 day simple moving average is $81.90 and its 200-day simple moving average is $96.87. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 8.50 and a beta of 2.13. LGI Homes, Inc. has a fifty-two week low of $68.66 and a fifty-two week high of $125.83. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates of $2.31 by ($0.16). The business had revenue of $557.40 million during the quarter, compared to analyst estimates of $588.56 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.19 EPS. Sell-side analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

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.