Raymond James Financial Inc. Takes Position in LGI Homes, Inc. (NASDAQ:LGIH)

Raymond James Financial Inc. bought a new position in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 173,456 shares of the financial services provider's stock, valued at approximately $15,507,000. Raymond James Financial Inc. owned 0.74% of LGI Homes at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in shares of LGI Homes in the 4th quarter worth $1,934,000. Charles Schwab Investment Management Inc. raised its position in LGI Homes by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 376,793 shares of the financial services provider's stock valued at $33,685,000 after purchasing an additional 27,652 shares during the period. Illinois Municipal Retirement Fund raised its position in LGI Homes by 5.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 11,655 shares of the financial services provider's stock valued at $1,042,000 after purchasing an additional 629 shares during the period. Bank of New York Mellon Corp raised its position in LGI Homes by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 153,111 shares of the financial services provider's stock valued at $13,688,000 after purchasing an additional 5,727 shares during the period. Finally, Handelsbanken Fonder AB raised its position in LGI Homes by 17.3% in the fourth quarter. Handelsbanken Fonder AB now owns 7,465 shares of the financial services provider's stock valued at $667,000 after purchasing an additional 1,100 shares during the period. 84.89% of the stock is owned by hedge funds and other institutional investors.

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LGI Homes Stock Down 2.1 %

NASDAQ:LGIH traded down $1.54 during mid-day trading on Friday, reaching $70.88. The stock had a trading volume of 520,020 shares, compared to its average volume of 222,380. 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 1-year low of $68.66 and a 1-year high of $125.83. The stock's 50 day simple moving average is $81.90 and its two-hundred day simple moving average is $96.92. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54.

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

Insider Buying and Selling at LGI Homes

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of LGI Homes stock in a transaction that occurred 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 $2,058,125.88. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LGIH shares. Seaport Res Ptn upgraded LGI Homes from a "strong sell" rating to a "hold" rating in a research note on Monday, January 27th. JMP Securities restated a "market outperform" rating and set a $160.00 target price on shares of LGI Homes in a research note on Friday, January 10th. JPMorgan Chase & Co. lowered their target price on LGI Homes from $82.00 to $80.00 and set an "underweight" rating for the company in a research note on Tuesday, January 14th. Finally, Wedbush restated a "neutral" rating and set a $115.00 target price (down from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Two equities 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 currently has an average rating of "Hold" and a consensus price target of $118.33.

LGI Homes Company 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.