Raymond James Financial Inc. bought a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 173,456 shares of the financial services provider's stock, valued at approximately $15,507,000. Raymond James Financial Inc. owned approximately 0.74% of LGI Homes at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Blue Trust Inc. raised its stake in LGI Homes by 112.9% in the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider's stock worth $31,000 after buying an additional 184 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of LGI Homes by 5.7% during the 3rd quarter. Stifel Financial Corp now owns 3,883 shares of the financial services provider's stock worth $460,000 after purchasing an additional 211 shares during the last quarter. KBC Group NV lifted its stake in shares of LGI Homes by 51.6% during the 4th quarter. KBC Group NV now owns 1,110 shares of the financial services provider's stock worth $99,000 after purchasing an additional 378 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in LGI Homes by 8.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,136 shares of the financial services provider's stock valued at $459,000 after purchasing an additional 402 shares in the last quarter. Finally, LPL Financial LLC grew its stake in LGI Homes by 5.0% in the fourth quarter. LPL Financial LLC now owns 11,399 shares of the financial services provider's stock valued at $1,019,000 after purchasing an additional 546 shares during the last quarter. Institutional investors own 84.89% of the company's stock.
LGI Homes Stock Performance
LGIH stock traded down $0.71 during midday trading on Friday, reaching $59.52. The stock had a trading volume of 111,035 shares, compared to its average volume of 237,346. LGI Homes, Inc. has a 52-week low of $53.13 and a 52-week high of $125.83. The stock has a market cap of $1.39 billion, a PE ratio of 7.10 and a beta of 1.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The firm has a fifty day simple moving average of $67.82 and a two-hundred day simple moving average of $87.82.
LGI Homes (NASDAQ:LGIH - Get Free Report) last announced 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 business had revenue of $557.40 million for 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 business's revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.19 earnings per share. As a group, equities research analysts anticipate that LGI Homes, Inc. will post 8.46 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on LGIH. JMP Securities restated a "market outperform" rating and issued a $160.00 price target on shares of LGI Homes in a report on Friday, January 10th. Wedbush reiterated a "neutral" rating and set a $115.00 price objective (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their target price on LGI Homes from $82.00 to $80.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 14th. Finally, Seaport Res Ptn raised LGI Homes from a "strong sell" rating to a "hold" rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $118.33.
Check Out Our Latest Research Report on LGI Homes
Insiders Place Their Bets
In other news, COO Michael Larry Snider sold 1,105 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $75.94, for a total value of $83,913.70. Following the sale, the chief operating officer now 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 through the SEC website. 12.30% of the stock is owned by insiders.
About LGI Homes
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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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