Vanguard Group Inc. Buys 54,039 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Vanguard Group Inc. increased its stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,274,907 shares of the financial services provider's stock after purchasing an additional 54,039 shares during the quarter. Vanguard Group Inc. owned about 9.68% of LGI Homes worth $203,377,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Disciplined Growth Investors Inc. MN raised its position in LGI Homes by 3.7% in 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 acquiring an additional 33,306 shares in the last quarter. River Road Asset Management LLC raised its position in LGI Homes by 30.6% in the fourth quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider's stock worth $81,168,000 after acquiring an additional 212,468 shares in the last quarter. Geode Capital Management LLC raised its position in LGI Homes by 1.5% in the third quarter. Geode Capital Management LLC now owns 497,039 shares of the financial services provider's stock worth $58,920,000 after acquiring an additional 7,129 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in LGI Homes by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,793 shares of the financial services provider's stock worth $33,685,000 after buying an additional 27,652 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in LGI Homes during the 4th quarter worth about $15,507,000. Institutional investors and hedge funds own 84.89% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LGIH shares. JMP Securities restated a "market outperform" rating and set a $160.00 price objective on shares of LGI Homes in a report on Friday, January 10th. Wedbush restated 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. cut their price objective on LGI Homes from $82.00 to $80.00 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Finally, Seaport Res Ptn upgraded LGI Homes from a "strong sell" rating to a "hold" rating in a report on Monday, January 27th. Two 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $118.33.

LGI Homes Stock Down 6.0 %

Shares of LGIH traded down $3.61 during trading hours on Thursday, reaching $56.80. The company's stock had a trading volume of 49,954 shares, compared to its average volume of 286,887. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 6.81 and a beta of 1.99. LGI Homes, Inc. has a 1-year low of $54.05 and a 1-year 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. The company has a 50 day moving average of $73.95 and a two-hundred day moving average of $92.05.

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%. LGI Homes's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.19 EPS. As a group, research analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Insider Activity at LGI Homes

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $75.94, for a total transaction of $83,913.70. Following the completion of the sale, the chief operating officer now owns 27,102 shares of the company's stock, valued at $2,058,125.88. This 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 is available through the SEC website. 12.30% of the stock is currently owned by company insiders.

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.