Michael Larry Snider Sells 1,105 Shares of LGI Homes, Inc. (NASDAQ:LGIH) Stock

LGI Homes, Inc. (NASDAQ:LGIH) COO Michael Larry Snider sold 1,105 shares of LGI Homes stock in a transaction 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 sale, the chief operating officer now directly owns 27,102 shares in the company, valued at $2,058,125.88. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

LGI Homes Trading Down 4.4 %

Shares of NASDAQ:LGIH opened at $71.91 on Thursday. The company has a 50 day moving average of $84.18 and a 200-day moving average of $98.82. The firm has a market cap of $1.68 billion, a P/E ratio of 8.62 and a beta of 2.13. LGI Homes, Inc. has a twelve month low of $68.66 and a twelve month high of $125.83. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last issued its quarterly 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 company 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 company’s revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.19 earnings per share. As a group, analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Institutional Trading of LGI Homes

A number of institutional investors have recently made changes to their positions in the stock. Summit Investment Advisors Inc. lifted its stake in shares of LGI Homes by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 141 shares during the period. Mariner LLC lifted its stake in LGI Homes by 3.2% during the fourth quarter. Mariner LLC now owns 4,581 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 143 shares during the last quarter. KBC Group NV lifted its stake in LGI Homes by 29.8% during the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 168 shares during the last quarter. US Bancorp DE lifted its stake in LGI Homes by 6.7% during the third quarter. US Bancorp DE now owns 2,857 shares of the financial services provider’s stock valued at $339,000 after purchasing an additional 179 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in LGI Homes by 112.9% during the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 184 shares during the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.