LGI Homes Inc (NASDAQ:LGIH) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 5,294,591 shares, a decline of 8.1% from the February 28th total of 5,762,423 shares. Based on an average trading volume of 842,348 shares, the short-interest ratio is currently 6.3 days.
LGIH has been the topic of several recent research reports. Wells Fargo & Co lowered LGI Homes from a “market perform” rating to an “underperform” rating in a research report on Monday, February 6th. Wedbush reaffirmed a “neutral” rating and issued a $35.00 target price on shares of LGI Homes in a research report on Friday, January 6th. Finally, BTIG Research began coverage on LGI Homes in a research report on Tuesday, February 7th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $37.00.
Shares of LGI Homes (NASDAQ:LGIH) traded down 0.20% during trading on Thursday, hitting $30.07. The company’s stock had a trading volume of 207,639 shares. The firm’s 50 day moving average is $31.45 and its 200-day moving average is $31.24. The company has a market capitalization of $640.82 million, a P/E ratio of 8.82 and a beta of 0.19. LGI Homes has a 1-year low of $23.86 and a 1-year high of $40.47.
LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, March 7th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.07. The firm earned $236.80 million during the quarter, compared to the consensus estimate of $236.26 million. LGI Homes had a return on equity of 23.66% and a net margin of 8.68%. The business’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. Analysts forecast that LGI Homes will post $3.83 EPS for the current fiscal year.
In related news, VP Jack Anthony Lipar sold 3,405 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $32.29, for a total transaction of $109,947.45. Following the transaction, the vice president now directly owns 62,955 shares of the company’s stock, valued at approximately $2,032,816.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Thomas Lipar sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $29.92, for a total value of $299,200.00. Following the transaction, the insider now directly owns 517,466 shares in the company, valued at $15,482,582.72. The disclosure for this sale can be found here. Insiders have sold a total of 37,735 shares of company stock worth $1,194,763 over the last three months. 17.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in LGIH. US Bancorp DE increased its stake in LGI Homes by 125.8% in the third quarter. US Bancorp DE now owns 4,649 shares of the company’s stock worth $171,000 after buying an additional 2,590 shares during the period. Bank of New York Mellon Corp increased its stake in LGI Homes by 135.8% in the third quarter. Bank of New York Mellon Corp now owns 176,674 shares of the company’s stock worth $6,509,000 after buying an additional 101,762 shares during the period. Arizona State Retirement System purchased a new stake in LGI Homes during the third quarter worth $321,000. Montgomery Investment Management Inc. purchased a new stake in LGI Homes during the third quarter worth $810,000. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in LGI Homes by 8.9% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,143,479 shares of the company’s stock worth $78,966,000 after buying an additional 174,535 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.
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About LGI Homes
LGI Homes, Inc is a homebuilder. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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