LGI Homes, Inc. (NASDAQ:LGIH) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 7.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 376,793 shares of the financial services provider’s stock after purchasing an additional 27,652 shares during the period. Charles Schwab Investment Management Inc.’s holdings in LGI Homes were worth $33,685,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 184 shares during the last quarter. KBC Group NV raised its position in shares of LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after buying an additional 168 shares during the period. HighTower Advisors LLC acquired a new position in shares of LGI Homes in the 3rd quarter valued at $229,000. Paloma Partners Management Co acquired a new position in LGI Homes in the third quarter valued at about $238,000. Finally, XTX Topco Ltd purchased a new position in shares of LGI Homes during the 3rd quarter worth approximately $288,000. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Wedbush reiterated a “neutral” rating and issued a $115.00 price target (down from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday, January 10th. Finally, Seaport Res Ptn upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research note 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $118.33.

Insider Activity

In related news, COO Michael Larry Snider sold 1,105 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $75.94, for a total value of $83,913.70. Following the sale, the chief operating officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.40% of the company’s stock.

LGI Homes Stock Up 1.8 %

LGIH opened at $71.86 on Monday. 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 52 week low of $68.66 and a 52 week 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 business’s fifty day simple moving average is $83.20 and its 200 day simple moving average is $98.01.

LGI Homes (NASDAQ:LGIH) last posted 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 for the quarter, compared to analysts’ expectations of $588.56 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.19 EPS. As a group, equities research analysts anticipate that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

LGI Homes 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.