Thrivent Financial for Lutherans Sells 247 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Thrivent Financial for Lutherans lowered its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 1.5% in the fourth quarter, Holdings Channel reports. The fund owned 15,993 shares of the financial services provider’s stock after selling 247 shares during the quarter. Thrivent Financial for Lutherans’ holdings in LGI Homes were worth $1,430,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in LGI Homes by 131.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after purchasing an additional 63,346 shares during the last quarter. Citigroup Inc. increased its stake in shares of LGI Homes by 60.9% in the third quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock valued at $4,954,000 after buying an additional 15,818 shares during the period. River Road Asset Management LLC increased its stake in shares of 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 valued at $81,168,000 after buying an additional 212,468 shares during the period. Sanctuary Advisors LLC bought a new position in shares of LGI Homes during the third quarter worth about $334,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of LGI Homes in the fourth quarter worth approximately $1,934,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at LGI Homes

In related news, COO Michael Larry Snider sold 1,105 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $75.94, for a total transaction of $83,913.70. Following the transaction, the chief operating officer now directly owns 27,102 shares of the company’s stock, valued at $2,058,125.88. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.30% of the company’s stock.

LGI Homes Stock Performance

Shares of LGIH opened at $65.73 on Monday. The firm has a market capitalization of $1.54 billion, a P/E ratio of 7.88 and a beta of 2.13. LGI Homes, Inc. has a 52 week low of $65.31 and a 52 week high of $125.83. The stock has a 50 day moving average price of $79.87 and a two-hundred day moving average price of $95.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.16). The company had revenue of $557.40 million for the quarter, compared to the consensus estimate of $588.56 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.19 EPS. Equities analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on LGIH shares. JMP Securities reissued a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a research report on Friday, January 10th. JPMorgan Chase & Co. reduced their price objective 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 reissued a “neutral” rating and set a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Finally, 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. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $118.33.

LGI Homes Company 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.