Sei Investments Co. Purchases 2,173 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Sei Investments Co. increased its position in LGI Homes, Inc. (NASDAQ:LGIH) by 37.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,018 shares of the financial services provider’s stock after acquiring an additional 2,173 shares during the period. Sei Investments Co.’s holdings in LGI Homes were worth $718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. HighTower Advisors LLC acquired a new position in shares of LGI Homes during the 3rd quarter worth $229,000. Stifel Financial Corp boosted its holdings in LGI Homes by 5.7% in the third quarter. Stifel Financial Corp now owns 3,883 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 211 shares in the last quarter. XTX Topco Ltd acquired a new position in LGI Homes during the third quarter worth $288,000. Covalent Partners LLC bought a new position in LGI Homes during the third quarter valued at about $2,655,000. Finally, Disciplined Growth Investors Inc. MN lifted its position in shares of 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 buying an additional 33,306 shares during the last quarter. Institutional investors own 84.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, COO Michael Larry Snider sold 1,105 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $75.94, for a total value of $83,913.70. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.30% of the stock is owned by company insiders.

LGI Homes Stock Performance

LGIH opened at $56.71 on Wednesday. LGI Homes, Inc. has a 12-month low of $55.31 and a 12-month high of $125.83. The firm has a market capitalization of $1.33 billion, a P/E ratio of 6.80 and a beta of 1.99. The stock’s 50 day moving average price is $75.17 and its two-hundred day moving average price is $92.68. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77.

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

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.