LGI Homes, Inc. (NASDAQ:LGIH) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 37.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,547 shares of the financial services provider’s stock after selling 42,010 shares during the quarter. JPMorgan Chase & Co.’s holdings in LGI Homes were worth $6,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. River Road Asset Management LLC boosted 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of LGI Homes during the 4th quarter worth $15,507,000. Vanguard Group Inc. boosted its position in shares of LGI Homes by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 2,274,907 shares of the financial services provider’s stock worth $203,377,000 after purchasing an additional 54,039 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of LGI Homes by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,793 shares of the financial services provider’s stock worth $33,685,000 after purchasing an additional 27,652 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of LGI Homes in the 4th quarter valued at about $1,934,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

Insider Buying and Selling

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of LGI Homes stock in a transaction dated 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 sale, the chief operating officer now owns 27,102 shares in the company, valued at $2,058,125.88. The trade was a 3.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.30% of the stock is currently owned by company insiders.

LGI Homes Trading Up 3.9 %

Shares of LGI Homes stock opened at $56.28 on Friday. LGI Homes, Inc. has a 1 year low of $53.13 and a 1 year high of $125.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The business has a 50 day moving average price of $70.43 and a 200 day moving average price of $89.74. The company has a market capitalization of $1.32 billion, a P/E ratio of 6.75 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH) last released 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 business’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.19 earnings per share. Sell-side analysts anticipate that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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