LPL Financial LLC Has $1.02 Million Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

LPL Financial LLC grew its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 5.0% during the 4th quarter, HoldingsChannel reports. The firm owned 11,399 shares of the financial services provider’s stock after purchasing an additional 546 shares during the quarter. LPL Financial LLC’s holdings in LGI Homes were worth $1,019,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of LGIH. Blue Trust Inc. lifted its holdings in LGI Homes by 112.9% during the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after buying an additional 184 shares during the period. Stifel Financial Corp increased its position in LGI Homes by 5.7% during the 3rd quarter. Stifel Financial Corp now owns 3,883 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 211 shares during the period. KBC Group NV raised its holdings in LGI Homes by 51.6% during the 4th quarter. KBC Group NV now owns 1,110 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 378 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of LGI Homes by 8.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,136 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 402 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in shares of LGI Homes by 5.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 11,655 shares of the financial services provider’s stock worth $1,042,000 after buying an additional 629 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Trading Up 3.9 %

NASDAQ LGIH opened at $56.28 on Monday. 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, Inc. has a 52 week low of $53.13 and a 52 week high of $125.83. The business has a 50 day moving average price of $69.84 and a 200-day moving average price of $88.95. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 6.75 and a beta of 1.99.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, COO Michael Larry Snider sold 1,105 shares of the 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 sale, the chief operating officer now directly owns 27,102 shares of the company’s stock, valued at approximately $2,058,125.88. This represents a 3.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.30% of the stock is currently owned by company insiders.

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.