Raymond James Financial Inc. Takes Position in LGI Homes, Inc. (NASDAQ:LGIH)

Raymond James Financial Inc. purchased a new position in LGI Homes, Inc. (NASDAQ:LGIH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 173,456 shares of the financial services provider’s stock, valued at approximately $15,507,000.

A number of other hedge funds also recently bought and sold shares of LGIH. HighTower Advisors LLC purchased a new stake in shares of LGI Homes during the 3rd quarter valued at about $229,000. Stifel Financial Corp raised its position in LGI Homes by 5.7% during the third 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. Sanctuary Advisors LLC bought a new stake in shares of LGI Homes in the 3rd quarter valued at approximately $334,000. JPMorgan Chase & Co. increased its position in shares of LGI Homes by 131.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock valued at $13,222,000 after purchasing an additional 63,346 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in LGI Homes by 19.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 8,212 shares of the financial services provider’s stock valued at $734,000 after buying an additional 1,357 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Trading Down 0.3 %

LGIH opened at $56.10 on Tuesday. 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 stock’s fifty day moving average is $69.30 and its two-hundred day moving average is $88.56. The company has a market capitalization of $1.31 billion, a P/E ratio of 6.73 and a beta of 1.99. LGI Homes, Inc. has a 52 week low of $53.13 and a 52 week high of $125.83.

LGI Homes (NASDAQ:LGIH) last issued its 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). LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business had revenue of $557.40 million for the quarter, compared to the consensus estimate of $588.56 million. During the same quarter in the previous year, the company earned $2.19 earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. Analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Michael Larry Snider sold 1,105 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $75.94, for a total transaction of $83,913.70. Following the completion of the sale, the chief operating officer now directly owns 27,102 shares in the company, valued at $2,058,125.88. This represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 12.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LGIH. Wedbush reiterated a “neutral” rating and set a $115.00 price objective (down previously from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price objective on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Seaport Res Ptn raised LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 27th. Finally, JMP Securities reissued a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a research note on Friday, January 10th. Two investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $118.33.

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.