Wasatch Advisors LP Buys 36,608 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Wasatch Advisors LP increased its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,395,710 shares of the financial services provider’s stock after acquiring an additional 36,608 shares during the quarter. Wasatch Advisors LP owned about 0.06% of LGI Homes worth $124,776,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of LGI Homes by 112.9% during the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 184 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of LGI Homes by 801.5% during the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 545 shares in the last quarter. KBC Group NV grew its position in shares of LGI Homes by 51.6% in the 4th quarter. KBC Group NV now owns 1,110 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 378 shares during the period. HighTower Advisors LLC acquired a new position in shares of LGI Homes in the 3rd quarter valued at approximately $229,000. Finally, Summit Investment Advisors Inc. increased its stake in LGI Homes by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 141 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price objective 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. JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a report on Friday, January 10th. Seaport Res Ptn upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. Finally, Wedbush restated a “neutral” rating and issued a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $118.33.

Insider Buying and Selling at LGI Homes

In other news, COO Michael Larry Snider sold 1,105 shares of the firm’s stock in a transaction that occurred on 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 approximately $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 can be accessed through this hyperlink. Insiders own 12.30% of the company’s stock.

LGI Homes Stock Down 3.0 %

NASDAQ:LGIH opened at $55.50 on Wednesday. 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 50 day moving average price is $71.57 and its two-hundred day moving average price is $90.42. LGI Homes, Inc. has a twelve month low of $53.28 and a twelve month high of $125.83. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 6.65 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data 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 net margin of 8.75% and a return on equity of 10.32%. The business had revenue of $557.40 million during the quarter, compared to analyst estimates of $588.56 million. During the same period in the previous year, the business earned $2.19 earnings per share. The business’s quarterly revenue was down 8.4% on a year-over-year basis. Equities research analysts expect that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

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.