LGI Homes, Inc. (NASDAQ:LGIH) Short Interest Update

LGI Homes, Inc. (NASDAQ:LGIH) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 2,390,000 shares, an increase of 9.1% from the June 15th total of 2,190,000 shares. Approximately 11.7% of the shares of the company are short sold. Based on an average daily trading volume, of 239,900 shares, the short-interest ratio is presently 10.0 days.

Institutional Investors Weigh In On LGI Homes

A number of large investors have recently added to or reduced their stakes in LGIH. GAMMA Investing LLC acquired a new position in shares of LGI Homes during the 4th quarter worth about $38,000. First Horizon Advisors Inc. increased its position in LGI Homes by 35.8% in the 4th quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock worth $47,000 after buying an additional 93 shares during the period. Mather Group LLC. acquired a new position in shares of LGI Homes during the first quarter worth approximately $47,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of LGI Homes during the first quarter worth approximately $52,000. Finally, International Assets Investment Management LLC bought a new stake in shares of LGI Homes in the fourth quarter valued at approximately $71,000. Institutional investors own 84.89% of the company’s stock.

LGI Homes Stock Up 1.3 %

Shares of LGIH stock traded up $1.40 on Wednesday, reaching $108.63. 46,420 shares of the company’s stock traded hands, compared to its average volume of 216,149. The business’s 50 day moving average price is $94.90 and its two-hundred day moving average price is $106.19. The company has a market capitalization of $2.56 billion, a P/E ratio of 13.56 and a beta of 1.92. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.43 and a current ratio of 12.36. LGI Homes has a 12-month low of $84.00 and a 12-month high of $141.91.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.30). The company had revenue of $390.90 million during the quarter, compared to analyst estimates of $400.00 million. LGI Homes had a net margin of 8.37% and a return on equity of 10.43%. The firm’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 EPS. On average, equities analysts forecast that LGI Homes will post 8.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

LGIH has been the subject of several recent research reports. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. dropped their price target on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Wedbush reiterated an “underperform” rating and set a $74.00 price objective on shares of LGI Homes in a research report on Thursday, June 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a report on Friday, April 5th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, LGI Homes presently has an average rating of “Hold” and an average price target of $107.50.

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.