Scout Investments Inc. Sells 4,215 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Scout Investments Inc. lowered its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,657 shares of the financial services provider’s stock after selling 4,215 shares during the period. Scout Investments Inc. owned approximately 0.28% of LGI Homes worth $7,628,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LGIH. Wasatch Advisors LP lifted its stake in shares of LGI Homes by 9.9% in the first quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock worth $169,929,000 after buying an additional 131,467 shares in the last quarter. CDAM UK Ltd lifted its stake in shares of LGI Homes by 14.7% in the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock worth $89,878,000 after buying an additional 86,265 shares in the last quarter. Ampfield Management L.P. lifted its stake in shares of LGI Homes by 13.0% in the fourth quarter. Ampfield Management L.P. now owns 571,857 shares of the financial services provider’s stock worth $76,148,000 after buying an additional 65,609 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of LGI Homes by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,443,038 shares of the financial services provider’s stock worth $192,158,000 after buying an additional 58,850 shares in the last quarter. Finally, Norges Bank bought a new position in shares of LGI Homes in the fourth quarter worth approximately $7,776,000. Institutional investors own 84.89% of the company’s stock.

LGI Homes Price Performance

LGIH traded up $2.19 during trading on Friday, hitting $104.74. 123,540 shares of the company traded hands, compared to its average volume of 218,182. The company has a market cap of $2.47 billion, a PE ratio of 12.89 and a beta of 1.92. The stock’s 50-day simple moving average is $95.12 and its two-hundred day simple moving average is $106.16. LGI Homes, Inc. has a 1 year low of $84.00 and a 1 year high of $141.91. The company has a current ratio of 12.36, a quick ratio of 0.43 and a debt-to-equity ratio of 0.74.

LGI Homes (NASDAQ:LGIH) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $400.00 million. LGI Homes had a net margin of 8.37% and a return on equity of 10.43%. The business’s revenue was down 19.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. As a group, sell-side analysts anticipate that LGI Homes, Inc. will post 8.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.