LGI Homes (NASDAQ:LGIH) COO Sells $331,569.48 in Stock

LGI Homes, Inc. (NASDAQ:LGIH) COO Michael Larry Snider sold 7,887 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $42.04, for a total value of $331,569.48. Following the sale, the chief operating officer owned 30,517 shares of the company’s stock, valued at approximately $1,282,934.68. This trade represents a 20.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Michael Larry Snider also recently made the following trade(s):

• On Monday, March 9th, Michael Larry Snider sold 6,000 shares of LGI Homes stock. The shares were sold at an average price of $42.04, for a total value of $252,240.00.

LGI Homes Stock Down 2.5%

Shares of LGIH stock traded down $1.11 during trading hours on Tuesday, hitting $42.55. 374,149 shares of the company were exchanged, compared to its average volume of 395,271. The stock has a market capitalization of $984.18 million, a price-to-earnings ratio of 13.59 and a beta of 1.88. LGI Homes, Inc. has a one year low of $39.70 and a one year high of $76.42. The business’s 50-day simple moving average is $51.82 and its two-hundred day simple moving average is $51.25. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 20.98.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. LGI Homes had a return on equity of 4.08% and a net margin of 4.25%.The firm had revenue of $473.97 million during the quarter, compared to analyst estimates of $479.60 million. During the same period in the previous year, the company earned $2.15 earnings per share. LGI Homes’s quarterly revenue was down 15.0% on a year-over-year basis. Sell-side analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Hedge Funds Weigh In On LGI Homes

Several large investors have recently bought and sold shares of LGIH. Caitong International Asset Management Co. Ltd raised its position in shares of LGI Homes by 75.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after buying an additional 237 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in LGI Homes during the fourth quarter worth approximately $29,000. Russell Investments Group Ltd. lifted its position in LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 305 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in LGI Homes in the fourth quarter worth approximately $32,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in LGI Homes by 7,240.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,101 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,086 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on LGIH. Weiss Ratings restated a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research report on Wednesday, January 7th. Finally, Citizens Jmp increased their price objective on shares of LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $74.63.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.