LGI Homes (NASDAQ:LGIH) CFO Sells $303,150.44 in Stock

LGI Homes, Inc. (NASDAQ:LGIH) CFO Charles Michael Merdian sold 7,211 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $42.04, for a total transaction of $303,150.44. Following the transaction, the chief financial officer owned 20,540 shares in the company, valued at approximately $863,501.60. This trade represents a 25.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

LGI Homes Trading Down 0.7%

Shares of LGIH stock opened at $41.03 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 20.98. The company has a market capitalization of $949.02 million, a price-to-earnings ratio of 13.11 and a beta of 1.88. LGI Homes, Inc. has a 52-week low of $39.70 and a 52-week high of $74.84. The company has a 50-day simple moving average of $51.73 and a two-hundred day simple moving average of $50.93.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, February 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. LGI Homes had a net margin of 4.25% and a return on equity of 4.08%. The firm had revenue of $473.97 million for the quarter, compared to analysts’ expectations of $479.60 million. During the same quarter last year, the firm earned $2.15 EPS. The company’s quarterly revenue was down 15.0% compared to the same quarter last year. Research analysts anticipate that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on LGIH. Weiss Ratings reissued 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 lifted their target price on LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.63.

Institutional Investors Weigh In On LGI Homes

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its position in shares of LGI Homes by 75.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 237 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in LGI Homes by 106.6% during the 2nd 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 in the last quarter. Los Angeles Capital Management LLC bought a new position in LGI Homes in the 4th quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new position in LGI Homes in the 4th quarter worth about $32,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in LGI Homes by 74.8% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 928 shares of the financial services provider’s stock valued at $48,000 after buying an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

About LGI Homes

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.