LGI Homes Inc. (NASDAQ:LGIH)’s share price fell 1.2% during mid-day trading on Wednesday . The company traded as low as $32.67 and last traded at $32.80, with a volume of 136,190 shares traded. The stock had previously closed at $33.21.

A number of brokerages recently issued reports on LGIH. Zacks Investment Research cut LGI Homes from a “hold” rating to a “sell” rating in a report on Monday, June 6th. Deutsche Bank AG reiterated a “buy” rating and issued a $36.00 target price on shares of LGI Homes in a report on Tuesday, March 22nd. Finally, JMP Securities reiterated a “buy” rating on shares of LGI Homes in a report on Saturday, July 9th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $34.70.

The company has a market cap of $681.92 million and a price-to-earnings ratio of 12.28. The firm’s 50-day moving average is $30.62 and its 200 day moving average is $25.78.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, May 10th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The firm earned $162.50 million during the quarter, compared to the consensus estimate of $167.55 million. During the same period in the prior year, the company posted $0.33 EPS. The firm’s revenue was up 34.6% compared to the same quarter last year. On average, equities analysts anticipate that LGI Homes Inc. will post $3.32 earnings per share for the current year.

In other LGI Homes news, major shareholder Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $29.96, for a total value of $299,600.00. Following the completion of the sale, the insider now owns 491,433 shares in the company, valued at $14,723,332.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

A number of hedge funds recently modified their holdings of LGIH. State of New Jersey Common Pension Fund D boosted its stake in shares of LGI Homes by 4.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 231,000 shares of the company’s stock worth $5,621,000 after buying an additional 10,000 shares during the last quarter. Alpine Woods Capital Investors LLC boosted its stake in shares of LGI Homes by 69.9% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 296,207 shares of the company’s stock worth $7,207,000 after buying an additional 121,900 shares during the last quarter. Hodges Capital Management Inc. boosted its stake in shares of LGI Homes by 32.9% in the fourth quarter. Hodges Capital Management Inc. now owns 112,450 shares of the company’s stock worth $2,736,000 after buying an additional 27,850 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of LGI Homes during the fourth quarter worth approximately $1,723,000. Finally, Redwood Investments LLC boosted its stake in shares of LGI Homes by 67.6% in the fourth quarter. Redwood Investments LLC now owns 65,270 shares of the company’s stock worth $1,588,000 after buying an additional 26,330 shares during the last quarter.

LGI Homes, Inc is a homebuilder. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

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