Shares of LGI Homes Inc. (NASDAQ:LGIH) dropped 4.9% during mid-day trading on Thursday . The stock traded as low as $31.10 and last traded at $33.05, with a volume of 612,770 shares traded. The stock had previously closed at $34.74.

A number of research firms have recently commented on LGIH. Zacks Investment Research downgraded shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Monday, June 6th. JMP Securities reaffirmed a “buy” rating on shares of LGI Homes in a report on Saturday, July 9th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. LGI Homes has a consensus rating of “Buy” and an average price target of $34.70.

The stock’s 50-day moving average is $32.72 and its 200 day moving average is $26.73. The stock has a market capitalization of $675.59 million and a PE ratio of 12.16.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The company earned $162.50 million during the quarter, compared to analyst estimates of $167.55 million. LGI Homes’s revenue for the quarter was up 34.6% on a year-over-year basis. On average, analysts predict that LGI Homes Inc. will post $3.32 earnings per share for the current fiscal year.

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

Other institutional investors have added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in LGI Homes by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 51,456 shares of the company’s stock valued at $1,252,000 after buying an additional 1,400 shares during the period. Redwood Investments LLC increased its position in LGI Homes by 67.6% in the fourth quarter. Redwood Investments LLC now owns 65,270 shares of the company’s stock valued at $1,588,000 after buying an additional 26,330 shares during the period. Trexquant Investment LP acquired a new position in LGI Homes during the fourth quarter valued at approximately $1,723,000. Hodges Capital Management Inc. increased its position in LGI Homes by 32.9% in the fourth quarter. Hodges Capital Management Inc. now owns 112,450 shares of the company’s stock valued at $2,736,000 after buying an additional 27,850 shares during the period. Finally, Alpine Woods Capital Investors LLC increased its position in LGI Homes by 69.9% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 296,207 shares of the company’s stock valued at $7,207,000 after buying an additional 121,900 shares during the period.

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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