Piedmont Investment Advisors Inc. grew its holdings in shares of LGI Homes Inc (NASDAQ:LGIH) by 6.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 4,706 shares of the financial services provider’s stock after purchasing an additional 276 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in LGI Homes were worth $283,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. First Mercantile Trust Co. raised its position in shares of LGI Homes by 28.6% during the fourth quarter. First Mercantile Trust Co. now owns 3,407 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 757 shares during the period. Macquarie Group Ltd. raised its position in shares of LGI Homes by 514.4% during the fourth quarter. Macquarie Group Ltd. now owns 3,883 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 3,251 shares during the period. Gotham Asset Management LLC acquired a new position in shares of LGI Homes during the fourth quarter worth approximately $210,000. 6 Meridian acquired a new position in shares of LGI Homes during the first quarter worth approximately $217,000. Finally, Everence Capital Management Inc. acquired a new position in shares of LGI Homes during the first quarter worth approximately $225,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.

NASDAQ LGIH opened at $69.55 on Tuesday. The firm has a market capitalization of $1.56 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.92 and a beta of 0.61. LGI Homes Inc has a 12 month low of $37.16 and a 12 month high of $72.89. The company has a quick ratio of 1.35, a current ratio of 16.86 and a debt-to-equity ratio of 1.00.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, May 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.13). LGI Homes had a net margin of 9.67% and a return on equity of 23.28%. The business had revenue of $287.60 million for the quarter, compared to analysts’ expectations of $288.06 million. During the same period in the prior year, the business earned $1.10 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities analysts expect that LGI Homes Inc will post 6.71 EPS for the current year.

A number of brokerages have recently weighed in on LGIH. Wells Fargo & Co upped their target price on LGI Homes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Zacks Investment Research lowered LGI Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. JMP Securities set a $79.00 target price on LGI Homes and gave the stock a “buy” rating in a research report on Tuesday, April 9th. BidaskClub raised LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 9th. Finally, ValuEngine raised LGI Homes from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $69.90.

In other news, insider Rachel Lyons Eaton sold 8,490 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $56.85, for a total transaction of $482,656.50. Following the completion of the sale, the insider now directly owns 39,967 shares of the company’s stock, valued at approximately $2,272,123.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Charles Michael Merdian sold 12,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $57.20, for a total value of $686,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,611 shares of company stock valued at $7,928,312. Insiders own 13.40% of the company’s stock.

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LGI Homes Profile

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

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