Charles Michael Merdian Sells 7,211 Shares of LGI Homes (NASDAQ:LGIH) Stock

LGI Homes, Inc. (NASDAQ:LGIH) CFO Charles Michael Merdian sold 7,211 shares of LGI Homes stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $42.04, for a total transaction of $303,150.44. Following the completion of the sale, the chief financial officer owned 20,540 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through this hyperlink.

LGI Homes Stock Down 2.5%

LGIH traded down $1.11 during trading hours on Tuesday, hitting $42.55. 374,149 shares of the company’s stock were exchanged, compared to its average volume of 395,271. LGI Homes, Inc. has a 1-year low of $39.70 and a 1-year high of $76.42. The stock’s 50-day moving average is $51.82 and its two-hundred day moving average is $51.25. The stock has a market cap of $984.18 million, a price-to-earnings ratio of 13.59 and a beta of 1.88. The company has a quick ratio of 0.76, a current ratio of 20.98 and a debt-to-equity ratio of 0.79.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $479.60 million. During the same period in the previous year, the business earned $2.15 EPS. The company’s revenue was down 15.0% compared to the same quarter last year. Sell-side analysts predict that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Institutional Trading of LGI Homes

A number of hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its stake 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 acquiring an additional 237 shares during the period. Los Angeles Capital Management LLC bought a new stake in LGI Homes in the 4th quarter valued at $29,000. 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 valued at $30,000 after purchasing an additional 305 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in LGI Homes during the 4th quarter valued at $32,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in LGI Homes by 7,240.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,101 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,086 shares during the period. 84.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a 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 upped their price objective 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 investment 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, LGI Homes presently has an average rating of “Hold” and a consensus price target of $74.63.

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.