Insider Selling: LGI Homes (NASDAQ:LGIH) General Counsel Sells $56,880.12 in Stock

LGI Homes, Inc. (NASDAQ:LGIH) General Counsel Scott James Garber sold 1,353 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $42.04, for a total transaction of $56,880.12. Following the transaction, the general counsel owned 21,716 shares of the company’s stock, valued at $912,940.64. This represents a 5.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

LGI Homes Stock Performance

NASDAQ LGIH opened at $41.03 on Friday. The company’s fifty day moving average is $51.73 and its two-hundred day moving average is $50.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 20.98 and a quick ratio of 0.76. The firm 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.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. LGI Homes had a net margin of 4.25% and a return on equity of 4.08%. The company had revenue of $473.97 million during the quarter, compared to analysts’ expectations of $479.60 million. During the same quarter in the prior year, the company posted $2.15 EPS. The business’s revenue was down 15.0% on a year-over-year basis. Equities research analysts forecast that LGI Homes, Inc. will post 8.46 EPS for the current year.

Institutional Investors Weigh In On LGI Homes

Several hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its stake in LGI Homes by 75.5% during 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 buying an additional 237 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of LGI Homes by 106.6% during the second 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. Los Angeles Capital Management LLC purchased a new stake in LGI Homes during the 4th quarter valued at about $29,000. Kemnay Advisory Services Inc. purchased a new position in LGI Homes in the fourth quarter worth about $32,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in LGI Homes by 74.8% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 928 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 397 shares in the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citizens Jmp increased their target price on shares of LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 7th. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.63.

LGI Homes Company Profile

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.