Comerica Bank Cuts Position in LGI Homes, Inc. (NASDAQ:LGIH)

Comerica Bank cut its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 34.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,227 shares of the financial services provider’s stock after selling 8,051 shares during the quarter. Comerica Bank owned about 0.06% of LGI Homes worth $1,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. grew its stake in LGI Homes by 112.9% during the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after buying an additional 184 shares during the last quarter. Sterling Capital Management LLC grew its stake in LGI Homes by 801.5% during the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider’s stock worth $55,000 after buying an additional 545 shares during the last quarter. KBC Group NV grew its stake in LGI Homes by 51.6% during the 4th quarter. KBC Group NV now owns 1,110 shares of the financial services provider’s stock worth $99,000 after buying an additional 378 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in LGI Homes by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider’s stock worth $195,000 after buying an additional 141 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in LGI Homes by 10.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider’s stock worth $198,000 after buying an additional 212 shares during the last quarter. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Seaport Res Ptn upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. dropped their target price on LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, JMP Securities restated a “market outperform” rating and set a $140.00 target price on shares of LGI Homes in a research note on Wednesday, April 30th.

LGI Homes Stock Performance

Shares of LGIH opened at $55.31 on Monday. The stock has a 50-day moving average of $63.20 and a two-hundred day moving average of $83.26. LGI Homes, Inc. has a one year low of $52.48 and a one year high of $125.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The stock has a market cap of $1.29 billion, a P/E ratio of 6.63 and a beta of 1.93.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.29). LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The firm had revenue of $351.42 million for the quarter, compared to analyst estimates of $380.07 million. During the same period in the prior year, the firm posted $0.72 EPS. The business’s revenue was down 10.1% compared to the same quarter last year. As a group, research analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current year.

Insiders Place Their Bets

In other news, COO Michael Larry Snider sold 1,105 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $75.94, for a total value of $83,913.70. Following the completion of the transaction, the chief operating officer now owns 27,102 shares of the company’s stock, valued at $2,058,125.88. The trade was a 3.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.30% of the stock is currently owned by insiders.

LGI Homes Profile

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.