Teza Capital Management LLC Reduces Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Teza Capital Management LLC lowered its position in LGI Homes, Inc. (NASDAQ:LGIH) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,575 shares of the financial services provider’s stock after selling 3,044 shares during the quarter. Teza Capital Management LLC’s holdings in LGI Homes were worth $1,035,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sherbrooke Park Advisers LLC acquired a new position in LGI Homes in the fourth quarter valued at about $329,000. Rafferty Asset Management LLC boosted its stake in LGI Homes by 51.7% during the fourth quarter. Rafferty Asset Management LLC now owns 13,991 shares of the financial services provider’s stock worth $1,251,000 after buying an additional 4,767 shares during the period. ProShare Advisors LLC boosted its stake in LGI Homes by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 6,289 shares of the financial services provider’s stock worth $562,000 after buying an additional 1,935 shares during the period. Millennium Management LLC boosted its stake in LGI Homes by 96.5% during the fourth quarter. Millennium Management LLC now owns 115,406 shares of the financial services provider’s stock worth $10,317,000 after buying an additional 56,664 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in LGI Homes by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,881 shares of the financial services provider’s stock worth $1,062,000 after buying an additional 468 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on LGIH. Seaport Res Ptn raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 27th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 target price on shares of LGI Homes in a research note on Wednesday, April 30th.

Insider Transactions at LGI Homes

In related news, COO Michael Larry Snider sold 1,105 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $75.94, for a total value of $83,913.70. Following the sale, the chief operating officer now owns 27,102 shares of the company’s stock, valued at $2,058,125.88. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.30% of the company’s stock.

LGI Homes Stock Up 1.7%

Shares of LGIH opened at $58.19 on Monday. The stock has a market capitalization of $1.36 billion, a PE ratio of 6.98 and a beta of 1.93. LGI Homes, Inc. has a 1 year low of $52.48 and a 1 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 company’s 50-day simple moving average is $61.57 and its 200-day simple moving average is $81.71.

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

About LGI Homes

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.