Royce & Associates LP Buys 30,461 Shares of LGI Homes, Inc. $LGIH

Royce & Associates LP boosted its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 53.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,729 shares of the financial services provider’s stock after purchasing an additional 30,461 shares during the quarter. Royce & Associates LP’s holdings in LGI Homes were worth $3,769,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LGIH. SG Americas Securities LLC boosted its position in LGI Homes by 1,158.0% during the fourth quarter. SG Americas Securities LLC now owns 91,471 shares of the financial services provider’s stock worth $3,930,000 after purchasing an additional 84,200 shares during the period. Voloridge Investment Management LLC boosted its position in LGI Homes by 118.5% during the third quarter. Voloridge Investment Management LLC now owns 155,012 shares of the financial services provider’s stock worth $8,016,000 after purchasing an additional 84,079 shares during the period. Voss Capital LP boosted its position in LGI Homes by 33.3% during the third quarter. Voss Capital LP now owns 300,000 shares of the financial services provider’s stock worth $15,513,000 after purchasing an additional 75,000 shares during the period. Shay Capital LLC bought a new position in LGI Homes during the second quarter worth $3,235,000. Finally, Qube Research & Technologies Ltd bought a new position in LGI Homes during the second quarter worth $2,788,000. 84.89% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other LGI Homes news, CFO Charles Michael Merdian sold 7,211 shares of LGI Homes stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $42.04, for a total value 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. The trade was a 25.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Scott James Garber sold 1,353 shares of LGI Homes 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 completion of the sale, the general counsel owned 21,716 shares of the company’s stock, valued at $912,940.64. This trade represents a 5.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,451 shares of company stock worth $943,840 in the last quarter. 12.60% of the stock is currently owned by corporate insiders.

LGI Homes Price Performance

Shares of LGI Homes stock opened at $47.81 on Friday. LGI Homes, Inc. has a twelve month low of $33.55 and a twelve month high of $69.50. The company has a quick ratio of 0.70, a current ratio of 18.56 and a debt-to-equity ratio of 0.81. The company has a 50-day simple moving average of $42.70 and a two-hundred day simple moving average of $47.08. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 15.68 and a beta of 1.90.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.22. LGI Homes had a net margin of 4.22% and a return on equity of 3.80%. The business had revenue of $319.74 million during the quarter, compared to analysts’ expectations of $328.22 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business’s revenue was down 9.0% on a year-over-year basis. Analysts forecast that LGI Homes, Inc. will post 2.76 EPS for the current year.

Analysts Set New Price Targets

LGIH has been the subject of a number of research analyst reports. Zacks Research raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Wall Street Zen cut shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. JPMorgan Chase & Co. lifted their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $72.75.

LGI Homes 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.