Prospera Financial Services Inc Takes $557,000 Position in LGI Homes, Inc. $LGIH

Prospera Financial Services Inc acquired a new stake in LGI Homes, Inc. (NASDAQ:LGIH) in the 4th quarter, HoldingsChannel reports. The fund acquired 12,960 shares of the financial services provider’s stock, valued at approximately $557,000.

A number of other institutional investors have also recently modified their holdings of the business. Global Retirement Partners LLC grew its position in shares of LGI Homes by 5,225.0% during the 4th quarter. Global Retirement Partners LLC now owns 3,408 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 3,344 shares during the period. Fulcrum Asset Management LLP grew its position in shares of LGI Homes by 7,903.8% during the 4th quarter. Fulcrum Asset Management LLP now owns 21,050 shares of the financial services provider’s stock valued at $904,000 after acquiring an additional 20,787 shares during the period. Jennison Associates LLC grew its position in shares of LGI Homes by 58.6% during the 4th quarter. Jennison Associates LLC now owns 28,957 shares of the financial services provider’s stock valued at $1,244,000 after acquiring an additional 10,695 shares during the period. KTF Investments LLC acquired a new stake in shares of LGI Homes during the 4th quarter valued at about $365,000. Finally, Comerica Bank grew its position in shares of LGI Homes by 40.3% during the 4th quarter. Comerica Bank now owns 44,902 shares of the financial services provider’s stock valued at $1,929,000 after acquiring an additional 12,905 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Trading Down 1.9%

LGIH stock opened at $47.81 on Friday. The company has a current ratio of 18.56, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. LGI Homes, Inc. has a 12-month low of $33.55 and a 12-month high of $69.50. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 15.68 and a beta of 1.90. The business’s 50-day moving average is $42.70 and its 200 day moving average is $47.08.

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

Insider Buying and Selling

In related news, CFO Charles Michael Merdian sold 7,211 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 value of $303,150.44. Following the sale, the chief financial officer directly owned 20,540 shares in the company, valued at approximately $863,501.60. The trade was a 25.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 value of $56,880.12. Following the completion of the sale, the general counsel owned 21,716 shares in the company, valued at approximately $912,940.64. The trade was a 5.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 22,451 shares of company stock worth $943,840. Insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

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

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.