LGI Homes (NASDAQ:LGIH) Shares Climb 7.5% – Here’s What Happened

LGI Homes, Inc. (NASDAQ:LGIH) traded up 7.5% during trading on Thursday. The stock traded as high as $42.88 and last traded at $42.9960. Approximately 233,299 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 399,738 shares. The stock had previously closed at $40.01.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings cut shares of LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, September 21st. Wall Street Zen raised LGI Homes from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Finally, Citigroup restated a “market outperform” rating on shares of LGI Homes in a research note on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, LGI Homes has a consensus rating of “Hold” and an average price target of $68.00.

LGI Homes Stock Down 0.7%

The company has a quick ratio of 0.61, a current ratio of 17.74 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $987.43 million, a P/E ratio of 14.90 and a beta of 1.86. The company has a fifty day moving average price of $50.05 and a 200-day moving average price of $51.34.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.18. The firm had revenue of $516.05 million for the quarter, compared to analysts’ expectations of $489.23 million. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LGIH. GAMMA Investing LLC grew its stake in LGI Homes by 14.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,093 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 269 shares during the period. Allworth Financial LP raised its position in LGI Homes by 159.8% during the second quarter. Allworth Financial LP now owns 878 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 540 shares during the period. Everhart Financial Group Inc. grew its position in shares of LGI Homes by 9.4% in the third quarter. Everhart Financial Group Inc. now owns 7,520 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 648 shares during the period. Compass Wealth Management LLC acquired a new stake in shares of LGI Homes in the third quarter valued at about $33,000. Finally, Rockefeller Capital Management L.P. increased its stake in shares of LGI Homes by 1,759.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 827 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc is a homebuilder that designs, constructs and sells single-family homes in planned residential communities across the United States. The company primarily serves entry-level and first-time homebuyers, while also offering homes for move-up buyers and active-adult customers. Its communities typically feature standardized home designs, modern amenities and financing-related support intended to simplify the homebuying process.

Founded in 2003, LGI Homes has expanded from its original Texas operations into numerous housing markets throughout the South, Southwest and other high-growth regions.