Comerica Bank Sells 2,025 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Comerica Bank lowered its position in LGI Homes, Inc. (NASDAQ:LGIH – Get Rating) by 11.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,794 shares of the financial services provider’s stock after selling 2,025 shares during the quarter. Comerica Bank’s holdings in LGI Homes were worth $1,301,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Campbell Newman Asset Management Inc. lifted its position in shares of LGI Homes by 2.4% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 11,776 shares of the financial services provider’s stock worth $958,000 after acquiring an additional 281 shares during the period. Wipfli Financial Advisors LLC bought a new stake in shares of LGI Homes in the 3rd quarter worth approximately $28,000. Ampfield Management L.P. lifted its position in shares of LGI Homes by 3.9% in the 3rd quarter. Ampfield Management L.P. now owns 332,994 shares of the financial services provider’s stock worth $27,096,000 after acquiring an additional 12,362 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of LGI Homes in the 3rd quarter worth approximately $797,000. Finally, Fragasso Group Inc. lifted its position in shares of LGI Homes by 12.4% in the 3rd quarter. Fragasso Group Inc. now owns 40,911 shares of the financial services provider’s stock worth $3,329,000 after acquiring an additional 4,506 shares during the period. Institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

LGIH has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on LGI Homes from $73.00 to $84.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 22nd. Wedbush cut their target price on LGI Homes from $94.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, October 10th. Finally, StockNews.com initiated coverage on LGI Homes in a research report on Wednesday, October 12th. They set a “sell” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, LGI Homes has a consensus rating of “Hold” and an average price target of $99.20.

Insider Buying and Selling at LGI Homes

In other news, Director Steven Randal Smith sold 991 shares of LGI Homes stock in a transaction on Thursday, December 22nd. The stock was sold at an average price of $95.27, for a total value of $94,412.57. Following the completion of the sale, the director now directly owns 1,490 shares of the company’s stock, valued at approximately $141,952.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.50% of the company’s stock.

LGI Homes Trading Up 2.3 %

Shares of LGIH opened at $109.81 on Tuesday. The stock has a fifty day moving average price of $98.64 and a two-hundred day moving average price of $95.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.47 and a current ratio of 10.89. LGI Homes, Inc. has a 52-week low of $71.73 and a 52-week high of $134.05. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 6.52 and a beta of 1.55.

LGI Homes (NASDAQ:LGIH – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.91 by ($0.06). LGI Homes had a net margin of 15.43% and a return on equity of 27.19%. The business had revenue of $547.07 million during the quarter, compared to the consensus estimate of $650.41 million. Analysts predict that LGI Homes, Inc. will post 13.92 EPS for the current fiscal year.

LGI Homes Profile

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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 companies looking to acquire single-family rental properties.