Raymond James & Associates Cuts Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Raymond James & Associates lowered its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH – Get Rating) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,688 shares of the financial services provider’s stock after selling 2,098 shares during the quarter. Raymond James & Associates’ holdings in LGI Homes were worth $6,175,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. MCF Advisors LLC bought a new position in LGI Homes in the fourth quarter valued at $26,000. IFP Advisors Inc bought a new position in LGI Homes during the fourth quarter valued at approximately $65,000. Arcadia Investment Management Corp MI purchased a new position in shares of LGI Homes during the fourth quarter worth approximately $66,000. Quadrant Capital Group LLC raised its stake in shares of LGI Homes by 125.3% during the third quarter. Quadrant Capital Group LLC now owns 901 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 501 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of LGI Homes in the 3rd quarter valued at $83,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

LGI Homes Price Performance

Shares of LGI Homes stock opened at $121.70 on Monday. The business has a 50 day moving average of $113.02 and a 200 day moving average of $105.94. LGI Homes, Inc. has a 52 week low of $71.73 and a 52 week high of $126.37. The company has a market cap of $2.86 billion, a PE ratio of 10.46 and a beta of 1.69. The company has a quick ratio of 0.25, a current ratio of 7.82 and a debt-to-equity ratio of 0.62.

LGI Homes (NASDAQ:LGIH – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). LGI Homes had a net margin of 12.24% and a return on equity of 17.08%. The company had revenue of $487.40 million for the quarter, compared to analysts’ expectations of $467.54 million. During the same period in the previous year, the firm posted $3.25 earnings per share. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. As a group, equities research analysts forecast that LGI Homes, Inc. will post 7.37 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on LGIH shares. Wedbush decreased their target price on shares of LGI Homes from $91.00 to $89.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 12th. BTIG Research increased their target price on LGI Homes from $73.00 to $77.00 in a report on Wednesday, May 3rd. JPMorgan Chase & Co. decreased their price target on LGI Homes from $84.00 to $79.00 and set an “underweight” rating on the stock in a research note on Thursday, February 23rd. StockNews.com began coverage on shares of LGI Homes in a report on Thursday. They issued a “sell” rating on the stock. Finally, JMP Securities lowered their price target on shares of LGI Homes from $140.00 to $130.00 and set a “market perform” rating for the company in a report on Tuesday, February 28th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $93.00.

Insider Buying and Selling

In other LGI Homes news, CEO Eric Thomas Lipar sold 38,373 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $104.39, for a total transaction of $4,005,757.47. Following the transaction, the chief executive officer now owns 605,796 shares in the company, valued at approximately $63,239,044.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Eric Thomas Lipar sold 38,373 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $104.39, for a total value of $4,005,757.47. Following the sale, the chief executive officer now directly owns 605,796 shares of the company’s stock, valued at approximately $63,239,044.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Rachel Lyons Eaton sold 8,015 shares of LGI Homes stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $104.39, for a total transaction of $836,685.85. Following the transaction, the chief marketing officer now directly owns 39,910 shares of the company’s stock, valued at $4,166,204.90. The disclosure for this sale can be found here. Insiders sold a total of 86,210 shares of company stock valued at $8,999,462 over the last three months. Corporate insiders own 12.40% of the company’s stock.

LGI Homes Profile

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LGI Homes, Inc engages in the design, construction, marketing, and sale of new homes. It focuses on the residential land development business. It operates through the following segments: Central, West, Southeast, Florida, Midwest, Mid-Atlantic, and Northwest. The company was founded by Eric Thomas Lipar in 2003 and is headquartered in The Woodlands, TX.