Citigroup Inc. Purchases 4,277 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Citigroup Inc. grew its position in LGI Homes, Inc. (NASDAQ:LGIH – Get Rating) by 21.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,770 shares of the financial services provider’s stock after acquiring an additional 4,277 shares during the period. Citigroup Inc.’s holdings in LGI Homes were worth $2,201,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. MCF Advisors LLC acquired a new position in LGI Homes in the fourth quarter worth $26,000. IFP Advisors Inc acquired a new stake in LGI Homes in the 4th quarter valued at about $65,000. Arcadia Investment Management Corp MI acquired a new stake in LGI Homes in the 4th quarter valued at about $66,000. Quadrant Capital Group LLC raised its stake in shares of LGI Homes by 125.3% in 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 during the last quarter. Finally, Quantbot Technologies LP bought a new position in LGI Homes in the 3rd quarter worth approximately $83,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at LGI Homes

In other LGI Homes news, CEO Eric Thomas Lipar sold 38,373 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $104.39, for a total transaction of $4,005,757.47. Following the sale, the chief executive officer now directly owns 605,796 shares in the company, valued at approximately $63,239,044.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Eric Thomas Lipar sold 38,373 shares of the firm’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $104.39, for a total transaction of $4,005,757.47. Following the sale, the chief executive officer now directly owns 605,796 shares in the company, valued at $63,239,044.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Charles Michael Merdian sold 13,950 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $104.39, for a total transaction of $1,456,240.50. Following the completion of the transaction, the chief financial officer now directly owns 15,482 shares of the company’s stock, valued at $1,616,165.98. The disclosure for this sale can be found here. In the last three months, insiders sold 86,210 shares of company stock worth $8,999,462. 12.40% of the stock is owned by company insiders.

LGI Homes Stock Up 0.1 %

Shares of NASDAQ LGIH opened at $115.19 on Thursday. The firm has a 50 day moving average price of $113.81 and a 200 day moving average price of $106.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.25 and a current ratio of 7.82. The stock has a market cap of $2.71 billion, a P/E ratio of 9.90 and a beta of 1.69. LGI Homes, Inc. has a 52-week low of $71.73 and a 52-week high of $126.37.

LGI Homes (NASDAQ:LGIH – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The financial services provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The firm had revenue of $487.40 million during the quarter, compared to the consensus estimate of $467.54 million. LGI Homes had a net margin of 12.24% and a return on equity of 17.08%. LGI Homes’s quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.25 EPS. Analysts expect that LGI Homes, Inc. will post 7.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LGIH. Wedbush dropped their target price on LGI Homes from $91.00 to $89.00 and set a “neutral” rating for the company in a research report on Wednesday, April 12th. 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 research report on Tuesday, February 28th. StockNews.com initiated coverage on shares of LGI Homes in a report on Thursday, May 18th. They issued a “sell” rating on the stock. JPMorgan Chase & Co. lowered their target price on shares of LGI Homes from $84.00 to $79.00 and set an “underweight” rating for the company in a report on Thursday, February 23rd. Finally, BTIG Research increased their price target on LGI Homes from $73.00 to $77.00 in a research note on Wednesday, May 3rd. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $93.00.

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.