LGI Homes, Inc. (NASDAQ:LGIH) Shares Sold by abrdn plc

abrdn plc cut its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 23.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 96,466 shares of the financial services provider’s stock after selling 29,834 shares during the period. abrdn plc’s holdings in LGI Homes were worth $12,845,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LGIH. Tributary Capital Management LLC raised its position in shares of LGI Homes by 24.5% in the fourth quarter. Tributary Capital Management LLC now owns 133,742 shares of the financial services provider’s stock valued at $17,809,000 after buying an additional 26,280 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its position in shares of LGI Homes by 102.7% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 35,149 shares of the financial services provider’s stock valued at $4,680,000 after buying an additional 17,811 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of LGI Homes in the third quarter valued at about $568,000. Rhumbline Advisers raised its position in shares of LGI Homes by 0.7% in the third quarter. Rhumbline Advisers now owns 66,913 shares of the financial services provider’s stock valued at $6,657,000 after buying an additional 437 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of LGI Homes by 105.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,313 shares of the financial services provider’s stock valued at $1,325,000 after buying an additional 6,842 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Michael Larry Snider sold 7,993 shares of LGI Homes stock in a transaction on Monday, March 11th. The shares were sold at an average price of $110.06, for a total value of $879,709.58. Following the transaction, the chief operating officer now directly owns 19,016 shares in the company, valued at approximately $2,092,900.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Scott James Garber sold 1,212 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $135,683.40. Following the sale, the general counsel now directly owns 13,824 shares in the company, valued at approximately $1,547,596.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Larry Snider sold 7,993 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $110.06, for a total transaction of $879,709.58. Following the completion of the sale, the chief operating officer now owns 19,016 shares in the company, valued at $2,092,900.96. The disclosure for this sale can be found here. Insiders have sold 26,435 shares of company stock valued at $2,944,291 in the last ninety days. 12.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wedbush reissued an “underperform” rating and issued a $74.00 price objective (down previously from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd. JMP Securities reissued a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a report on Friday, April 5th. Finally, StockNews.com raised shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $110.50.

LGI Homes Stock Down 1.0 %

LGIH stock opened at $94.88 on Friday. The company has a current ratio of 10.66, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67. LGI Homes, Inc. has a twelve month low of $84.15 and a twelve month high of $141.91. The company’s 50 day moving average is $108.58 and its two-hundred day moving average is $113.58. The stock has a market cap of $2.24 billion, a P/E ratio of 11.27 and a beta of 1.83.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, February 20th. The financial services provider reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.35). The company had revenue of $608.41 million for the quarter, compared to analyst estimates of $663.95 million. LGI Homes had a return on equity of 11.28% and a net margin of 8.45%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.45 EPS. Research analysts expect that LGI Homes, Inc. will post 9.24 earnings per share for the current fiscal year.

LGI Homes Company Profile

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 large institutions looking to acquire single-family rental properties.