Illinois Municipal Retirement Fund Sells 509 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Illinois Municipal Retirement Fund lessened its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,891 shares of the financial services provider’s stock after selling 509 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.05% of LGI Homes worth $1,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. RiverPark Advisors LLC bought a new position in LGI Homes in the third quarter valued at about $49,000. International Assets Investment Management LLC bought a new position in shares of LGI Homes in the 4th quarter valued at about $71,000. Financial Management Professionals Inc. grew its position in shares of LGI Homes by 27.3% during the 4th quarter. Financial Management Professionals Inc. now owns 537 shares of the financial services provider’s stock worth $72,000 after buying an additional 115 shares during the period. CWM LLC raised its stake in shares of LGI Homes by 164.2% during the fourth quarter. CWM LLC now owns 605 shares of the financial services provider’s stock worth $81,000 after buying an additional 376 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of LGI Homes by 54.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,753 shares of the financial services provider’s stock worth $174,000 after buying an additional 615 shares during the last quarter. 84.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on LGIH. StockNews.com raised shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Thursday. Wedbush reiterated 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. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $110.50.

Insider Transactions at LGI Homes

In other news, General Counsel Scott James Garber sold 1,212 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was 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 $1,547,596.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Charles Michael Merdian sold 6,361 shares of LGI Homes stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $712,113.95. Following the sale, the chief financial officer now owns 9,458 shares of the company’s stock, valued at $1,058,823.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Scott James Garber sold 1,212 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $135,683.40. Following the sale, the general counsel now owns 13,824 shares in the company, valued at approximately $1,547,596.80. The disclosure for this sale can be found here. Insiders sold 26,435 shares of company stock valued at $2,944,291 over the last quarter. Corporate insiders own 12.40% of the company’s stock.

LGI Homes Price Performance

LGIH opened at $95.85 on Friday. The stock has a market cap of $2.26 billion, a P/E ratio of 11.38 and a beta of 1.83. LGI Homes, Inc. has a 12 month low of $84.15 and a 12 month high of $141.91. The company has a quick ratio of 0.42, a current ratio of 10.66 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $107.87 and a 200 day simple moving average of $113.45.

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

About LGI Homes

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.