Norges Bank Takes Position in LGI Homes, Inc. (NASDAQ:LGIH)

Norges Bank acquired a new stake in LGI Homes, Inc. (NASDAQ:LGIHFree Report) in the 4th quarter, Holdings Channel reports. The fund acquired 58,397 shares of the financial services provider’s stock, valued at approximately $7,776,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC bought a new position in shares of LGI Homes in the fourth quarter valued at approximately $38,000. First Horizon Advisors Inc. boosted its holdings in shares of LGI Homes by 35.8% in the fourth quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 93 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of LGI Homes in the fourth quarter valued at approximately $71,000. Financial Management Professionals Inc. boosted its holdings in shares of LGI Homes by 27.3% in the fourth quarter. Financial Management Professionals Inc. now owns 537 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 115 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of LGI Homes by 164.2% in the fourth quarter. CWM LLC now owns 605 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 376 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. JMP Securities reissued a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a research note on Friday, April 5th. Finally, Wedbush reissued an “underperform” rating and set a $74.00 target price on shares of LGI Homes in a research note on Thursday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $110.50.

View Our Latest Stock Analysis on LGIH

LGI Homes Stock Down 0.9 %

Shares of NASDAQ:LGIH opened at $95.99 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.43 and a current ratio of 12.36. The company has a market cap of $2.26 billion, a PE ratio of 12.00 and a beta of 1.91. LGI Homes, Inc. has a 52 week low of $84.15 and a 52 week high of $141.91. The firm has a 50 day simple moving average of $98.76 and a 200 day simple moving average of $112.85.

LGI Homes (NASDAQ:LGIHGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.72 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.30). The firm had revenue of $390.90 million during the quarter, compared to analysts’ expectations of $400.00 million. LGI Homes had a net margin of 8.37% and a return on equity of 10.43%. The firm’s revenue was down 19.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. As a group, research analysts expect that LGI Homes, Inc. will post 9.07 earnings per share for the current year.

Insider Activity at LGI Homes

In related news, CFO Charles Michael Merdian sold 6,361 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $712,113.95. Following the completion of the sale, the chief financial officer now owns 9,458 shares in the company, valued at approximately $1,058,823.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other LGI Homes news, COO Michael Larry Snider sold 7,993 shares of the company’s stock in a transaction that occurred 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 owns 19,016 shares in the company, valued at approximately $2,092,900.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Charles Michael Merdian sold 6,361 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $712,113.95. Following the completion of the transaction, the chief financial officer now owns 9,458 shares in the company, valued at approximately $1,058,823.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,435 shares of company stock worth $2,944,291. 12.40% of the stock is owned by corporate insiders.

LGI Homes Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

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