21,635 Shares in LGI Homes, Inc. (NASDAQ:LGIH) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in LGI Homes, Inc. (NASDAQ:LGIH) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,635 shares of the financial services provider’s stock, valued at approximately $1,934,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. grew its position in shares of LGI Homes by 131.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock valued at $13,222,000 after buying an additional 63,346 shares during the last quarter. Citigroup Inc. boosted its stake in LGI Homes by 60.9% in the third quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock valued at $4,954,000 after acquiring an additional 15,818 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of LGI Homes during the third quarter worth about $334,000. Covalent Partners LLC purchased a new stake in shares of LGI Homes in the 3rd quarter valued at about $2,655,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of LGI Homes by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,793 shares of the financial services provider’s stock valued at $33,685,000 after purchasing an additional 27,652 shares during the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at LGI Homes

In related news, COO Michael Larry Snider sold 1,105 shares of LGI Homes stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $75.94, for a total value of $83,913.70. Following the sale, the chief operating officer now directly owns 27,102 shares in the company, valued at $2,058,125.88. The trade was a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.40% of the company’s stock.

LGI Homes Stock Up 0.7 %

LGI Homes stock opened at $72.85 on Thursday. The stock has a 50 day moving average of $82.42 and a two-hundred day moving average of $97.35. LGI Homes, Inc. has a twelve month low of $68.66 and a twelve month high of $125.83. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 8.74 and a beta of 2.13. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.16). The company had revenue of $557.40 million for the quarter, compared to analyst estimates of $588.56 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. LGI Homes’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.19 earnings per share. As a group, research analysts expect that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wedbush restated a “neutral” rating and set a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Seaport Res Ptn upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, LGI Homes has a consensus rating of “Hold” and a consensus target price of $118.33.

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.