Bank of New York Mellon Corp reduced its position in shares of LGI Homes Inc (NASDAQ:LGIH) by 6.8% in the fourth quarter, HoldingsChannel reports. The firm owned 266,331 shares of the financial services provider’s stock after selling 19,447 shares during the period. Bank of New York Mellon Corp’s holdings in LGI Homes were worth $19,982,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Midas Management Corp bought a new position in LGI Homes during the 4th quarter valued at $191,000. SG Americas Securities LLC bought a new position in LGI Homes during the 3rd quarter valued at $199,000. Albion Financial Group UT bought a new position in LGI Homes during the 3rd quarter valued at $213,000. Stifel Financial Corp bought a new position in LGI Homes during the 3rd quarter valued at $216,000. Finally, CAPROCK Group Inc. bought a new position in LGI Homes during the 4th quarter valued at $217,000. 84.84% of the stock is owned by hedge funds and other institutional investors.

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A number of equities analysts have issued reports on LGIH shares. Wedbush raised LGI Homes from a “neutral” rating to an “outperform” rating and increased their price target for the company from $59.51 to $73.00 in a research note on Tuesday, February 13th. BidaskClub upgraded LGI Homes from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “strong-buy” rating and set a $91.00 price objective for the company in a research report on Thursday, January 4th. Finally, ValuEngine upgraded LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $61.50.

In other news, CMO Rachel Lyons Eaton sold 1,541 shares of the stock in a transaction on Friday, March 16th. The stock was sold at an average price of $63.80, for a total value of $98,315.80. Following the completion of the sale, the chief marketing officer now owns 34,223 shares in the company, valued at $2,183,427.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ryan Edone bought 1,400 shares of LGI Homes stock in a transaction dated Friday, March 2nd. The stock was acquired at an average price of $56.36 per share, with a total value of $78,904.00. Following the acquisition, the director now directly owns 22,982 shares of the company’s stock, valued at $1,295,265.52. The disclosure for this purchase can be found here. Insiders sold 114,432 shares of company stock valued at $7,506,512 in the last 90 days. Corporate insiders own 13.60% of the company’s stock.

Shares of LGI Homes stock opened at $69.01 on Thursday. LGI Homes Inc has a 52-week low of $28.57 and a 52-week high of $79.55. The company has a market capitalization of $1,476.39, a price-to-earnings ratio of 14.56, a PEG ratio of 0.98 and a beta of 0.31. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 9.16.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. LGI Homes had a return on equity of 26.41% and a net margin of 9.01%. The company had revenue of $405.00 million during the quarter, compared to the consensus estimate of $377.46 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s quarterly revenue was up 71.0% compared to the same quarter last year. sell-side analysts forecast that LGI Homes Inc will post 6.1 earnings per share for the current fiscal year.

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LGI Homes Company Profile

LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

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

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