Short Interest in LGI Homes Inc (NASDAQ:LGIH) Increases By 26.7%
LGI Homes Inc (NASDAQ:LGIH) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 3,616,100 shares, an increase of 26.7% from the May 30th total of 2,853,300 shares. Based on an average daily volume of 248,500 shares, the short-interest ratio is presently 14.6 days. Currently, 19.4% of the shares of the company are sold short.
In other news, Director Steven Randal Smith sold 2,500 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $74.49, for a total value of $186,225.00. Following the completion of the transaction, the director now directly owns 12,407 shares of the company’s stock, valued at $924,197.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric Thomas Lipar sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $70.91, for a total value of $709,100.00. Following the completion of the transaction, the chief executive officer now directly owns 544,509 shares of the company’s stock, valued at $38,611,133.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,670 shares of company stock valued at $1,792,334. 13.40% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Sheets Smith Wealth Management purchased a new position in shares of LGI Homes in the second quarter worth about $546,000. Xact Kapitalforvaltning AB purchased a new position in shares of LGI Homes in the second quarter worth about $233,000. Scout Investments Inc. increased its holdings in shares of LGI Homes by 65.1% in the second quarter. Scout Investments Inc. now owns 105,558 shares of the financial services provider’s stock worth $7,540,000 after buying an additional 41,621 shares during the period. First Trust Advisors LP increased its holdings in shares of LGI Homes by 100.7% in the first quarter. First Trust Advisors LP now owns 63,298 shares of the financial services provider’s stock worth $3,813,000 after buying an additional 31,761 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of LGI Homes by 0.5% in the first quarter. Nordea Investment Management AB now owns 103,398 shares of the financial services provider’s stock worth $6,229,000 after buying an additional 529 shares during the period. 94.44% of the stock is owned by institutional investors.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.13). The business had revenue of $287.60 million for the quarter, compared to the consensus estimate of $288.06 million. LGI Homes had a net margin of 9.67% and a return on equity of 23.28%. LGI Homes’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS. As a group, equities research analysts anticipate that LGI Homes will post 6.69 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the company. Wells Fargo & Co raised their price target on Wingstop from $76.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday. BidaskClub lowered Weyco Group from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, JMP Securities set a $79.00 price target on LGI Homes and gave the stock a “buy” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $70.50.
LGI Homes Company Profile
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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