Wasatch Advisors Inc. trimmed its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 12.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 703,231 shares of the financial services provider’s stock after selling 98,453 shares during the quarter. Wasatch Advisors Inc. owned about 3.25% of LGI Homes worth $34,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Alps Advisors Inc. lifted its stake in LGI Homes by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 15,333 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 40 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in LGI Homes by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System lifted its stake in LGI Homes by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 9,000 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 100 shares in the last quarter. California State Teachers Retirement System lifted its stake in LGI Homes by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 30,595 shares of the financial services provider’s stock worth $1,229,000 after purchasing an additional 200 shares in the last quarter. Finally, Texas Permanent School Fund lifted its stake in LGI Homes by 2.3% in the 2nd quarter. Texas Permanent School Fund now owns 12,616 shares of the financial services provider’s stock worth $507,000 after purchasing an additional 289 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on LGIH shares. Wedbush raised shares of LGI Homes from a “neutral” rating to an “outperform” rating and set a $49.00 target price on the stock in a research note on Thursday, August 31st. JMP Securities raised their target price on shares of LGI Homes from $62.00 to $68.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 8th. Deutsche Bank AG raised their target price on shares of LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. BidaskClub lowered shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 25th. Finally, ValuEngine raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 30th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $54.33.

In related news, Director Bryan Christopher Sansbury sold 23,101 shares of LGI Homes stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $63.28, for a total value of $1,461,831.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Larry Snider sold 3,500 shares of LGI Homes stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $45.81, for a total transaction of $160,335.00. Following the completion of the sale, the insider now owns 191,948 shares of the company’s stock, valued at approximately $8,793,137.88. The disclosure for this sale can be found here. Insiders have sold a total of 71,601 shares of company stock valued at $4,233,916 in the last 90 days. Insiders own 13.60% of the company’s stock.

Shares of LGI Homes, Inc. (LGIH) traded up $2.35 during midday trading on Wednesday, hitting $67.73. 401,700 shares of the stock were exchanged, compared to its average volume of 381,351. The firm has a market cap of $1,421.22, a P/E ratio of 15.13, a P/E/G ratio of 1.31 and a beta of 0.20. The company has a debt-to-equity ratio of 1.04, a current ratio of 8.91 and a quick ratio of 0.86. LGI Homes, Inc. has a fifty-two week low of $26.82 and a fifty-two week high of $67.85.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.10. The business had revenue of $365.90 million during the quarter, compared to the consensus estimate of $355.81 million. LGI Homes had a net margin of 9.26% and a return on equity of 25.51%. The business’s revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 EPS. equities research analysts forecast that LGI Homes, Inc. will post 4.54 earnings per share for the current fiscal year.

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About LGI Homes

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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