Stock Traders Purchase High Volume of LGI Homes Put Options (LGIH)
LGI Homes, Inc. (NASDAQ:LGIH) was the recipient of some unusual options trading activity on Friday. Investors purchased 528 put options on the stock. This is an increase of Infinity compared to the average daily volume of 0 put options.
LGI Homes (LGIH) opened at $65.07 on Wednesday. LGI Homes has a one year low of $26.82 and a one year high of $64.85. The firm has a market cap of $1,380.00, a P/E ratio of 15.90, a P/E/G ratio of 1.23 and a beta of 0.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.91 and a current ratio of 11.06.
LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.12. LGI Homes had a net margin of 9.22% and a return on equity of 23.65%. The business had revenue of $324.20 million for the quarter, compared to analyst estimates of $317.63 million. During the same quarter last year, the firm earned $0.96 EPS. LGI Homes’s quarterly revenue was up 45.6% compared to the same quarter last year. analysts forecast that LGI Homes will post 4.44 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on LGIH shares. Zacks Investment Research upgraded shares of LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, July 18th. BidaskClub cut shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 25th. Wedbush upgraded shares of LGI Homes from a “neutral” rating to an “outperform” rating and set a $49.00 price objective for the company in a research report on Thursday, August 31st. ValuEngine upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th. Finally, J P Morgan Chase & Co cut shares of LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price target for the company. in a research report on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. LGI Homes currently has an average rating of “Buy” and a consensus price target of $49.40.
In other LGI Homes news, Director Bryan Christopher Sansbury sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $46.30, for a total value of $1,157,500.00. Following the completion of the sale, the director now owns 159,551 shares in the company, valued at approximately $7,387,211.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Larry Snider sold 3,500 shares of the firm’s stock in a transaction dated 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 53,500 shares of company stock valued at $2,674,585 over the last three months. 13.60% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in LGI Homes by 85.3% during the 1st quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 1,422 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in LGI Homes by 82.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 1,533 shares during the last quarter. SG Americas Securities LLC bought a new position in LGI Homes during the 3rd quarter worth approximately $199,000. LS Investment Advisors LLC lifted its stake in LGI Homes by 37.3% in the third quarter. LS Investment Advisors LLC now owns 4,214 shares of the financial services provider’s stock valued at $205,000 after buying an additional 1,145 shares in the last quarter. Finally, Morse Asset Management Inc bought a new position in LGI Homes in the third quarter valued at approximately $238,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.
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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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