LGI Homes (NASDAQ:LGIH) Shares Cross Below 200-Day Moving Average – Time to Sell?

LGI Homes, Inc. (NASDAQ:LGIH)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $46.96 and traded as low as $40.16. LGI Homes shares last traded at $41.24, with a volume of 558,173 shares.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Wall Street Zen upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Zacks Research upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $72.75.

LGI Homes Stock Up 2.1%

The firm’s fifty day moving average price is $41.88 and its 200-day moving average price is $46.96. The company has a market capitalization of $958.01 million, a price-to-earnings ratio of 13.52 and a beta of 1.90. The company has a debt-to-equity ratio of 0.81, a current ratio of 18.56 and a quick ratio of 0.70.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.22. The business had revenue of $319.74 million during the quarter, compared to the consensus estimate of $328.22 million. LGI Homes had a return on equity of 3.80% and a net margin of 4.22%.LGI Homes’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. Sell-side analysts expect that LGI Homes, Inc. will post 2.76 earnings per share for the current fiscal year.

Insider Activity at LGI Homes

In related news, General Counsel Scott James Garber sold 1,353 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $56,880.12. Following the completion of the sale, the general counsel directly owned 21,716 shares in the company, valued at $912,940.64. This represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael Larry Snider sold 6,000 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $42.04, for a total value of $252,240.00. Following the completion of the sale, the chief operating officer owned 175,556 shares of the company’s stock, valued at $7,380,374.24. The trade was a 3.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,451 shares of company stock worth $943,840 over the last three months. Company insiders own 12.60% of the company’s stock.

Institutional Trading of LGI Homes

A number of institutional investors and hedge funds have recently bought and sold shares of LGIH. Royal Bank of Canada increased its holdings in LGI Homes by 58.7% in the first quarter. Royal Bank of Canada now owns 4,721 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 1,746 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in LGI Homes by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider’s stock worth $831,000 after acquiring an additional 621 shares during the period. Goldman Sachs Group Inc. grew its holdings in LGI Homes by 5.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock worth $16,627,000 after acquiring an additional 12,524 shares during the period. Russell Investments Group Ltd. grew its holdings in LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 305 shares during the period. Finally, Invesco Ltd. grew its holdings in LGI Homes by 19.0% during the 2nd quarter. Invesco Ltd. now owns 85,400 shares of the financial services provider’s stock worth $4,400,000 after acquiring an additional 13,611 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.