LGI Homes (NASDAQ:LGIH) COO Sells $331,569.48 in Stock

LGI Homes, Inc. (NASDAQ:LGIH) COO Michael Larry Snider sold 7,887 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $42.04, for a total transaction of $331,569.48. Following the transaction, the chief operating officer owned 30,517 shares in the company, valued at $1,282,934.68. The trade was a 20.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Michael Larry Snider also recently made the following trade(s):

• On Monday, March 9th, Michael Larry Snider sold 6,000 shares of LGI Homes stock. The shares were sold at an average price of $42.04, for a total transaction of $252,240.00.

LGI Homes Price Performance

Shares of NASDAQ:LGIH traded down $1.11 during trading on Tuesday, hitting $42.55. 374,149 shares of the stock were exchanged, compared to its average volume of 395,271. The company has a market cap of $984.18 million, a PE ratio of 13.59 and a beta of 1.88. The company has a current ratio of 20.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. The company has a fifty day moving average price of $51.82 and a two-hundred day moving average price of $51.25. LGI Homes, Inc. has a 12-month low of $39.70 and a 12-month high of $76.42.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $473.97 million during the quarter, compared to analysts’ expectations of $479.60 million. LGI Homes had a return on equity of 4.08% and a net margin of 4.25%.The business’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same quarter last year, the business posted $2.15 earnings per share. On average, analysts forecast that LGI Homes, Inc. will post 8.46 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on LGIH shares. Citigroup restated an “outperform” rating on shares of LGI Homes in a report on Wednesday, January 7th. Citizens Jmp boosted their price objective on shares of LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of LGI Homes in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LGIH. Caitong International Asset Management Co. Ltd increased its position in LGI Homes by 75.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 237 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of LGI Homes during the fourth quarter worth about $29,000. Russell Investments Group Ltd. raised its stake in shares of LGI Homes by 106.6% during the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 305 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of LGI Homes during the fourth quarter worth $32,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of LGI Homes by 7,240.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,101 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,086 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

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.