LGI Homes, Inc. (NASDAQ:LGIH) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 96.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,723 shares of the financial services provider's stock after selling 84,175 shares during the period. Bank of Montreal Can's holdings in LGI Homes were worth $243,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of LGI Homes by 112.9% in the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider's stock worth $31,000 after acquiring an additional 184 shares during the period. KBC Group NV lifted its position in LGI Homes by 51.6% in the fourth quarter. KBC Group NV now owns 1,110 shares of the financial services provider's stock valued at $99,000 after purchasing an additional 378 shares during the period. Sanctuary Advisors LLC purchased a new stake in LGI Homes in the 3rd quarter valued at approximately $334,000. EntryPoint Capital LLC increased its position in LGI Homes by 66.2% during the 4th quarter. EntryPoint Capital LLC now owns 3,049 shares of the financial services provider's stock worth $273,000 after purchasing an additional 1,215 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of LGI Homes by 5.7% during the 3rd quarter. Stifel Financial Corp now owns 3,883 shares of the financial services provider's stock worth $460,000 after buying an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 84.89% of the company's stock.

LGI Homes Trading Down 0.1 %

LGIH traded down $0.03 during midday trading on Wednesday, hitting $54.61. The company's stock had a trading volume of 532,061 shares, compared to its average volume of 239,137. LGI Homes, Inc. has a 52-week low of $52.48 and a 52-week high of $125.83. The firm has a 50-day moving average price of $65.91 and a two-hundred day moving average price of $86.34. The firm has a market cap of $1.28 billion, a P/E ratio of 6.55 and a beta of 1.99. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.29). LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The firm had revenue of $351.42 million during the quarter, compared to analysts' expectations of $380.07 million. During the same period last year, the business posted $0.72 earnings per share. The company's quarterly revenue was down 10.1% compared to the same quarter last year. On average, research analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Insider Buying and Selling at LGI Homes

In other news, COO Michael Larry Snider sold 1,105 shares of LGI Homes stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $75.94, for a total transaction of $83,913.70. Following the sale, the chief operating officer now directly owns 27,102 shares of the company's stock, valued at approximately $2,058,125.88. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LGIH has been the topic of a number of analyst reports. Seaport Res Ptn upgraded LGI Homes from a "strong sell" rating to a "hold" rating in a research note on Monday, January 27th. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 price target on shares of LGI Homes in a research note on Wednesday. Wedbush reiterated a "neutral" rating and issued a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of LGI Homes from $82.00 to $80.00 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $111.67.

LGI Homes Company Profile

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.