Comerica Bank Sells 8,051 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Comerica Bank lessened its holdings in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 34.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,227 shares of the financial services provider's stock after selling 8,051 shares during the quarter. Comerica Bank owned 0.06% of LGI Homes worth $1,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. increased its holdings in LGI Homes by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider's stock worth $195,000 after acquiring an additional 141 shares during the last quarter. Mariner LLC grew its stake in LGI Homes by 3.2% in the 4th quarter. Mariner LLC now owns 4,581 shares of the financial services provider's stock valued at $410,000 after buying an additional 143 shares in the last quarter. Blue Trust Inc. grew its position in shares of LGI Homes by 112.9% in the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 184 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of LGI Homes by 10.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider's stock valued at $198,000 after purchasing an additional 212 shares during the period. Finally, KBC Group NV lifted its holdings in LGI Homes by 51.6% during the 4th quarter. KBC Group NV now owns 1,110 shares of the financial services provider's stock worth $99,000 after purchasing an additional 378 shares in the last quarter. Institutional investors own 84.89% of the company's stock.

Insider Transactions at LGI Homes

In other news, COO Michael Larry Snider sold 1,105 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $75.94, for a total value of $83,913.70. Following the transaction, the chief operating officer now owns 27,102 shares of the company's stock, valued at $2,058,125.88. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 price objective on shares of LGI Homes in a research note on Wednesday, April 30th. Seaport Res Ptn upgraded LGI Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. cut their price target on shares of LGI Homes from $82.00 to $80.00 and set an "underweight" rating for the company in a research note on Tuesday, January 14th.

LGI Homes Trading Down 3.9%

Shares of LGIH traded down $2.30 during trading hours on Wednesday, hitting $57.28. The company had a trading volume of 396,990 shares, compared to its average volume of 242,725. LGI Homes, Inc. has a 52-week low of $52.48 and a 52-week high of $125.83. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. The stock's 50 day moving average price is $62.62 and its 200 day moving average price is $82.80. The firm has a market cap of $1.34 billion, a P/E ratio of 6.87 and a beta of 1.93.

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

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.