Ameriprise Financial Inc. Sells 24,801 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Ameriprise Financial Inc. lowered its position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 29.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,087 shares of the financial services provider's stock after selling 24,801 shares during the quarter. Ameriprise Financial Inc. owned 0.25% of LGI Homes worth $5,193,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of LGI Homes by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 2,274,907 shares of the financial services provider's stock valued at $203,377,000 after buying an additional 54,039 shares in the last quarter. Northern Trust Corp increased its holdings in shares of LGI Homes by 11.5% in the 4th quarter. Northern Trust Corp now owns 219,547 shares of the financial services provider's stock valued at $19,628,000 after purchasing an additional 22,615 shares during the period. River Road Asset Management LLC lifted its position in shares of LGI Homes by 30.6% in the fourth quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider's stock worth $81,168,000 after purchasing an additional 212,468 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of LGI Homes during the fourth quarter worth approximately $15,507,000. Finally, Proficio Capital Partners LLC purchased a new position in LGI Homes during the fourth quarter valued at approximately $1,934,000. Hedge funds and other institutional investors own 84.89% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LGIH shares. JMP Securities reiterated a "market outperform" rating and issued a $140.00 target price on shares of LGI Homes in a research report on Wednesday, April 30th. Seaport Res Ptn upgraded LGI Homes from a "strong sell" rating to a "hold" rating in a report on Monday, January 27th.

Insiders Place Their Bets

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $75.94, for a total transaction of $83,913.70. Following the transaction, the chief operating officer now owns 27,102 shares in the company, valued at $2,058,125.88. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.30% of the company's stock.

LGI Homes Stock Up 4.6%

NASDAQ:LGIH traded up $2.37 during mid-day trading on Tuesday, reaching $53.87. The stock had a trading volume of 335,203 shares, compared to its average volume of 247,977. The business's 50 day moving average is $59.29 and its 200 day moving average is $79.43. LGI Homes, Inc. has a fifty-two week low of $50.49 and a fifty-two week high of $125.83. The stock has a market cap of $1.26 billion, a P/E ratio of 6.46 and a beta of 1.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54.

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

About LGI Homes

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.