LGI Homes, Inc. (NASDAQ:LGIH) Shares Sold by Ameriprise Financial Inc.

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LGIH. River Road Asset Management LLC boosted its position in LGI Homes by 30.6% in the 4th quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider's stock valued at $81,168,000 after buying an additional 212,468 shares during the period. Khrom Capital Management LLC boosted its position in LGI Homes by 19.4% in the 4th quarter. Khrom Capital Management LLC now owns 1,095,801 shares of the financial services provider's stock valued at $97,965,000 after buying an additional 177,698 shares during the period. Raymond James Financial Inc. purchased a new position in LGI Homes in the 4th quarter valued at approximately $15,507,000. Vanguard Group Inc. boosted its position in LGI Homes by 2.4% in the 4th 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 during the period. Finally, Norges Bank purchased a new position in LGI Homes in the 4th quarter valued at approximately $3,485,000. Hedge funds and other 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 LGI Homes stock in a transaction on Monday, March 10th. The shares were sold at an average price of $75.94, for a total transaction of $83,913.70. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.30% of the company's stock.

LGI Homes Stock Down 0.4%

LGIH stock traded down $0.21 during midday trading on Thursday, hitting $50.70. The company's stock had a trading volume of 203,292 shares, compared to its average volume of 247,579. The firm has a market capitalization of $1.19 billion, a P/E ratio of 6.08 and a beta of 1.93. The firm has a 50-day simple moving average of $58.08 and a 200-day simple moving average of $78.66. LGI Homes, Inc. has a 52-week low of $49.88 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.

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

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued a "market outperform" rating and issued a $140.00 price target on shares of LGI Homes in a research report on Wednesday, April 30th.

LGI Homes 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.