Bank of America Corp DE Sells 37,573 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Bank of America Corp DE lowered its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 62.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,428 shares of the financial services provider's stock after selling 37,573 shares during the period. Bank of America Corp DE owned 0.10% of LGI Homes worth $2,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of LGI Homes by 112.9% during the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider's stock worth $31,000 after purchasing an additional 184 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of LGI Homes by 801.5% during the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider's stock worth $55,000 after purchasing an additional 545 shares in the last quarter. KBC Group NV raised its stake in shares of 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. Summit Investment Advisors Inc. raised its stake in shares of LGI Homes by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider's stock worth $195,000 after purchasing an additional 141 shares in the last quarter. Finally, 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 worth $198,000 after purchasing an additional 212 shares in the last quarter. Institutional investors own 84.89% of the company's stock.

LGI Homes Stock Performance

LGIH traded up $1.52 during trading hours on Wednesday, reaching $51.29. The company's stock had a trading volume of 344,809 shares, compared to its average volume of 248,967. LGI Homes, Inc. has a 52 week low of $47.79 and a 52 week high of $125.83. The company's 50-day moving average is $56.86 and its 200-day moving average is $77.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The firm has a market cap of $1.20 billion, a PE ratio of 6.15 and a beta of 1.93.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share 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 during the quarter, compared to the consensus estimate of $380.07 million. During the same quarter last year, the company posted $0.72 EPS. The firm's revenue was down 10.1% on a year-over-year basis. On average, equities analysts forecast that LGI Homes, Inc. will post 8.46 EPS for the current year.

Analyst Ratings Changes

Separately, JMP Securities reiterated a "market outperform" rating and set a $140.00 price objective on shares of LGI Homes in a research note on Wednesday, April 30th.

Insider Activity at LGI Homes

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the stock in a transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.30% of the stock is owned by company insiders.

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.