LGI Homes, Inc. (NASDAQ:LGIH) Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its holdings in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 51.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,991 shares of the financial services provider's stock after purchasing an additional 4,767 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.06% of LGI Homes worth $1,251,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. lifted its position in shares of 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 buying an additional 141 shares during the last quarter. Mariner LLC raised its stake in LGI Homes by 3.2% during the fourth quarter. Mariner LLC now owns 4,581 shares of the financial services provider's stock worth $410,000 after acquiring an additional 143 shares during the period. Blue Trust Inc. lifted its holdings in LGI Homes by 112.9% in the fourth 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 last quarter. Tower Research Capital LLC TRC lifted its holdings in LGI Homes by 10.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider's stock worth $198,000 after acquiring an additional 212 shares during the last quarter. Finally, KBC Group NV boosted its stake 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 acquiring an additional 378 shares during the period. Institutional investors and hedge funds own 84.89% of the company's stock.

Analysts Set New Price Targets

LGIH has been the topic of a number of research reports. JMP Securities reiterated a "market outperform" rating and set a $140.00 price target 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 research note on Monday, January 27th.

LGI Homes Trading Down 5.3%

Shares of NASDAQ:LGIH opened at $52.56 on Thursday. 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 company's 50-day moving average price is $60.57 and its 200 day moving average price is $81.01. The company has a market cap of $1.23 billion, a PE ratio of 6.30 and a beta of 1.93. LGI Homes, Inc. has a fifty-two week low of $51.57 and a fifty-two week high of $125.83.

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 firm had revenue of $351.42 million during the quarter, compared to analyst estimates of $380.07 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. LGI Homes's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. Sell-side analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Insider Buying and Selling

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

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.

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