Rafferty Asset Management LLC Purchases 4,767 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in LGI Homes by 2.4% during 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 purchasing an additional 54,039 shares during the last quarter. Northern Trust Corp raised its position in LGI Homes by 11.5% during 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 last quarter. River Road Asset Management LLC raised its position in LGI Homes by 30.6% during 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 purchasing an additional 212,468 shares during the last quarter. Raymond James Financial Inc. bought a new position in LGI Homes during the 4th quarter valued at approximately $15,507,000. Finally, Proficio Capital Partners LLC bought a new position in LGI Homes during the 4th quarter valued at approximately $1,934,000. Institutional investors own 84.89% of the company's stock.

Wall Street Analyst Weigh In

LGIH has been the subject of a number of recent analyst reports. Seaport Res Ptn raised LGI Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, January 27th. JMP Securities reiterated a "market outperform" rating and set a $140.00 target price on shares of LGI Homes in a report on Wednesday, April 30th.

LGI Homes Stock Up 2.8%

Shares of LGIH stock traded up $1.43 during midday trading on Tuesday, reaching $52.93. 43,748 shares of the stock were exchanged, compared to its average volume of 246,842. LGI Homes, Inc. has a 1 year low of $50.49 and a 1 year high of $125.83. The company's 50 day moving average is $59.29 and its two-hundred day moving average is $79.43. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.24 billion, a PE ratio of 6.35 and a beta of 1.93.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its 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 return on equity of 10.32% and a net margin of 8.75%. The firm had revenue of $351.42 million for the quarter, compared to analysts' expectations 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 research analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current year.

Insider Buying and Selling at LGI Homes

In other news, COO Michael Larry Snider sold 1,105 shares of the firm's 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 completion of the transaction, the chief operating officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.30% of the stock is owned by company insiders.

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.