Royce & Associates LP Has $3.77 Million Stock Position in LGI Homes, Inc. $LGIH

Key Points

• Royce & Associates LP increased its stake in LGI Homes by 53.2% in the fourth quarter, ending with 87,729 shares valued at about $3.77 million.
• Analyst sentiment on LGI Homes is mixed: recent moves included one upgrade and one downgrade, while the stock’s overall consensus rating is Hold with a price target of $72.75.
• LGI Homes reported quarterly earnings of $0.24 per share, beating estimates, though revenue of $319.74 million missed forecasts and fell 9% year over year.

Royce & Associates LP boosted its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 53.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 87,729 shares of the financial services provider's stock after buying an additional 30,461 shares during the period. Royce & Associates LP owned approximately 0.38% of LGI Homes worth $3,769,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of LGI Homes by 75.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 237 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 305 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of LGI Homes by 294.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,983 shares of the financial services provider's stock valued at $102,000 after purchasing an additional 1,480 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of LGI Homes in the third quarter valued at approximately $108,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of LGI Homes by 42.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,544 shares of the financial services provider's stock valued at $109,000 after purchasing an additional 755 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on LGIH shares. Zacks Research upgraded shares of LGI Homes from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Wall Street Zen downgraded shares of LGI Homes from a "hold" rating to a "sell" rating in a report on Saturday, May 23rd. JPMorgan Chase & Co. lifted their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the company an "underweight" rating in a report on Thursday, April 30th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of LGI Homes in a report on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, LGI Homes presently has an average rating of "Hold" and a consensus price target of $72.75.

Insider Buying and Selling

In related news, COO Michael Larry Snider sold 7,887 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $42.04, for a total transaction of $331,569.48. Following the transaction, the chief operating officer directly owned 30,517 shares in the company, valued at approximately $1,282,934.68. The trade was a 20.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Scott James Garber sold 1,353 shares of the business's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $42.04, for a total transaction of $56,880.12. Following the transaction, the general counsel owned 21,716 shares in the company, valued at approximately $912,940.64. The trade was a 5.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 22,451 shares of company stock worth $943,840. Insiders own 12.60% of the company's stock.

LGI Homes Price Performance

Shares of LGIH opened at $47.81 on Friday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 15.68 and a beta of 1.90. LGI Homes, Inc. has a 1-year low of $33.55 and a 1-year high of $69.50. The company's fifty day simple moving average is $42.70 and its 200 day simple moving average is $47.08. The company has a current ratio of 18.56, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.22. The business had revenue of $319.74 million for the quarter, compared to the consensus estimate of $328.22 million. LGI Homes had a net margin of 4.22% and a return on equity of 3.80%. The firm's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 earnings per share. On average, research analysts forecast that LGI Homes, Inc. will post 2.76 earnings per share for the current fiscal year.

LGI Homes Profile

LGI Homes, Inc NASDAQ: LGIH is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.

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