First Trust Advisors LP Has $2.52 Million Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

First Trust Advisors LP reduced its stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 17.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,163 shares of the financial services provider's stock after selling 6,099 shares during the quarter. First Trust Advisors LP owned 0.12% of LGI Homes worth $2,518,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Marshall Wace LLP raised its stake in shares of LGI Homes by 1.9% during the 4th quarter. Marshall Wace LLP now owns 152,355 shares of the financial services provider's stock worth $13,621,000 after buying an additional 2,793 shares in the last quarter. Wasatch Advisors LP raised its holdings in LGI Homes by 2.7% in the 4th quarter. Wasatch Advisors LP now owns 1,395,710 shares of the financial services provider's stock valued at $124,776,000 after acquiring an additional 36,608 shares during the last quarter. Mariner LLC lifted its position 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 buying an additional 143 shares during the period. Summit Investment Advisors Inc. increased its position in LGI Homes by 6.9% during the fourth 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 during the last quarter. Finally, Sterling Capital Management LLC raised its stake in LGI Homes by 801.5% during the fourth 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 during the period. Hedge funds and other institutional investors own 84.89% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. JMP Securities restated a "market outperform" rating and issued a $140.00 price objective on shares of LGI Homes in a report on Wednesday, April 30th. Seaport Res Ptn upgraded shares of LGI Homes from a "strong sell" rating to a "hold" rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lowered their target price on LGI Homes from $82.00 to $80.00 and set an "underweight" rating for the company in a report on Tuesday, January 14th.

LGI Homes Stock Performance

Shares of NASDAQ LGIH traded up $1.52 during trading hours on Thursday, hitting $55.63. 321,004 shares of the company's stock were exchanged, compared to its average volume of 239,787. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 6.67 and a beta of 1.93. The company's 50-day moving average price is $63.81 and its 200-day moving average price is $84.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. LGI Homes, Inc. has a 1-year low of $52.48 and a 1-year high of $125.83.

LGI Homes (NASDAQ:LGIH - Get Free Report) last announced 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 company had revenue of $351.42 million during the quarter, compared to analyst estimates of $380.07 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company's revenue was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 EPS. On average, sell-side analysts expect that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Insider Activity at LGI Homes

In other news, COO Michael Larry Snider sold 1,105 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer now directly owns 27,102 shares of the company's stock, valued at approximately $2,058,125.88. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.30% of the stock is currently owned by corporate 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.