Northern Trust Corp Purchases 22,615 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Northern Trust Corp lifted its position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 11.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,547 shares of the financial services provider's stock after purchasing an additional 22,615 shares during the period. Northern Trust Corp owned 0.93% of LGI Homes worth $19,628,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. River Road Asset Management LLC grew its stake in LGI Homes by 30.6% in 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 buying an additional 212,468 shares during the last quarter. Khrom Capital Management LLC grew its stake in LGI Homes by 19.4% in the 4th quarter. Khrom Capital Management LLC now owns 1,095,801 shares of the financial services provider's stock valued at $97,965,000 after buying an additional 177,698 shares during the last quarter. Raymond James Financial Inc. acquired a new position in LGI Homes in the 4th quarter valued at about $15,507,000. Vanguard Group Inc. grew its stake in LGI Homes by 2.4% in 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 buying an additional 54,039 shares during the last quarter. Finally, Norges Bank acquired a new position in LGI Homes in the 4th quarter valued at about $3,485,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LGI Homes

In other news, COO Michael Larry Snider sold 1,105 shares of the company's stock in a transaction that occurred on 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 sale, the chief operating officer now owns 27,102 shares of the company's stock, valued at approximately $2,058,125.88. This represents a 3.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 12.30% of the company's stock.

LGI Homes Stock Performance

NASDAQ LGIH traded up $0.98 during trading on Friday, reaching $58.19. The company's stock had a trading volume of 282,356 shares, compared to its average volume of 243,869. 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 capitalization of $1.36 billion, a price-to-earnings ratio of 6.98 and a beta of 1.93. LGI Homes, Inc. has a 12 month low of $52.48 and a 12 month high of $125.83. The firm has a 50 day moving average price of $61.57 and a 200 day moving average price of $81.99.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.29). The business had revenue of $351.42 million during the quarter, compared to the consensus estimate of $380.07 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business's revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. As a group, equities analysts anticipate that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on LGIH shares. 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. JMP Securities reiterated a "market outperform" rating and issued a $140.00 price target on shares of LGI Homes in a research note on Wednesday, April 30th.

LGI Homes 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.