LGI Homes (NASDAQ:LGIH) Reaches New 12-Month Low - Here's What Happened

LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $47.67 and last traded at $47.79, with a volume of 381142 shares trading hands. The stock had previously closed at $50.50.

Analyst Ratings Changes

Several research firms have commented on LGIH. Wedbush decreased their price objective on shares of LGI Homes from $100.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, June 5th. JMP Securities reissued a "market outperform" rating and issued a $140.00 price target on shares of LGI Homes in a report on Wednesday, April 30th.

LGI Homes Stock Performance

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 stock has a market cap of $1.12 billion, a price-to-earnings ratio of 5.73 and a beta of 1.77. The company has a 50 day simple moving average of $54.72 and a 200 day simple moving average of $73.66.

LGI Homes (NASDAQ:LGIH - Get Free Report) last announced its 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 company had revenue of $351.42 million for 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 firm's quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. As a group, equities research analysts forecast that LGI Homes, Inc. will post 8.46 EPS for the current year.

Hedge Funds Weigh In On LGI Homes

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its position in shares of LGI Homes by 12,620.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 636 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 631 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of LGI Homes by 801.5% during the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider's stock worth $55,000 after buying an additional 545 shares in the last quarter. GAMMA Investing LLC increased its position in LGI Homes by 219.1% in the 1st quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider's stock valued at $59,000 after buying an additional 609 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of LGI Homes in the first quarter valued at $71,000. Finally, CWM LLC lifted its holdings in shares of LGI Homes by 50.3% in the first quarter. CWM LLC now owns 1,178 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 394 shares in the last quarter. Institutional investors own 84.89% of the company's stock.

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.

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