LGI Homes (NASDAQ:LGIH) Reaches New 52-Week Low - Here's Why

LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report)'s share price hit a new 52-week low on Monday . The company traded as low as $47.79 and last traded at $48.17, with a volume of 106357 shares trading hands. The stock had previously closed at $50.10.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a "market outperform" rating and issued a $140.00 price objective on shares of LGI Homes in a report on Wednesday, April 30th.

LGI Homes Trading Up 3.1%

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 company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 6.15 and a beta of 1.93. The company has a fifty day moving average of $56.57 and a 200-day moving average of $77.15.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $380.07 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company's quarterly revenue was down 10.1% on a year-over-year basis. As a group, equities research analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Insider Activity at LGI Homes

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the business'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 transaction, the chief operating officer now owns 27,102 shares of the company's stock, valued at approximately $2,058,125.88. The trade was a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On LGI Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in LGI Homes by 112.9% during the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider's stock worth $31,000 after buying an additional 184 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of LGI Homes by 801.5% in the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 545 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of LGI Homes by 12,620.0% in 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 during the last quarter. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 609 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of LGI Homes in the 1st quarter valued at $71,000. Institutional investors and hedge funds 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.