LGI Homes (NASDAQ:LGIH) Sets New 52-Week Low - Time to Sell?

LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report)'s stock price reached a new 52-week low on Tuesday . The company traded as low as $50.49 and last traded at $52.37, with a volume of 243990 shares. The stock had previously closed at $51.68.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a "market outperform" rating and set a $140.00 target price on shares of LGI Homes in a research report on Wednesday, April 30th.

LGI Homes Price Performance

The company has a market capitalization of $1.17 billion, a PE ratio of 6.01 and a beta of 1.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The stock's 50 day simple moving average is $57.67 and its 200-day simple moving average is $78.28.

LGI Homes (NASDAQ:LGIH - Get Free Report) last released its quarterly 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). 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 for the quarter, compared to analyst estimates of $380.07 million. During the same period last year, the firm earned $0.72 EPS. The company's quarterly revenue was down 10.1% on a year-over-year basis. As a group, equities analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Michael Larry Snider sold 1,105 shares of the 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 $2,058,125.88. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On LGI Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in LGIH. Goldman Sachs Group Inc. boosted its stake in shares of LGI Homes by 5.3% in the first quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider's stock valued at $16,627,000 after buying an additional 12,524 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of LGI Homes during the 1st quarter worth $501,000. Petrus Trust Company LTA acquired a new position in shares of LGI Homes during the 1st quarter worth $484,000. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of LGI Homes in the 1st quarter valued at about $5,123,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of LGI Homes by 5.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider's stock valued at $831,000 after purchasing an additional 621 shares during the period. 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.