LGI Homes (NASDAQ:LGIH) Shares Down 5.9%

LGI Homes, Inc. (NASDAQ:LGIH - Get Free Report)'s share price fell 5.9% on Tuesday . The stock traded as low as $107.72 and last traded at $107.72. 23,900 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 178,570 shares. The stock had previously closed at $114.44.

Analysts Set New Price Targets

Several research firms have weighed in on LGIH. JMP Securities reissued a "market outperform" rating and issued a $160.00 price target on shares of LGI Homes in a research note on Tuesday, February 27th. StockNews.com downgraded shares of LGI Homes from a "hold" rating to a "sell" rating in a research note on Tuesday, March 26th. Finally, Wedbush reissued an "underperform" rating and issued a $74.00 price target (down from $88.00) on shares of LGI Homes in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $110.50.

LGI Homes Trading Down 7.9 %

The stock has a market capitalization of $2.48 billion, a P/E ratio of 12.51 and a beta of 1.83. The firm's 50 day moving average price is $115.75 and its 200 day moving average price is $114.10. The company has a debt-to-equity ratio of 0.67, a current ratio of 10.66 and a quick ratio of 0.42.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The financial services provider reported $2.19 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.35). The firm had revenue of $608.41 million for the quarter, compared to the consensus estimate of $663.95 million. LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. The business's revenue was up 24.6% on a year-over-year basis. During the same period last year, the company posted $1.45 earnings per share. As a group, equities research analysts expect that LGI Homes, Inc. will post 9.29 earnings per share for the current fiscal year.

Insider Activity at LGI Homes

In related news, CFO Charles Michael Merdian sold 6,361 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $712,113.95. Following the transaction, the chief financial officer now owns 9,458 shares in the company, valued at $1,058,823.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Eric Thomas Lipar sold 10,869 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $1,216,784.55. Following the transaction, the chief executive officer now owns 627,430 shares in the company, valued at $70,240,788.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles Michael Merdian sold 6,361 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $712,113.95. Following the transaction, the chief financial officer now owns 9,458 shares in the company, valued at approximately $1,058,823.10. The disclosure for this sale can be found here. Insiders have sold 26,435 shares of company stock worth $2,944,291 over the last 90 days. 12.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On LGI Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. grew its holdings in LGI Homes by 2.6% in the second quarter. Sei Investments Co. now owns 3,576 shares of the financial services provider's stock worth $482,000 after purchasing an additional 89 shares during the period. First National Bank of Omaha grew its holdings in LGI Homes by 0.6% in the second quarter. First National Bank of Omaha now owns 14,405 shares of the financial services provider's stock worth $1,943,000 after purchasing an additional 92 shares during the period. First Horizon Advisors Inc. grew its holdings in LGI Homes by 35.8% in the fourth quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider's stock worth $47,000 after purchasing an additional 93 shares during the period. The Manufacturers Life Insurance Company grew its holdings in LGI Homes by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 8,306 shares of the financial services provider's stock worth $1,120,000 after purchasing an additional 97 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in LGI Homes by 1.8% in the second quarter. PNC Financial Services Group Inc. now owns 5,855 shares of the financial services provider's stock worth $790,000 after purchasing an additional 102 shares during the period. Hedge funds and other 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.