abrdn plc Has $12.85 Million Stake in LGI Homes, Inc. (NASDAQ:LGIH)

abrdn plc decreased its holdings in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,466 shares of the financial services provider's stock after selling 29,834 shares during the quarter. abrdn plc owned 0.41% of LGI Homes worth $12,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LGIH. Ampfield Management L.P. increased its stake in LGI Homes by 13.0% in the 4th quarter. Ampfield Management L.P. now owns 571,857 shares of the financial services provider's stock valued at $76,148,000 after buying an additional 65,609 shares during the period. Charles Schwab Investment Management Inc. increased its stake in LGI Homes by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,123 shares of the financial services provider's stock valued at $28,068,000 after buying an additional 12,831 shares during the period. Liontrust Investment Partners LLP increased its stake in LGI Homes by 61.4% in the 3rd quarter. Liontrust Investment Partners LLP now owns 218,912 shares of the financial services provider's stock valued at $21,780,000 after buying an additional 83,237 shares during the period. Tributary Capital Management LLC increased its stake in LGI Homes by 24.5% in the 4th quarter. Tributary Capital Management LLC now owns 133,742 shares of the financial services provider's stock valued at $17,809,000 after buying an additional 26,280 shares during the period. Finally, Barclays PLC increased its stake in LGI Homes by 213.0% in the 3rd quarter. Barclays PLC now owns 125,904 shares of the financial services provider's stock valued at $12,525,000 after buying an additional 85,682 shares during the period. Hedge funds and other institutional investors own 84.89% of the company's stock.

LGI Homes Price Performance

Shares of LGI Homes stock traded up $0.97 on Friday, hitting $95.85. The company's stock had a trading volume of 253,969 shares, compared to its average volume of 198,501. LGI Homes, Inc. has a 52-week low of $84.15 and a 52-week high of $141.91. The company has a quick ratio of 0.42, a current ratio of 10.66 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average price of $107.87 and a 200-day moving average price of $113.45. The company has a market capitalization of $2.26 billion, a P/E ratio of 11.38 and a beta of 1.83.

LGI Homes (NASDAQ:LGIH - Get Free Report) last released 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). LGI Homes had a return on equity of 11.28% and a net margin of 8.45%. The business had revenue of $608.41 million during the quarter, compared to analysts' expectations of $663.95 million. During the same quarter in the prior year, the firm earned $1.45 earnings per share. LGI Homes's quarterly revenue was up 24.6% on a year-over-year basis. On average, equities research analysts expect that LGI Homes, Inc. will post 9.24 earnings per share for the current fiscal year.

Insider Buying and Selling

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 value of $1,216,784.55. Following the sale, the chief executive officer now directly owns 627,430 shares in the company, valued at approximately $70,240,788.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other LGI Homes news, CEO Eric Thomas Lipar sold 10,869 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $1,216,784.55. Following the transaction, the chief executive officer now directly owns 627,430 shares in the company, valued at approximately $70,240,788.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Michael Larry Snider sold 7,993 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $110.06, for a total transaction of $879,709.58. Following the completion of the transaction, the chief operating officer now owns 19,016 shares in the company, valued at $2,092,900.96. The disclosure for this sale can be found here. Insiders have sold 26,435 shares of company stock worth $2,944,291 in the last three months. Corporate insiders own 12.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. StockNews.com raised shares of LGI Homes from a "sell" rating to a "hold" rating in a research note on Thursday. JMP Securities reaffirmed a "market outperform" rating and set a $160.00 price target on shares of LGI Homes in a research note on Friday, April 5th. Finally, Wedbush reaffirmed an "underperform" rating and set a $74.00 price target (down from $88.00) on shares of LGI Homes in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $110.50.

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.