Natixis Buys 6,960 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Natixis boosted its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 163.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,208 shares of the financial services provider’s stock after buying an additional 6,960 shares during the quarter. Natixis’ holdings in LGI Homes were worth $1,002,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LGIH. River Road Asset Management LLC grew its stake in LGI Homes by 30.6% during the fourth quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider’s stock worth $81,168,000 after buying an additional 212,468 shares during the last quarter. Raymond James Financial Inc. bought a new stake in LGI Homes during the 4th quarter worth approximately $15,507,000. JPMorgan Chase & Co. boosted its stake in LGI Homes by 131.4% in the third quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after purchasing an additional 63,346 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of LGI Homes by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 2,274,907 shares of the financial services provider’s stock valued at $203,377,000 after buying an additional 54,039 shares during the last quarter. Finally, Norges Bank bought a new position in shares of LGI Homes in the fourth quarter valued at about $3,485,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LGI Homes

In other news, COO Michael Larry Snider sold 1,105 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $75.94, for a total value of $83,913.70. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 12.30% of the company’s stock.

LGI Homes Trading Down 1.3 %

LGIH opened at $59.83 on Thursday. LGI Homes, Inc. has a fifty-two week low of $53.13 and a fifty-two week high of $125.83. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 7.17 and a beta of 1.99. 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 firm has a 50 day simple moving average of $68.31 and a 200 day simple moving average of $88.17.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.16). LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company had revenue of $557.40 million during the quarter, compared to analyst estimates of $588.56 million. During the same period last year, the company earned $2.19 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LGIH. JPMorgan Chase & Co. lowered their price objective on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. JMP Securities restated a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research report on Friday, January 10th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. Finally, Seaport Res Ptn raised LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $118.33.

LGI Homes Company Profile

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.