LGI Homes, Inc. (LGIH) Short Interest Update
LGI Homes, Inc. (NASDAQ:LGIH) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 5,154,068 shares, a decrease of 19.1% from the August 15th total of 6,371,959 shares. Based on an average daily trading volume, of 433,334 shares, the short-interest ratio is presently 11.9 days. Approximately 30.0% of the shares of the company are short sold.
In other news, Director Bryan Christopher Sansbury sold 25,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $46.30, for a total transaction of $1,157,500.00. Following the transaction, the director now owns 159,551 shares of the company’s stock, valued at approximately $7,387,211.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $42.59, for a total value of $425,900.00. Following the transaction, the chief executive officer now directly owns 524,175 shares in the company, valued at approximately $22,324,613.25. The disclosure for this sale can be found here. 13.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LGIH. FMR LLC purchased a new position in LGI Homes during the second quarter valued at $21,233,000. Capital Growth Management LP purchased a new position in LGI Homes during the second quarter valued at $8,840,000. Neumeier Poma Investment Counsel LLC lifted its position in LGI Homes by 30.6% during the first quarter. Neumeier Poma Investment Counsel LLC now owns 787,550 shares of the financial services provider’s stock valued at $26,706,000 after purchasing an additional 184,750 shares in the last quarter. Pictet Asset Management Ltd. lifted its position in LGI Homes by 467.7% during the second quarter. Pictet Asset Management Ltd. now owns 215,227 shares of the financial services provider’s stock valued at $6,973,000 after purchasing an additional 177,316 shares in the last quarter. Finally, Kennedy Capital Management Inc. purchased a new position in LGI Homes during the second quarter valued at $6,402,000. Institutional investors own 93.49% of the company’s stock.
Shares of LGI Homes (LGIH) opened at 45.06 on Friday. LGI Homes has a one year low of $26.82 and a one year high of $49.95. The stock has a market cap of $973.97 million, a PE ratio of 11.96 and a beta of 0.08. The company’s 50-day moving average price is $44.93 and its 200-day moving average price is $37.12.
LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.12. The company had revenue of $324.20 million for the quarter, compared to the consensus estimate of $317.63 million. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. LGI Homes’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. Equities research analysts anticipate that LGI Homes will post $4.30 earnings per share for the current year.
A number of brokerages have recently commented on LGIH. Zacks Investment Research raised LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, July 18th. Wedbush reaffirmed a “neutral” rating and set a $35.00 price target on shares of LGI Homes in a research report on Tuesday, July 4th. J P Morgan Chase & Co cut LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research report on Wednesday, August 9th. BidaskClub raised LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, Deutsche Bank AG upped their price target on LGI Homes from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. LGI Homes has a consensus rating of “Buy” and an average price target of $47.00.
LGI Homes Company Profile
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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