Prospera Financial Services Inc Takes $557,000 Position in LGI Homes, Inc. $LGIH

Prospera Financial Services Inc acquired a new stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 12,960 shares of the financial services provider’s stock, valued at approximately $557,000. Prospera Financial Services Inc owned about 0.06% of LGI Homes at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wasatch Advisors LP lifted its holdings in shares of LGI Homes by 3.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,467,855 shares of the financial services provider’s stock valued at $75,624,000 after purchasing an additional 48,795 shares during the last quarter. Voss Capital LP raised its stake in LGI Homes by 33.3% in the 3rd quarter. Voss Capital LP now owns 300,000 shares of the financial services provider’s stock worth $15,513,000 after acquiring an additional 75,000 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in LGI Homes by 5.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock worth $16,627,000 after acquiring an additional 12,524 shares during the last quarter. Voloridge Investment Management LLC raised its stake in LGI Homes by 118.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 155,012 shares of the financial services provider’s stock worth $8,016,000 after acquiring an additional 84,079 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in LGI Homes by 1.9% in the 2nd quarter. Raymond James Financial Inc. now owns 138,506 shares of the financial services provider’s stock worth $7,136,000 after acquiring an additional 2,574 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LGIH. Wall Street Zen lowered LGI Homes from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Zacks Research upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their target price on LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of LGI Homes in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.75.

LGI Homes Stock Performance

Shares of LGIH stock opened at $47.81 on Friday. The business has a fifty day moving average of $42.70 and a 200 day moving average of $47.08. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 15.68 and a beta of 1.90. LGI Homes, Inc. has a 1 year low of $33.55 and a 1 year high of $69.50. The company has a debt-to-equity ratio of 0.81, a current ratio of 18.56 and a quick ratio of 0.70.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.22. The business had revenue of $319.74 million during the quarter, compared to analysts’ expectations of $328.22 million. LGI Homes had a return on equity of 3.80% and a net margin of 4.22%.The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, research analysts expect that LGI Homes, Inc. will post 2.76 earnings per share for the current year.

Insider Activity

In other news, General Counsel Scott James Garber sold 1,353 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $56,880.12. Following the completion of the transaction, the general counsel owned 21,716 shares of the company’s stock, valued at $912,940.64. The trade was a 5.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Charles Michael Merdian sold 7,211 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $42.04, for a total value of $303,150.44. Following the completion of the transaction, the chief financial officer directly owned 20,540 shares of the company’s stock, valued at approximately $863,501.60. This trade represents a 25.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,451 shares of company stock valued at $943,840 in the last quarter. 12.60% of the stock is currently owned by company insiders.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.