PNC Financial Services Group Inc. reduced its stake in LGI Homes, Inc. (NASDAQ:LGIH – Free Report) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,454 shares of the financial services provider’s stock after selling 203 shares during the period. PNC Financial Services Group Inc.’s holdings in LGI Homes were worth $726,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in LGI Homes in the fourth quarter worth about $38,000. First Horizon Advisors Inc. raised its stake 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 buying an additional 93 shares in the last quarter. International Assets Investment Management LLC bought a new position in LGI Homes in the fourth quarter worth about $71,000. Financial Management Professionals Inc. increased its stake in shares of LGI Homes by 27.3% during the fourth quarter. Financial Management Professionals Inc. now owns 537 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 115 shares in the last quarter. Finally, CWM LLC increased its stake in shares of LGI Homes by 164.2% during the fourth quarter. CWM LLC now owns 605 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 376 shares in the last quarter. 84.89% of the stock is owned by institutional investors.
LGI Homes Trading Down 3.6 %
NASDAQ:LGIH opened at $88.09 on Wednesday. The company’s 50 day moving average price is $95.71 and its 200-day moving average price is $110.13. 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 0.43, a current ratio of 12.36 and a debt-to-equity ratio of 0.74. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 11.01 and a beta of 1.91.
LGI Homes (NASDAQ:LGIH – Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.30). LGI Homes had a net margin of 8.37% and a return on equity of 10.43%. The firm had revenue of $390.90 million for the quarter, compared to analysts’ expectations of $400.00 million. During the same quarter in the previous year, the company earned $1.14 EPS. The company’s quarterly revenue was down 19.8% compared to the same quarter last year. On average, equities research analysts forecast that LGI Homes, Inc. will post 9.07 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have weighed in on LGIH. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a research note on Friday, April 5th. StockNews.com downgraded shares of LGI Homes from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, Wedbush reaffirmed an “underperform” rating and set a $74.00 target price on shares of LGI Homes in a research note on Thursday, June 6th. Three 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 currently has a consensus rating of “Hold” and an average target price of $110.50.
View Our Latest Stock Report on LGIH
LGI Homes 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.
See Also
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Source: defenseworld.net
