Nisa Investment Advisors LLC Decreases Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Nisa Investment Advisors LLC decreased its position in LGI Homes, Inc. (NASDAQ:LGIH) by 35.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,150 shares of the financial services provider’s stock after selling 2,290 shares during the period. Nisa Investment Advisors LLC’s holdings in LGI Homes were worth $553,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its stake in shares of LGI Homes by 2.6% during the 2nd quarter. Sei Investments Co. now owns 3,576 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 89 shares during the last quarter. First National Bank of Omaha increased its stake in shares of LGI Homes by 0.6% during the 2nd quarter. First National Bank of Omaha now owns 14,405 shares of the financial services provider’s stock worth $1,943,000 after purchasing an additional 92 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of LGI Homes by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,306 shares of the financial services provider’s stock worth $1,120,000 after purchasing an additional 97 shares during the last quarter. Financial Management Professionals Inc. increased its stake in shares of LGI Homes by 27.3% during the 4th quarter. Financial Management Professionals Inc. now owns 537 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 115 shares during the last quarter. Finally, LPL Financial LLC increased its stake in shares of LGI Homes by 1.4% during the 3rd quarter. LPL Financial LLC now owns 8,440 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Stock Down 2.6 %

LGI Homes stock opened at $92.62 on Thursday. LGI Homes, Inc. has a 1-year low of $84.15 and a 1-year high of $141.91. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 11.00 and a beta of 1.83. The company has a current ratio of 10.66, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67. The firm has a 50 day simple moving average of $111.50 and a 200 day simple moving average of $113.67.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, February 20th. The financial services provider reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.35). LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. 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 posted $1.45 earnings per share. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. On average, analysts predict that LGI Homes, Inc. will post 9.24 earnings per share for the current year.

Insider Buying and Selling at LGI Homes

In other LGI Homes news, CFO Charles Michael Merdian sold 6,361 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $712,113.95. Following the completion of the transaction, the chief financial officer now directly owns 9,458 shares of the company’s stock, valued at approximately $1,058,823.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other LGI Homes news, COO Michael Larry Snider sold 7,993 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $110.06, for a total value of $879,709.58. Following the completion of the transaction, the chief operating officer now directly owns 19,016 shares of the company’s stock, valued at approximately $2,092,900.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Charles Michael Merdian sold 6,361 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $712,113.95. Following the completion of the transaction, the chief financial officer now directly owns 9,458 shares of the company’s stock, valued at $1,058,823.10. The disclosure for this sale can be found here. Insiders sold a total of 26,435 shares of company stock valued at $2,944,291 in the last three months. Company insiders own 12.20% of the company’s stock.

Wall Street Analysts Forecast Growth

LGIH has been the subject of several research analyst reports. Wedbush restated an “underperform” rating and set a $74.00 price target (down previously from $88.00) on shares of LGI Homes in a research note on Tuesday, April 2nd. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a research note on Friday, April 5th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $110.50.

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.