LGI Homes, Inc. (NASDAQ:LGIH) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC reduced its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 84.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,635 shares of the financial services provider’s stock after selling 59,137 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in LGI Homes were worth $951,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. raised its stake in LGI Homes by 131.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock valued at $13,222,000 after purchasing an additional 63,346 shares during the last quarter. Vanguard Group Inc. increased its holdings in LGI Homes by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 2,274,907 shares of the financial services provider’s stock valued at $203,377,000 after purchasing an additional 54,039 shares in the last quarter. River Road Asset Management LLC lifted its position in shares of 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 purchasing an additional 212,468 shares in the last quarter. Raymond James Financial Inc. purchased a new position in LGI Homes in the fourth quarter valued at about $15,507,000. Finally, Proficio Capital Partners LLC acquired a new position in LGI Homes during the 4th quarter worth $1,934,000. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Trading Up 2.8 %

Shares of LGIH opened at $55.63 on Friday. LGI Homes, Inc. has a 1-year low of $52.48 and a 1-year high of $125.83. The business’s 50-day moving average price is $63.51 and its 200 day moving average price is $83.89. The stock has a market capitalization of $1.30 billion, a P/E ratio of 6.67 and a beta of 1.93. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.29). The business had revenue of $351.42 million for the quarter, compared to analysts’ expectations of $380.07 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. Analysts expect that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LGIH. Seaport Res Ptn raised LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. JMP Securities restated a “market outperform” rating and set a $140.00 price objective on shares of LGI Homes in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their price target on LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th.

Insiders Place Their Bets

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were 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. The trade was a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 12.30% of the company’s stock.

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.