LGI Homes (NASDAQ:LGIH) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

LGI Homes, Inc. (NASDAQ:LGIH)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $46.96 and traded as low as $40.16. LGI Homes shares last traded at $41.24, with a volume of 558,173 shares.

Wall Street Analysts Forecast Growth

LGIH has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Wall Street Zen raised shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Zacks Research raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, LGI Homes has a consensus rating of “Hold” and an average price target of $72.75.

LGI Homes Trading Up 8.5%

The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 18.56. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 14.43 and a beta of 1.90. The company has a 50 day moving average price of $41.81 and a two-hundred day moving average price of $46.96.

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

Insider Activity at LGI Homes

In related news, COO Michael Larry Snider sold 7,887 shares of the firm’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 $331,569.48. Following the transaction, the chief operating officer directly owned 30,517 shares of the company’s stock, valued at approximately $1,282,934.68. This trade represents a 20.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Scott James Garber sold 1,353 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $42.04, for a total transaction of $56,880.12. Following the completion of the transaction, the general counsel directly owned 21,716 shares in the company, valued at $912,940.64. This represents a 5.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 22,451 shares of company stock valued at $943,840. 12.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LGI Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in LGIH. Caitong International Asset Management Co. Ltd boosted its stake in LGI Homes by 75.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 237 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of LGI Homes in the fourth quarter valued at approximately $29,000. Russell Investments Group Ltd. grew its position in shares of LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 305 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of LGI Homes in the fourth quarter valued at approximately $32,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of LGI Homes by 1,759.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 827 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

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.