Illinois Municipal Retirement Fund Decreases Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Illinois Municipal Retirement Fund cut its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 4.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,891 shares of the financial services provider’s stock after selling 509 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in LGI Homes were worth $1,583,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Ampfield Management L.P. raised its position in shares of LGI Homes by 13.0% in the fourth quarter. Ampfield Management L.P. now owns 571,857 shares of the financial services provider’s stock valued at $76,148,000 after purchasing an additional 65,609 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in LGI Homes by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,123 shares of the financial services provider’s stock valued at $28,068,000 after acquiring an additional 12,831 shares during the period. Liontrust Investment Partners LLP lifted its position in shares of LGI Homes by 61.4% during the third quarter. Liontrust Investment Partners LLP now owns 218,912 shares of the financial services provider’s stock worth $21,780,000 after acquiring an additional 83,237 shares in the last quarter. Tributary Capital Management LLC boosted its holdings in shares of LGI Homes by 24.5% in the fourth quarter. Tributary Capital Management LLC now owns 133,742 shares of the financial services provider’s stock worth $17,809,000 after acquiring an additional 26,280 shares during the period. Finally, Barclays PLC boosted its holdings in shares of LGI Homes by 213.0% in the third quarter. Barclays PLC now owns 125,904 shares of the financial services provider’s stock worth $12,525,000 after acquiring an additional 85,682 shares during the period. 84.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at LGI Homes

In other news, COO Michael Larry Snider sold 7,993 shares of LGI Homes stock in a transaction on Monday, March 11th. The shares were sold at an average price of $110.06, for a total transaction of $879,709.58. Following the completion of the sale, the chief operating officer now directly owns 19,016 shares of the company’s stock, valued at approximately $2,092,900.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Michael Larry Snider sold 7,993 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $110.06, for a total transaction of $879,709.58. Following 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 is accessible through this link. Also, CEO Eric Thomas Lipar sold 10,869 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $1,216,784.55. Following the completion of the sale, the chief executive officer now owns 627,430 shares of the company’s stock, valued at approximately $70,240,788.50. The disclosure for this sale can be found here. Insiders sold a total of 26,435 shares of company stock worth $2,944,291 over the last three months. 12.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JMP Securities restated a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a research note on Friday, April 5th. StockNews.com raised shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Wedbush reaffirmed an “underperform” rating and set a $74.00 price objective (down previously from $88.00) on shares of LGI Homes in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $110.50.

LGI Homes Price Performance

NASDAQ:LGIH opened at $95.85 on Friday. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 11.38 and a beta of 1.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.42 and a current ratio of 10.66. The stock has a fifty day moving average of $107.87 and a 200 day moving average of $113.45. LGI Homes, Inc. has a 52-week low of $84.15 and a 52-week high of $141.91.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $2.19 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $663.95 million. During the same quarter last year, the business posted $1.45 EPS. The business’s revenue was up 24.6% compared to the same quarter last year. On average, research analysts expect that LGI Homes, Inc. will post 9.24 EPS for the current fiscal year.

About LGI Homes

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.