LGI Homes, Inc. (NASDAQ:LGIH) Holdings Decreased by abrdn plc

abrdn plc lowered its position in LGI Homes, Inc. (NASDAQ:LGIH) by 23.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,466 shares of the financial services provider’s stock after selling 29,834 shares during the quarter. abrdn plc owned approximately 0.41% of LGI Homes worth $12,845,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. raised its holdings in LGI Homes by 27.3% in the 4th quarter. Financial Management Professionals Inc. now owns 537 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 115 shares in the last quarter. Gotham Asset Management LLC lifted its stake in shares of LGI Homes by 3.8% in the 3rd quarter. Gotham Asset Management LLC now owns 4,165 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 153 shares during the period. Brookstone Capital Management lifted its stake in shares of LGI Homes by 4.0% in the 4th quarter. Brookstone Capital Management now owns 5,067 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 195 shares during the period. RiverPark Advisors LLC raised its stake in LGI Homes by 50.5% during the 4th quarter. RiverPark Advisors LLC now owns 739 shares of the financial services provider’s stock worth $98,000 after buying an additional 248 shares during the period. Finally, Teza Capital Management LLC raised its stake in LGI Homes by 7.7% during the 3rd quarter. Teza Capital Management LLC now owns 5,049 shares of the financial services provider’s stock worth $502,000 after buying an additional 363 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at LGI Homes

In other LGI Homes news, CFO Charles Michael Merdian sold 6,361 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 9,458 shares in the company, valued at approximately $1,058,823.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Charles Michael Merdian sold 6,361 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 9,458 shares in the company, valued at approximately $1,058,823.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eric Thomas Lipar sold 10,869 shares of LGI Homes stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $1,216,784.55. Following the completion of the transaction, the chief executive officer now owns 627,430 shares of the company’s stock, valued at $70,240,788.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,435 shares of company stock valued at $2,944,291. 12.40% of the stock is owned by corporate insiders.

LGI Homes Stock Down 1.0 %

NASDAQ LGIH opened at $94.88 on Friday. The business has a fifty day moving average price of $108.58 and a two-hundred day moving average price of $113.58. The company has a debt-to-equity ratio of 0.67, a current ratio of 10.66 and a quick ratio of 0.42. LGI Homes, Inc. has a fifty-two week low of $84.15 and a fifty-two week high of $141.91. The stock has a market capitalization of $2.24 billion, a PE ratio of 11.27 and a beta of 1.83.

LGI Homes (NASDAQ:LGIH) last posted 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). The company had revenue of $608.41 million during the quarter, compared to analyst estimates of $663.95 million. LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.45 earnings per share. Equities analysts expect that LGI Homes, Inc. will post 9.24 earnings per share 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.