Pinnacle Holdings LLC Has $766,000 Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Pinnacle Holdings LLC reduced its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,571 shares of the financial services provider’s stock after selling 247 shares during the quarter. Pinnacle Holdings LLC’s holdings in LGI Homes were worth $766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in LGI Homes by 131.4% during the third 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 period. River Road Asset Management LLC grew its stake in LGI Homes by 30.6% in the 4th quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider’s stock worth $81,168,000 after buying an additional 212,468 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of LGI Homes in the 3rd quarter worth about $334,000. Proficio Capital Partners LLC bought a new stake in shares of LGI Homes in the 4th quarter worth approximately $1,934,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of LGI Homes by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 376,793 shares of the financial services provider’s stock worth $33,685,000 after buying an additional 27,652 shares during the period. 84.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LGIH. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research report on Friday, January 10th. Wedbush reissued a “neutral” rating and issued a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. Seaport Res Ptn raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, LGI Homes has a consensus rating of “Hold” and a consensus price target of $118.33.

Insiders Place Their Bets

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $75.94, for a total transaction of $83,913.70. Following the transaction, the chief operating officer now directly owns 27,102 shares in the company, valued at $2,058,125.88. This represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.30% of the company’s stock.

LGI Homes Price Performance

Shares of LGIH stock opened at $56.71 on Wednesday. LGI Homes, Inc. has a fifty-two week low of $55.31 and a fifty-two week high of $125.83. The stock’s 50-day simple moving average is $75.17 and its 200-day simple moving average is $92.68. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 6.80 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, February 25th. The financial services provider reported $2.15 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.16). LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company had revenue of $557.40 million for the quarter, compared to analyst estimates of $588.56 million. During the same period last year, the business earned $2.19 earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. As a group, equities analysts forecast that LGI Homes, Inc. will post 8.46 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.