Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 28.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,401 shares of the financial services provider’s stock after purchasing an additional 966 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in LGI Homes were worth $586,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LGIH. Ampfield Management L.P. increased its position in 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 worth $76,148,000 after purchasing an additional 65,609 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of LGI Homes in the fourth quarter valued at about $1,372,000. International Assets Investment Management LLC bought a new position in shares of LGI Homes during the fourth quarter valued at approximately $71,000. Trust Point Inc. purchased a new position in shares of LGI Homes in the 4th quarter valued at $469,000. Finally, AlphaMark Advisors LLC raised its holdings in LGI Homes by 33.4% in the fourth quarter. AlphaMark Advisors LLC now owns 2,596 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 650 shares in the last quarter. Institutional investors own 84.89% of the company’s stock.

LGI Homes Stock Down 0.5 %

Shares of NASDAQ:LGIH opened at $89.45 on Thursday. The company has a current ratio of 10.66, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67. LGI Homes, Inc. has a twelve month low of $84.15 and a twelve month high of $141.91. The company has a market capitalization of $2.11 billion, a PE ratio of 10.62 and a beta of 1.83. The firm has a 50 day simple moving average of $105.59 and a 200-day simple moving average of $113.50.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.30). The firm had revenue of $390.90 million during the quarter, compared to analysts’ expectations of $400.00 million. LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. LGI Homes’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. On average, equities analysts predict that LGI Homes, Inc. will post 9.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LGIH. Wedbush reissued an “underperform” rating and issued a $74.00 price target (down previously from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd. JMP Securities restated a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research report on Friday, April 5th. Finally, StockNews.com upgraded LGI Homes from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $110.50.

Insider Buying and Selling

In other LGI Homes news, CEO Eric Thomas Lipar sold 10,869 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 627,430 shares in the company, valued at approximately $70,240,788.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Charles Michael Merdian sold 6,361 shares of LGI Homes stock in a transaction on Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $712,113.95. Following the transaction, the chief financial officer now owns 9,458 shares in the company, valued at $1,058,823.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric Thomas Lipar sold 10,869 shares of the business’s stock in a transaction dated 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 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. In the last quarter, insiders sold 26,435 shares of company stock worth $2,944,291. 12.20% of the stock is owned by corporate insiders.

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.