Altshuler Shaham Ltd Has $1.02 Million Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Altshuler Shaham Ltd decreased its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 99.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,630 shares of the financial services provider’s stock after selling 872,700 shares during the quarter. Altshuler Shaham Ltd’s holdings in LGI Homes were worth $1,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new position in shares of LGI Homes during the 4th quarter worth approximately $38,000. First Horizon Advisors Inc. lifted its stake in LGI Homes by 35.8% in the fourth quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 93 shares during the last quarter. RiverPark Advisors LLC bought a new stake in shares of LGI Homes in the 3rd quarter valued at about $49,000. International Assets Investment Management LLC acquired a new position in shares of LGI Homes during the 4th quarter worth approximately $71,000. Finally, Financial Management Professionals Inc. raised its stake in LGI Homes by 27.3% during the fourth quarter. Financial Management Professionals Inc. now owns 537 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 115 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Performance

Shares of LGIH stock traded up $1.40 on Thursday, hitting $99.42. 153,916 shares of the stock were exchanged, compared to its average volume of 207,436. LGI Homes, Inc. has a one year low of $84.15 and a one year high of $141.91. The firm’s 50 day moving average is $104.02 and its two-hundred day moving average is $113.69. The firm has a market capitalization of $2.34 billion, a PE ratio of 12.25 and a beta of 1.86. The company has a current ratio of 12.36, a quick ratio of 0.43 and a debt-to-equity ratio of 0.74.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.30). LGI Homes had a net margin of 8.37% and a return on equity of 10.43%. The business had revenue of $390.90 million during the quarter, compared to the consensus estimate of $400.00 million. During the same period last year, the firm earned $1.14 EPS. The business’s revenue for the quarter was down 19.8% on a year-over-year basis. Sell-side analysts expect that LGI Homes, Inc. will post 9.25 earnings per share for the current fiscal year.

Insider Transactions at LGI Homes

In other LGI Homes news, CFO Charles Michael Merdian sold 6,361 shares of the firm’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 $712,113.95. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through the SEC website. In other LGI Homes news, General Counsel Scott James Garber sold 1,212 shares of LGI Homes stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $135,683.40. Following the completion of the sale, the general counsel now owns 13,824 shares of the company’s stock, valued at $1,547,596.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Charles Michael Merdian sold 6,361 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $712,113.95. Following the completion of the transaction, the chief financial officer now owns 9,458 shares in the company, valued at approximately $1,058,823.10. The disclosure for this sale can be found here. Insiders sold 26,435 shares of company stock valued at $2,944,291 over the last three months. Company insiders own 12.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wedbush reiterated an “underperform” rating and issued a $74.00 target price (down from $88.00) on shares of LGI Homes in a research report on Tuesday, April 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a research note on Friday, April 5th. Finally, StockNews.com cut shares of LGI Homes from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.50.

LGI Homes Company 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.