First Eagle Investment Management LLC Purchases 1,950 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

First Eagle Investment Management LLC raised its position in LGI Homes, Inc. (NASDAQ:LGIH) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 110,015 shares of the financial services provider’s stock after acquiring an additional 1,950 shares during the period. First Eagle Investment Management LLC’s holdings in LGI Homes were worth $9,835,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its position in LGI Homes by 131.4% in the third quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after buying an additional 63,346 shares in the last quarter. Citigroup Inc. increased its position in LGI Homes by 60.9% in the third quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock worth $4,954,000 after buying an additional 15,818 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in LGI Homes in the third quarter worth about $334,000. River Road Asset Management LLC increased its position in LGI Homes by 30.6% in the fourth 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. Finally, Proficio Capital Partners LLC purchased a new stake in LGI Homes in the fourth quarter worth about $1,934,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at LGI Homes

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 27,102 shares in the company, valued at $2,058,125.88. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.40% of the stock is currently owned by company insiders.

LGI Homes Stock Performance

NASDAQ:LGIH opened at $71.86 on Friday. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. LGI Homes, Inc. has a 12-month low of $68.66 and a 12-month high of $125.83. The stock has a 50-day moving average price of $83.50 and a 200 day moving average price of $98.44. The stock has a market capitalization of $1.68 billion, a P/E ratio of 8.62 and a beta of 2.13.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.16). The firm had revenue of $557.40 million for the quarter, compared to analysts’ expectations of $588.56 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.19 EPS. Equities research analysts forecast that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

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.