LGI Homes (NASDAQ:LGIH) Sets New 1-Year Low – Here’s What Happened

Shares of LGI Homes, Inc. (NASDAQ:LGIH) hit a new 52-week low on Wednesday . The stock traded as low as $81.35 and last traded at $81.88, with a volume of 7531 shares traded. The stock had previously closed at $84.08.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a research report on Friday, January 10th. Seaport Res Ptn upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. Wedbush restated a “neutral” rating and set a $115.00 price target (down from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. dropped their price objective on 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 assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $118.33.

LGI Homes Stock Performance

The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 9.33 and a beta of 2.03. The stock’s fifty day simple moving average is $88.83 and its 200-day simple moving average is $101.42.

Institutional Trading of LGI Homes

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in LGI Homes by 131.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after purchasing an additional 63,346 shares during the period. Citigroup Inc. grew its position in shares of LGI Homes by 60.9% during 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. Wealth Enhancement Advisory Services LLC increased its stake in shares of LGI Homes by 5.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock worth $383,000 after buying an additional 176 shares during the period. Sanctuary Advisors LLC acquired a new stake in LGI Homes in the third quarter valued at approximately $334,000. Finally, Creative Planning acquired a new stake in LGI Homes in the third quarter valued at approximately $375,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

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.