Bank of New York Mellon Corp Has $13.69 Million Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Bank of New York Mellon Corp boosted its position in LGI Homes, Inc. (NASDAQ:LGIH) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 153,111 shares of the financial services provider’s stock after buying an additional 5,727 shares during the period. Bank of New York Mellon Corp owned approximately 0.65% of LGI Homes worth $13,688,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Disciplined Growth Investors Inc. MN raised its position in shares of LGI Homes by 3.7% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider’s stock worth $111,350,000 after acquiring an additional 33,306 shares in the last quarter. Geode Capital Management LLC increased its holdings in LGI Homes by 1.5% in the third quarter. Geode Capital Management LLC now owns 497,039 shares of the financial services provider’s stock worth $58,920,000 after purchasing an additional 7,129 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in LGI Homes by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 349,141 shares of the financial services provider’s stock worth $41,380,000 after purchasing an additional 24,555 shares in the last quarter. Holocene Advisors LP lifted its stake in LGI Homes by 386.2% in the third quarter. Holocene Advisors LP now owns 130,968 shares of the financial services provider’s stock valued at $15,522,000 after buying an additional 104,030 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of 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 buying an additional 63,346 shares in the last quarter. Institutional investors own 84.89% of the company’s stock.

Wall Street Analyst Weigh In

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

LGI Homes Stock Performance

NASDAQ LGIH opened at $71.91 on Thursday. The company has a market cap of $1.68 billion, a P/E ratio of 8.62 and a beta of 2.13. The company has a fifty day simple moving average of $84.18 and a 200 day simple moving average of $98.82. 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.

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

Insider Buying and Selling at LGI Homes

In related news, COO Michael Larry Snider sold 1,105 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $75.94, for a total value of $83,913.70. Following the completion of the sale, the chief operating officer now directly owns 27,102 shares of the company’s stock, valued at approximately $2,058,125.88. This represents a 3.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.40% of the company’s stock.

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.