Charles Schwab Investment Management Inc. Acquires 27,652 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Charles Schwab Investment Management Inc. raised its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 376,793 shares of the financial services provider’s stock after buying an additional 27,652 shares during the period. Charles Schwab Investment Management Inc. owned about 1.60% of LGI Homes worth $33,685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Holocene Advisors LP boosted its holdings in shares of LGI Homes by 386.2% in the third quarter. Holocene Advisors LP now owns 130,968 shares of the financial services provider’s stock worth $15,522,000 after buying an additional 104,030 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 valued at $13,222,000 after acquiring an additional 63,346 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in LGI Homes in the 3rd quarter worth $6,859,000. Disciplined Growth Investors Inc. MN lifted its position in LGI Homes by 3.7% during the third quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider’s stock valued at $111,350,000 after purchasing an additional 33,306 shares in the last quarter. Finally, Basswood Capital Management L.L.C. purchased a new position in LGI Homes during the third quarter valued at $3,103,000. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Stock Performance

NASDAQ LGIH opened at $71.86 on Monday. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. LGI Homes, Inc. has a twelve month low of $68.66 and a twelve month high of $125.83. The business has a 50-day moving average price of $83.20 and a 200-day moving average price of $98.01. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 8.62 and a beta of 2.13.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share 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 firm had revenue of $557.40 million for the quarter, compared to analysts’ expectations of $588.56 million. During the same quarter in the previous year, the business earned $2.19 EPS. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities research analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Analyst Ratings Changes

LGIH has been the topic of several recent research reports. Wedbush reaffirmed 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. Seaport Res Ptn raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $118.33.

Insiders Place Their Bets

In related news, COO Michael Larry Snider sold 1,105 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $75.94, for a total value of $83,913.70. Following the transaction, the chief operating officer now owns 27,102 shares of the company’s stock, 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 accessible through the SEC website. 12.40% of the stock is owned by insiders.

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.