LGI Homes, Inc. (NASDAQ:LGIH) Position Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,136 shares of the financial services provider’s stock after purchasing an additional 402 shares during the period. PNC Financial Services Group Inc.’s holdings in LGI Homes were worth $459,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of LGIH. JPMorgan Chase & Co. raised its stake in LGI Homes by 131.4% during the third quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after acquiring an additional 63,346 shares during the period. Citigroup Inc. raised its stake in 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 acquiring an additional 15,818 shares during the period. Sanctuary Advisors LLC acquired a new stake in LGI Homes during the third quarter worth about $334,000. Proficio Capital Partners LLC acquired a new stake in LGI Homes during the fourth quarter worth about $1,934,000. Finally, Covalent Partners LLC acquired a new stake in LGI Homes during the third quarter worth about $2,655,000. Institutional investors own 84.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $160.00 price objective on shares of LGI Homes in a research note on Friday, January 10th. JPMorgan Chase & Co. dropped their price target on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock 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 research note on Monday, January 27th. Finally, Wedbush restated a “neutral” rating and issued a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Two investment 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $118.33.

Insider Activity

In other news, COO Michael Larry Snider sold 1,105 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $75.94, for a total value of $83,913.70. Following the completion of the transaction, the chief operating officer now directly owns 27,102 shares in the company, valued at $2,058,125.88. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.40% of the company’s stock.

LGI Homes Price Performance

Shares of NASDAQ:LGIH opened at $72.85 on Thursday. The firm’s 50 day moving average is $82.42 and its two-hundred day moving average is $97.35. LGI Homes, Inc. has a 52 week low of $68.66 and a 52 week high of $125.83. The firm has a market capitalization of $1.70 billion, a P/E ratio of 8.74 and a beta of 2.13. 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 (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.16). The company had revenue of $557.40 million during the quarter, compared to the consensus estimate of $588.56 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business earned $2.19 earnings per share. Analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

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.