LGI Homes Inc (NASDAQ:LGIH) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totalling 2,511,500 shares, an increase of 16.8% from the February 27th total of 2,150,000 shares. Approximately 11.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 514,100 shares, the days-to-cover ratio is currently 4.9 days.
Several hedge funds have recently bought and sold shares of the company. First Trust Advisors LP lifted its position in LGI Homes by 100.7% during the 1st quarter. First Trust Advisors LP now owns 63,298 shares of the financial services provider’s stock worth $3,813,000 after acquiring an additional 31,761 shares during the period. Psagot Investment House Ltd. raised its stake in shares of LGI Homes by 54.8% during the 3rd quarter. Psagot Investment House Ltd. now owns 4,025 shares of the financial services provider’s stock worth $335,000 after buying an additional 1,425 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of LGI Homes by 3,365.7% during the 3rd quarter. Voya Investment Management LLC now owns 269,806 shares of the financial services provider’s stock worth $22,480,000 after buying an additional 262,021 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of LGI Homes during the 3rd quarter worth approximately $243,000. Finally, CDAM UK Ltd raised its stake in shares of LGI Homes by 18.7% during the 3rd quarter. CDAM UK Ltd now owns 357,179 shares of the financial services provider’s stock worth $29,760,000 after buying an additional 56,275 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.
A number of equities research analysts have commented on LGIH shares. ValuEngine upgraded LGI Homes from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 24th. JPMorgan Chase & Co. cut LGI Homes from a “neutral” rating to an “underweight” rating and set a $39.00 target price on the stock. in a report on Wednesday, March 18th. Wells Fargo & Co increased their target price on LGI Homes from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. BTIG Research reiterated a “sell” rating and set a $68.00 target price on shares of LGI Homes in a report on Monday, February 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Thursday, March 26th. Three analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $70.60.LGIH stock opened at $45.15 on Wednesday. LGI Homes has a 52-week low of $33.55 and a 52-week high of $95.72. The stock’s fifty day simple moving average is $72.42 and its 200-day simple moving average is $76.25. The company has a quick ratio of 1.05, a current ratio of 12.55 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.45 and a beta of 0.40.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, February 25th. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.18. LGI Homes had a return on equity of 23.62% and a net margin of 9.72%. The business had revenue of $605.60 million for the quarter, compared to analysts’ expectations of $559.73 million. During the same quarter last year, the firm earned $1.72 earnings per share. The business’s revenue was up 42.4% on a year-over-year basis. As a group, analysts anticipate that LGI Homes will post 8.16 earnings per share for the current fiscal year.
LGI Homes Company Profile
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.