LGI Homes Target of Unusually High Options Trading (LGIH)

LGI Homes Inc (NASDAQ:LGIH) was the target of some unusual options trading activity on Friday. Traders bought 528 put options on the stock. This is an increase of Infinity compared to the average daily volume of 0 put options.

A number of research analysts have issued reports on the stock. Deutsche Bank AG boosted their target price on shares of LGI Homes from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co lowered shares of LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 target price for the company. in a research note on Wednesday, August 9th. Wedbush lowered shares of LGI Homes from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $55.00 to $49.00 in a research note on Tuesday, October 3rd. Zacks Investment Research lowered shares of LGI Homes from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, ValuEngine raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 30th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $49.40.

In other LGI Homes news, insider Michael Larry Snider sold 3,500 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $45.81, for a total transaction of $160,335.00. Following the completion of the transaction, the insider now directly owns 191,948 shares of the company’s stock, valued at approximately $8,793,137.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Thomas Lipar sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $54.27, for a total transaction of $1,356,750.00. Following the transaction, the chief executive officer now directly owns 504,593 shares of the company’s stock, valued at $27,384,262.11. The disclosure for this sale can be found here. Insiders sold a total of 53,500 shares of company stock valued at $2,674,585 over the last ninety days. Company insiders own 13.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of LGI Homes by 3.9% during the 2nd quarter. BlackRock Inc. now owns 2,493,251 shares of the financial services provider’s stock worth $100,180,000 after buying an additional 92,633 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of LGI Homes by 34.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,296 shares of the financial services provider’s stock worth $11,021,000 after buying an additional 69,653 shares in the last quarter. Scout Investments Inc. bought a new stake in shares of LGI Homes during the 2nd quarter worth about $1,687,000. Prudential Financial Inc. raised its position in shares of LGI Homes by 56.5% during the 1st quarter. Prudential Financial Inc. now owns 44,330 shares of the financial services provider’s stock worth $1,503,000 after buying an additional 16,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of LGI Homes by 21.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 80,279 shares of the financial services provider’s stock worth $3,226,000 after buying an additional 14,002 shares in the last quarter. Institutional investors own 93.38% of the company’s stock.

Shares of LGI Homes (LGIH) opened at $60.11 on Monday. LGI Homes has a 52-week low of $26.82 and a 52-week high of $61.66. The company has a market cap of $1,299.34, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.23 and a beta of 0.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.91 and a current ratio of 11.06.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.12. LGI Homes had a net margin of 9.93% and a return on equity of 33.13%. The company had revenue of $324.20 million for the quarter, compared to the consensus estimate of $317.63 million. During the same period in the previous year, the firm earned $0.96 EPS. LGI Homes’s revenue was up 45.6% on a year-over-year basis. sell-side analysts anticipate that LGI Homes will post 4.44 earnings per share for the current fiscal year.

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LGI Homes Company Profile

LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

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