LGI Homes (NASDAQ:LGIH) Shares Gap Down – Here’s What Happened

LGI Homes, Inc. (NASDAQ:LGIH)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $93.58, but opened at $91.65. LGI Homes shares last traded at $94.35, with a volume of 58,053 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LGIH. Wedbush reiterated a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a research report on Wednesday, November 6th. JPMorgan Chase & Co. cut their target price on shares of LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a research report on Friday, December 13th.

LGI Homes Trading Down 3.7 %

The company has a market capitalization of $2.12 billion, a P/E ratio of 10.80 and a beta of 1.99. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The business’s 50-day moving average price is $106.66 and its two-hundred day moving average price is $104.33.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.41. The firm had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.84 earnings per share. As a group, analysts forecast that LGI Homes, Inc. will post 8.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of LGI Homes during the 2nd quarter worth approximately $39,000. First Horizon Advisors Inc. boosted its holdings in shares of LGI Homes by 32.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 108 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of LGI Homes in the 3rd quarter valued at $43,000. KBC Group NV increased its stake in shares of LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 168 shares during the last quarter. Finally, CWM LLC lifted its position in shares of LGI Homes by 27.5% during the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after buying an additional 187 shares during the last quarter. Institutional investors own 84.89% of the company’s stock.

About LGI Homes

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.