LGI Homes (NASDAQ:LGIH) Sets New 12-Month Low – Here’s What Happened

LGI Homes, Inc. (NASDAQ:LGIH) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $81.35 and last traded at $81.88, with a volume of 7531 shares. The stock had previously closed at $84.08.

Analysts Set New Price Targets

A number of research analysts have weighed in on LGIH shares. Seaport Res Ptn raised LGI Homes from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. 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. JMP Securities reiterated a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a research note on Friday, January 10th. Finally, Wedbush restated a “neutral” rating and set a $115.00 price target (down from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, LGI Homes presently has an average rating of “Hold” and an average target price of $118.33.

LGI Homes Trading Down 3.4 %

The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The stock has a market cap of $1.91 billion, a PE ratio of 9.75 and a beta of 2.03. The firm has a fifty day simple moving average of $90.17 and a two-hundred day simple moving average of $101.87.

Institutional Investors Weigh In On LGI Homes

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in shares of LGI Homes by 112.9% in the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after buying an additional 184 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in LGI Homes in the third quarter valued at $43,000. Sterling Capital Management LLC increased its stake in LGI Homes by 801.5% in the fourth quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 545 shares during the last quarter. KBC Group NV lifted its stake in LGI Homes by 29.8% during the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 168 shares during the last quarter. Finally, CWM LLC lifted its stake in LGI Homes by 27.5% during the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 187 shares during the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

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.