LGI Homes, Inc. (NASDAQ:LGIH) Shares Sold by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc trimmed its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 9.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 27,782 shares of the financial services provider’s stock after selling 2,829 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in LGI Homes were worth $2,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LGIH. Commonwealth Equity Services LLC boosted its holdings in shares of LGI Homes by 38.8% in the second quarter. Commonwealth Equity Services LLC now owns 2,702 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 755 shares during the period. Arizona State Retirement System boosted its holdings in shares of LGI Homes by 1.9% in the second quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock valued at $532,000 after acquiring an additional 112 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of LGI Homes by 3.9% in the second quarter. Texas Permanent School Fund Corp now owns 18,649 shares of the financial services provider’s stock valued at $1,669,000 after acquiring an additional 707 shares during the period. American Century Companies Inc. boosted its holdings in shares of LGI Homes by 21.3% in the second quarter. American Century Companies Inc. now owns 29,358 shares of the financial services provider’s stock valued at $2,627,000 after acquiring an additional 5,159 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of LGI Homes by 14.5% in the second quarter. Envestnet Asset Management Inc. now owns 32,741 shares of the financial services provider’s stock valued at $2,930,000 after acquiring an additional 4,145 shares during the period. 84.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LGIH. JPMorgan Chase & Co. decreased their price objective on LGI Homes from $100.00 to $82.00 and set an “underweight” rating for the company in a report on Friday, December 13th. Wedbush restated a “neutral” rating and set a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a research note on Friday.

LGI Homes Price Performance

NASDAQ:LGIH traded up $1.08 during trading hours on Monday, hitting $84.37. The company’s stock had a trading volume of 55,332 shares, compared to its average volume of 181,005. The business’s 50-day moving average is $99.70 and its two-hundred day moving average is $103.75. The company has a market capitalization of $1.98 billion, a PE ratio of 10.12 and a beta of 2.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. LGI Homes, Inc. has a 52-week low of $82.94 and a 52-week high of $130.75.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.41. The firm had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. LGI Homes’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.84 earnings per share. As a group, research analysts anticipate that LGI Homes, Inc. will post 8.72 EPS for the current fiscal year.

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.