LGI Homes Sees Unusually High Options Volume (LGIH)

LGI Homes Inc (NASDAQ:LGIH) saw unusually large options trading on Thursday. Stock investors bought 604 put options on the company. This represents an increase of approximately 586% compared to the average volume of 88 put options.

LGIH has been the topic of several research analyst reports. Wedbush raised LGI Homes from a “neutral” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research note on Thursday, August 31st. JMP Securities raised their price objective on LGI Homes from $62.00 to $68.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 8th. TheStreet raised LGI Homes from a “c+” rating to a “b-” rating in a research note on Monday, November 13th. Zacks Investment Research raised LGI Homes from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a research note on Wednesday, October 11th. Finally, BidaskClub lowered LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 25th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. LGI Homes currently has an average rating of “Buy” and an average price target of $54.33.

In related news, insider Michael Larry Snider sold 3,500 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $45.81, for a total value of $160,335.00. Following the transaction, the insider now owns 191,948 shares in the company, valued at $8,793,137.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bryan Christopher Sansbury sold 23,101 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $63.28, for a total value of $1,461,831.28. The disclosure for this sale can be found here. Insiders sold 71,601 shares of company stock worth $4,233,916 in the last 90 days. 13.60% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of LGI Homes by 3.9% during the second quarter. BlackRock Inc. now owns 2,493,251 shares of the financial services provider’s stock valued at $100,180,000 after purchasing an additional 92,633 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of LGI Homes by 4.3% during the second quarter. Frontier Capital Management Co. LLC now owns 1,837,651 shares of the financial services provider’s stock valued at $73,837,000 after purchasing an additional 75,115 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of LGI Homes by 3.4% during the second quarter. Vanguard Group Inc. now owns 878,551 shares of the financial services provider’s stock valued at $35,299,000 after purchasing an additional 29,296 shares in the last quarter. Heartland Advisors Inc. boosted its stake in shares of LGI Homes by 3.7% during the second quarter. Heartland Advisors Inc. now owns 727,800 shares of the financial services provider’s stock valued at $29,243,000 after purchasing an additional 25,800 shares in the last quarter. Finally, FMR LLC acquired a new stake in shares of LGI Homes during the second quarter valued at about $21,233,000. 92.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LGI Homes (NASDAQ LGIH) opened at $71.64 on Friday. The firm has a market capitalization of $1,527.30, a PE ratio of 16.26, a P/E/G ratio of 1.40 and a beta of 0.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 8.91 and a quick ratio of 0.86. LGI Homes has a 12 month low of $26.82 and a 12 month high of $71.96.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.10. The business had revenue of $365.90 million for the quarter, compared to analyst estimates of $355.81 million. LGI Homes had a return on equity of 25.51% and a net margin of 9.26%. LGI Homes’s revenue was up 69.2% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. equities analysts predict that LGI Homes will post 4.56 EPS for the current fiscal year.

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About LGI Homes

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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