Fidelity Management & Research Co recently announced the acquisition of new stake in LGI Homes Inc. (NASDAQ:LGIH). The institutional investor has increased its shareholding in the Consumer Cyclical company by 16.96% to 1.55 million shares with purchase of 0.22 million shares. This fresh investment now brings its stake to 6.66% valued currently at $143.69 million. In addition, Dimensional Fund Advisors LP raised its holdings by 0.15 million to 0.91 million shares. And CDAM has lifted its position by 3.16% or 18268.0 shares – to 0.6 million shares.
With over 0.34 million LGI Homes Inc. (LGIH) shares trading Friday and a closing price of $107.23 on the day, the dollar volume was approximately $35.93 million. The shares have shown a positive half year performance of 11.15% and its price on 01/13/23 gained nearly 2.28%. Currently, there are 23.27M common shares owned by the public and among those 20.47M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for LGIH have a consensus price objective of $104.67. The analysts have set the share’s price value over the next 12 months at a high of $140.00 and a low of $84.00. The average price target is -4.11% below its recent price level and a downside to the estimated low will see the stock lose -27.65% over that period. But an upside of 23.41% will see the stock hit the forecast high price target while median target price for the stock is $90.00.
Insiders at the company have transacted a total of 62 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 146,598 shares. Insider sales of the common stock occurred on 52 occasions, with total insider shares sold totaling 210,913 shares.
The top 3 mutual fund holders in LGI Homes Inc. are iShares Core S&P Small Cap ETF, Fidelity Comwlth. Tr. – Small Cap, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 1.52 million shares of the company’s stock, all valued at over $140.41 million. The company sold 1040.0 shares recently to bring their total holdings to about 6.51% of the shares outstanding. Vanguard Total Stock Market Index bought 1326.0 shares to bring its total holdings to over 0.6 million shares at a value of $55.5 million. Vanguard Total Stock Market Index now owns shares totaling to 2.57% of the shares outstanding.
Shares of LGI Homes Inc. (NASDAQ: LGIH) opened at $103.53, down -$1.31 from a prior closing price of $104.84. However, the script later moved the day high at 107.90, up 2.28%. The company’s stock has a 5-day price change of 5.66% and 28.50% over the past three months. LGIH shares are trading 15.80% year to date (YTD), with the 12-month market performance down to -21.39% lower. It has a 12-month low price of $71.73 and touched a high of $141.85 over the same period. LGIH has an average intraday trading volume of 233.53K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.98%, 12.35%, and 13.54% respectively.
Institutional ownership of LGI Homes Inc. (NASDAQ: LGIH) shares accounts for 89.80% of the company’s 23.27M shares outstanding. Mutual fund holders own 31.60%, while other institutional holders and individual stakeholders account for 56.92% and 20.12% respectively.
It has a market capitalization of $2.44B and a beta (3y monthly) value of 1.61. The stock’s trailing 12-month PE ratio is 6.37, while the earnings-per-share (ttm) stands at $16.83. The company has a PEG of 0.43 and the debt-to-equity ratio at 0.77. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.41% over the week and 3.58% over the month.
Analysts forecast that LGI Homes Inc. (LGIH) will achieve an EPS of $3.52 for the current quarter, $3.65 for the next quarter and $13.14 for 2023. The lowest estimate earnings-per-share for the quarter is $2.76 while analysts give the company a high EPS estimate of $4.62. Comparatively, EPS for the current quarter was $4.05 a year ago. Earnings per share for the fiscal year are expected to increase by 35.20%, and -34.21% over the next financial year. EPS should shrink at an annualized rate of 14.83% over the next five years, compared to 38.30% over the past 5-year period.
BTIG Research coverage for the LGI Homes Inc. (LGIH) stock in a research note released on March 23, 2022 offered a Sell rating with a price target of $98. Wells Fargo was of a view on December 09, 2021 that the stock is Equal Weight, while Wells Fargo gave the stock Underweight rating on April 16, 2021, issuing a price target of $150. KeyBanc Capital Markets on their part issued Sector Weight rating on February 22, 2021.