Shares last traded at $60.33 a great deal higher than $51.20, the 50 day moving average and significantly above the 200 day moving average of $41.93. The 50 day moving average moved up $9.13 whereas the 200 day average was up by +43.88%. (NASDAQ:LGIH) shares saw heavy trading volume with 300K shares changing hands by the end of trading on Tuesday. Overall, volume was up 4.10% over the stocks normal daily volume.
Traders are more bearish on LGI Homes, Inc. of late looking at the increase in short interest. The firm realized a rise in short interest from September 29, 2017 to October 13, 2017 of 0.15%. Short interest increased from 5,332,002 to 5,340,041 over that timeframe. Days to cover decreased from 25.0 to 15.0 and the percentage of shorted shares was 0.25% on October 13.
Here is a rundown on some insider market activity for LGI Homes, Inc. (NASDAQ:LGIH). Michael Larry Snider, President and COO disclosed the sale of 3,500 shares of (LGIH). The shares were purchased at an average price of $45.81. Snider now owns $8,632,803 of the stock according to the SEC filing.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Victory Capital Management Inc had disposed of 664 shares trimming its position 18.3%. The value of the investment in LGIH decreased from $146,000 to $144,000 a change of 1.4% quarter over quarter. As of quarter end Nationwide Fund Advisors had sold a total of 251 shares trimming its stake by 2.6%. The value of the investment in LGI Homes, Inc. went from $394,000 to $465,000 increasing 18.0% quarter to quarter.
Montgomery Investment Management Inc expanded its holdings by buying 2,200 shares an increase of 6.7% from 06/30/2017 to 09/30/2017. Montgomery Investment Management Inc controls 34,880 shares valued at $1,694,000. The total value of its holdings increased 29.0%. As of the end of the quarter Raymond James Financial Services Advisors, Inc. had bought a total of 11,120 shares growing its holdings by 137.3%. The value of the total investment in LGI Homes, Inc. went from $325,000 to $934,000 a change of $609,000 since the last quarter.
On August 9 the company was downgraded to “Neutral” from “Overweight” in a report from JP Morgan. On August 31 the stock rating was upgraded from “Neutral” to “Outperform” by Wedbush.
On October 3 the company was rated “Neutral” by Wedbush a cut from the previous “Outperform” rating.
The P/E ratio is currently 16.02 and the market cap of the company is 1.30B. In the last earnings report the EPS was $3.77 and is expected to be $4.41 for the current year with 21,615,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $1.16 with next year’s EPS anticipated to be $5.14.
LGI Homes, Inc., launched on June 26, 2013, is a homebuilder and land developer. The Company is involved 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. The Texas division includes homebuilding operations in Houston, Dallas/Fort Worth, San Antonio and Austin locations. The Southwest division includes homebuilding operations in Phoenix, Tucson, Albuquerque, Denver and Colorado Springs locations. The Southeast division includes homebuilding operations in Atlanta, Charlotte and Nashville locations. The Florida division includes homebuilding operations in Tampa, Orlando, Fort Myers and Jacksonville locations. The Northwest division includes homebuilding operations in Seattle location..