The stock is trading at $56.06 which is significantly higher than $48.90, the stock’s 50 day moving average and quite a bit above the 200 day moving average of $40.80. The 50 day moving average was up $7.16 or +14.64% whereas the 200 day average was up by +37.40%. LGI Homes, Inc. shares had a trading volume of 252K in the last trading session. Shares saw a steep decrease in trading volume of 7.44% under the normal average daily volume.
Investors are a little more bullish on shares of the company if you take note of the downtick in short interest. The firm experienced a fall in short interest of -9.91% as of September 29, 2017 from the last reporting period. Short shares decreased 586,347 over that timeframe. Days to cover increased 8.0 to 25.0 and the percentage of shorted shares is 0.25% as of September 29.
LGI Homes, Inc. (NASDAQ:LGIH) has been the object of insider selling activity recently. Michael Larry Snider, President and COO let go of $160,335 worth of shares at an average price of $45.81 on Thu the 21st. The President and COO now owns $8,632,803 of the stock per an SEC filing yesterday.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Campbell Newman Asset Management Inc had bought a total of 1,579 shares growing its position 14.7%. The value of the investment in LGI Homes, Inc. increased from $432,000 to $599,000 a change of 38.7% for the reporting period. Sheets Smith Wealth Management added to its position by buying 8,663 shares an increase of 75.4%. Sheets Smith Wealth Management now controls 20,156 shares valued at $979,000. The value of the position overall is up by 111.9%.
State of Alaska, Department of Revenue bolstered its investment by buying 30 shares an increase of 0.9% as of 09/30/2017. State of Alaska, Department of Revenue owns 3,423 shares worth $166,000. The total value of its holdings increased 22.1%. As of quarter end Cutler Group LP had disposed of 2,235 shares trimming its holdings by 49.3%. The value in dollars went from $182,000 to $3,000 decreasing 98.4% quarter to quarter.
On August 9 the company was downgraded from “Overweight” to “Neutral” in a report issued by JP Morgan. On August 31, 2017 the stock rating was changed to “Outperform” in a report from Wedbush which was a boost from the previous “Neutral” rating.
On October 3 the company was rated “Neutral” according to a Wedbush report down from the previous “Outperform” rating.
The company’s P/E ratio is 14.89 and the market cap of the company is 1.21B. In the last earnings report the EPS was $3.77 and is projected to be $4.41 for the current year with 21,615,000 shares presently outstanding. Next quarter’s EPS is estimated at $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..