47,137 Shares in LGI Homes, Inc. $LGIH Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG bought 47,137 shares of LGI Homes in the second quarter, valued at approximately $3 million, while institutional investors collectively own 84.89% of the company.
• LGI Homes reported quarterly earnings of $1.16 per share, beating estimates of $0.98, while revenue rose 6.7% year over year to $516.05 million.
• The stock opened at $58.22 after falling 1.4%; analysts collectively rate LGI Homes “Hold,” with an average price target of $72.75.

Deutsche Bank AG purchased a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 47,137 shares of the financial services provider's stock, valued at approximately $3,002,000. Deutsche Bank AG owned 0.20% of LGI Homes as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of LGI Homes in the second quarter worth about $7,625,000. CDAM UK Ltd boosted its position in LGI Homes by 15.4% in the fourth quarter. CDAM UK Ltd now owns 743,153 shares of the financial services provider's stock valued at $31,926,000 after buying an additional 99,090 shares during the last quarter. Voloridge Investment Management LLC boosted its position in LGI Homes by 118.5% in the third quarter. Voloridge Investment Management LLC now owns 155,012 shares of the financial services provider's stock valued at $8,016,000 after buying an additional 84,079 shares during the last quarter. Trexquant Investment LP increased its holdings in LGI Homes by 171.3% in the 4th quarter. Trexquant Investment LP now owns 125,065 shares of the financial services provider's stock worth $5,373,000 after buying an additional 78,960 shares during the period. Finally, Shay Capital LLC purchased a new position in LGI Homes during the 2nd quarter worth approximately $3,235,000. Hedge funds and other institutional investors own 84.89% of the company's stock.

LGI Homes Trading Down 1.4%

Shares of LGI Homes stock opened at $58.22 on Thursday. The firm has a 50-day simple moving average of $58.99 and a two-hundred day simple moving average of $50.92. The company has a market cap of $1.35 billion, a P/E ratio of 20.43 and a beta of 1.83. LGI Homes, Inc. has a fifty-two week low of $33.55 and a fifty-two week high of $69.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 17.74.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.18. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%.The firm had revenue of $516.05 million for the quarter, compared to analysts' expectations of $489.23 million. During the same period last year, the firm earned $1.36 EPS. The company's quarterly revenue was up 6.7% on a year-over-year basis.

Wall Street Analyst Weigh In

Several analysts have commented on LGIH shares. Weiss Ratings cut shares of LGI Homes from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 20th. JPMorgan Chase & Co. raised their target price on shares of LGI Homes from $38.00 to $41.00 and gave the stock an "underweight" rating in a report on Thursday, April 30th. Finally, Wall Street Zen raised shares of LGI Homes from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, LGI Homes has an average rating of "Hold" and an average target price of $72.75.

LGI Homes Profile

LGI Homes, Inc NASDAQ: LGIH is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source