Legal & General Group Plc purchased a new stake in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 48,443 shares of the financial services provider's stock, valued at approximately $3,085,000. Legal & General Group Plc owned about 0.21% of LGI Homes at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in LGIH. Atlas FRM LLC bought a new stake in LGI Homes during the 2nd quarter valued at $61,578,560. OneDigital Investment Advisors LLC acquired a new position in LGI Homes during the 2nd quarter valued at about $2,739,000. Royce & Associates LP increased its holdings in LGI Homes by 53.2% during the 4th quarter. Royce & Associates LP now owns 87,729 shares of the financial services provider's stock worth $3,769,000 after purchasing an additional 30,461 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of LGI Homes by 16.1% in the second quarter. Wasatch Advisors LP now owns 213,471 shares of the financial services provider's stock worth $13,594,000 after purchasing an additional 29,679 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of LGI Homes in the second quarter valued at approximately $1,973,000. 84.89% of the stock is currently owned by institutional investors.
LGI Homes Price Performance
Shares of NASDAQ:LGIH opened at $55.00 on Friday. The stock has a market cap of $1.28 billion, a PE ratio of 19.30 and a beta of 1.84. LGI Homes, Inc. has a 52 week low of $33.55 and a 52 week high of $69.50. The company's fifty day moving average is $58.44 and its 200 day moving average is $50.75. The company has a quick ratio of 0.61, a current ratio of 17.74 and a debt-to-equity ratio of 0.74.
LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly 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. The company had revenue of $516.05 million during the quarter, compared to analyst estimates of $489.23 million. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The firm's revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 EPS.
Wall Street Analyst Weigh In
A number of research firms recently commented on LGIH. Wall Street Zen raised LGI Homes from a "sell" rating to a "hold" rating in a research report on Sunday, August 16th. Weiss Ratings lowered LGI Homes from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $72.75.
Check Out Our Latest Analysis on LGI Homes
About LGI Homes
(
Free Report)
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.
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