Nuveen LLC Makes New Investment in LGI Homes, Inc. $LGIH

Key Points

• Nuveen LLC has acquired 64,880 shares in LGI Homes, Inc., worth approximately $4,313,000, representing a 0.28% stake as of its latest SEC filing.
• Several large investors have increased their stakes in LGI Homes, with hedge funds and institutional investors collectively owning 84.89% of the stock.
• Analysts have mixed views on LGI Homes, with target prices ranging from $47.00 to $93.00, and an overall average rating of "Hold."

Nuveen LLC bought a new position in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 64,880 shares of the financial services provider's stock, valued at approximately $4,313,000. Nuveen LLC owned 0.28% of LGI Homes at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in LGI Homes by 213.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,234 shares of the financial services provider's stock worth $680,000 after acquiring an additional 6,970 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of LGI Homes by 219.1% in the first quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider's stock valued at $59,000 after buying an additional 609 shares in the last quarter. Northern Trust Corp increased its stake in shares of LGI Homes by 11.5% in the fourth quarter. Northern Trust Corp now owns 219,547 shares of the financial services provider's stock valued at $19,628,000 after buying an additional 22,615 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of LGI Homes by 22.4% in the first quarter. Janney Montgomery Scott LLC now owns 3,406 shares of the financial services provider's stock valued at $226,000 after buying an additional 623 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of LGI Homes in the first quarter valued at $211,000. 84.89% of the stock is owned by institutional investors.

LGI Homes Trading Down 1.0%

LGIH traded down $0.63 during midday trading on Friday, reaching $61.91. 429,433 shares of the company were exchanged, compared to its average volume of 443,096. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 18.18. LGI Homes, Inc. has a one year low of $47.17 and a one year high of $125.83. The stock has a market capitalization of $1.43 billion, a P/E ratio of 9.34 and a beta of 1.69. The stock's 50-day simple moving average is $57.21 and its 200 day simple moving average is $60.29.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.15. LGI Homes had a return on equity of 8.00% and a net margin of 7.63%.The firm had revenue of $483.49 million for the quarter, compared to analysts' expectations of $546.96 million. During the same quarter last year, the business earned $2.48 earnings per share. The company's revenue was down 19.8% compared to the same quarter last year. As a group, analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wedbush restated a "neutral" rating and issued a $93.00 target price on shares of LGI Homes in a research note on Monday, July 7th. Citigroup restated a "market outperform" rating on shares of LGI Homes in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on LGI Homes from $52.00 to $47.00 and set an "underweight" rating for the company in a research report on Wednesday, July 9th. Finally, JMP Securities lifted their price objective on LGI Homes from $75.00 to $85.00 and gave the stock a "market outperform" rating in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $75.00.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.