Atlas FRM LLC Takes Position in LGI Homes, Inc. $LGIH

Atlas FRM LLC bought a new stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 967,000 shares of the financial services provider's stock, valued at approximately $61,578,560. LGI Homes comprises approximately 0.0% of Atlas FRM LLC's investment portfolio, making the stock its 11th largest position. Atlas FRM LLC owned about 4.16% of LGI Homes at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its holdings in LGI Homes by 75.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider's stock worth $28,000 after buying an additional 237 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in LGI Homes by 106.6% during the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider's stock worth $30,000 after buying an additional 305 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in LGI Homes during the fourth quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new position in LGI Homes during the fourth quarter worth about $32,000. Finally, Rockefeller Capital Management L.P. boosted its position in LGI Homes by 1,759.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider's stock worth $38,000 after purchasing an additional 827 shares during the period. Hedge funds and other institutional investors own 84.89% of the company's stock.

LGI Homes Trading Up 0.9%

LGIH stock opened at $57.50 on Friday. The company has a market capitalization of $1.34 billion, a PE ratio of 20.18 and a beta of 1.83. LGI Homes, Inc. has a one year low of $33.55 and a one year high of $69.50. The company's 50 day moving average price is $59.01 and its two-hundred day moving average price is $50.95. 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 quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. The firm had revenue of $516.05 million for the quarter, compared to the consensus estimate of $489.23 million. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The business's revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LGIH. Wall Street Zen upgraded shares of LGI Homes from a "sell" rating to a "hold" rating in a research report on Sunday, August 16th. Weiss Ratings lowered shares of LGI Homes from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, LGI Homes has a consensus rating of "Hold" and a consensus price target 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.