Atlas FRM LLC bought a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 967,000 shares of the financial services provider's stock, valued at approximately $61,578,560,000. LGI Homes accounts for about 2.6% of Atlas FRM LLC's holdings, making the stock its 11th largest position. Atlas FRM LLC owned about 4.16% of LGI Homes at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Holdings LLC acquired a new position in LGI Homes during the 2nd quarter worth $937,000. Quantbot Technologies LP purchased a new stake in LGI Homes during the 2nd quarter worth about $1,973,000. Allworth Financial LP acquired a new stake in LGI Homes in the 2nd quarter valued at about $56,000. BlackRock Inc. acquired a new stake in LGI Homes in the 2nd quarter valued at about $226,799,000. Finally, Deutsche Bank AG purchased a new position in shares of LGI Homes in the 2nd quarter valued at about $3,002,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.
LGI Homes Stock Performance
NASDAQ:LGIH opened at $58.16 on Monday. The stock has a 50-day simple moving average of $58.68 and a 200-day simple moving average of $50.88. The stock has a market cap of $1.35 billion, a P/E ratio of 20.41 and a beta of 1.83. LGI Homes, Inc. has a 1 year low of $33.55 and a 1 year 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 issued its earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. The business had revenue of $516.05 million for the quarter, compared to analyst estimates of $489.23 million. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%.The business's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $1.36 EPS.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on LGI Homes from $38.00 to $41.00 and gave the stock an "underweight" rating in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of LGI Homes from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Finally, Weiss Ratings downgraded shares of LGI Homes from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $72.75.
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About LGI Homes
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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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