Bank of New York Mellon Corp Has $9.61 Million Position in LGI Homes, Inc. (NASDAQ:LGIH)

Bank of New York Mellon Corp reduced its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,502 shares of the financial services provider's stock after selling 8,609 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of LGI Homes worth $9,605,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Sterling Capital Management LLC grew its holdings in shares of LGI Homes by 801.5% during the fourth quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider's stock worth $55,000 after purchasing an additional 545 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of LGI Homes by 219.1% during the first quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider's stock worth $59,000 after purchasing an additional 609 shares during the last quarter. NBC Securities Inc. boosted its holdings in LGI Homes by 111,600.0% in the first quarter. NBC Securities Inc. now owns 2,234 shares of the financial services provider's stock valued at $148,000 after acquiring an additional 2,232 shares during the last quarter. Summit Investment Advisors Inc. increased its position in LGI Homes by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider's stock worth $195,000 after purchasing an additional 141 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in LGI Homes by 10.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider's stock worth $198,000 after purchasing an additional 212 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LGIH has been the subject of a number of research reports. Wedbush reiterated a "neutral" rating and issued a $93.00 price objective on shares of LGI Homes in a research report on Monday, July 7th. JMP Securities reiterated a "market outperform" rating and issued a $140.00 price objective on shares of LGI Homes in a research report on Wednesday, April 30th. Finally, 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.

LGI Homes Trading Down 1.1%

LGIH traded down $0.65 during midday trading on Friday, reaching $57.58. 265,441 shares of the company were exchanged, compared to its average volume of 385,409. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.54 and a current ratio of 16.58. 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 $1.35 billion, a P/E ratio of 7.43 and a beta of 1.76. The stock's 50-day simple moving average is $52.32 and its 200 day simple moving average is $65.48.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.29). The company had revenue of $351.42 million for the quarter, compared to the consensus estimate of $380.07 million. LGI Homes had a return on equity of 9.49% and a net margin of 8.46%. LGI Homes's quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. As a group, analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

LGI Homes Profile

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.