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

Bank of New York Mellon Corp cut its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 5.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 144,502 shares of the financial services provider's stock after selling 8,609 shares during the period. Bank of New York Mellon Corp owned about 0.62% of LGI Homes worth $9,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in LGI Homes by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 2,274,907 shares of the financial services provider's stock valued at $203,377,000 after purchasing an additional 54,039 shares in the last quarter. Dimensional Fund Advisors LP grew its position in LGI Homes by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,504,384 shares of the financial services provider's stock worth $134,491,000 after acquiring an additional 6,706 shares in the last quarter. Wasatch Advisors LP grew its position in LGI Homes by 2.7% in the fourth quarter. Wasatch Advisors LP now owns 1,395,710 shares of the financial services provider's stock worth $124,776,000 after acquiring an additional 36,608 shares in the last quarter. Khrom Capital Management LLC grew its position in LGI Homes by 19.4% in the fourth quarter. Khrom Capital Management LLC now owns 1,095,801 shares of the financial services provider's stock worth $97,965,000 after acquiring an additional 177,698 shares in the last quarter. Finally, CDAM UK Ltd grew its position in LGI Homes by 2.7% in the fourth quarter. CDAM UK Ltd now owns 733,943 shares of the financial services provider's stock worth $65,615,000 after acquiring an additional 19,048 shares in the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Stock Performance

Shares of NASDAQ LGIH traded down $1.40 during trading hours on Friday, hitting $56.83. 37,077 shares of the stock were exchanged, compared to its average volume of 316,715. The company has a debt-to-equity ratio of 0.80, a current ratio of 16.58 and a quick ratio of 0.54. The company's 50 day moving average is $52.32 and its 200 day moving average is $65.48. The firm has a market capitalization of $1.33 billion, a P/E ratio of 7.33 and a beta of 1.76. LGI Homes, Inc. has a one year low of $47.17 and a one year high of $125.83.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.29). The firm 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 period in the prior year, the company posted $0.72 earnings per share. On average, research analysts expect that LGI Homes, Inc. will post 8.46 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on LGIH shares. JMP Securities reissued a "market outperform" rating and issued a $140.00 target price on shares of LGI Homes in a research report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their target price on shares of 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, Wedbush reissued a "neutral" rating and issued a $93.00 target price on shares of LGI Homes in a research report on Monday, July 7th.

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.