Dynamic Technology Lab Private Ltd Buys New Shares in LGI Homes, Inc. $LGIH

Key Points

• Dynamic Technology Lab Private Ltd has invested approximately $501,000 in LGI Homes, acquiring 7,538 shares of the company's stock.
• Several hedge funds have increased their holdings in LGI Homes, with institutional investors owning 84.89% of the company's stock.
• Recent analyst ratings for LGI Homes vary, with a consensus rating of "Hold" and an average price target of $75.67, reflecting mixed outlooks for the stock's performance.

Dynamic Technology Lab Private Ltd acquired a new position in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,538 shares of the financial services provider's stock, valued at approximately $501,000.

A number of other institutional investors have also recently modified their holdings of LGIH. CDAM UK Ltd raised its holdings in LGI Homes by 4.4% in the 1st quarter. CDAM UK Ltd now owns 766,210 shares of the financial services provider's stock worth $50,930,000 after purchasing an additional 32,267 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of LGI Homes by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 395,810 shares of the financial services provider's stock worth $26,309,000 after purchasing an additional 19,017 shares during the last quarter. Northern Trust Corp lifted its stake in LGI Homes by 11.5% in the 4th 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. Tributary Capital Management LLC boosted its holdings in LGI Homes by 15.0% in the 1st quarter. Tributary Capital Management LLC now owns 215,556 shares of the financial services provider's stock worth $14,328,000 after buying an additional 28,095 shares during the last quarter. Finally, Millennium Management LLC increased its stake in LGI Homes by 96.5% during the 4th quarter. Millennium Management LLC now owns 115,406 shares of the financial services provider's stock worth $10,317,000 after buying an additional 56,664 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Trading Down 4.1%

Shares of LGIH stock traded down $2.56 during trading on Friday, hitting $60.46. 396,694 shares of the stock traded hands, compared to its average volume of 375,173. LGI Homes, Inc. has a 52-week low of $47.17 and a 52-week high of $125.83. The firm's fifty day moving average price is $59.35 and its 200-day moving average price is $59.07. The firm has a market capitalization of $1.39 billion, a P/E ratio of 9.12 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 18.18 and a quick ratio of 0.64.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $483.49 million during the quarter, compared to the consensus estimate of $546.96 million. LGI Homes had a return on equity of 8.00% and a net margin of 7.63%.The company's quarterly revenue was down 19.8% on a year-over-year basis. During the same period last year, the company earned $2.48 EPS. As a group, research analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JMP Securities lifted their price target on LGI Homes from $75.00 to $85.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 27th. Citigroup restated a "market outperform" rating on shares of LGI Homes in a report on Wednesday, August 27th. Wedbush reaffirmed a "neutral" rating and set a $95.00 target price on shares of LGI Homes in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of LGI Homes from $52.00 to $47.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, LGI Homes has an average rating of "Hold" and a consensus target price of $75.67.

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.