Envestnet Asset Management Inc. Grows Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Envestnet Asset Management Inc. raised its position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 17.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,187 shares of the financial services provider's stock after acquiring an additional 4,958 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of LGI Homes worth $2,206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LGIH. Sterling Capital Management LLC raised its position in LGI Homes by 801.5% during the fourth quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 545 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of LGI Homes by 219.1% in 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. Summit Investment Advisors Inc. grew its stake in shares of 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 last quarter. Tower Research Capital LLC TRC grew its stake in shares of 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 last quarter. Finally, NBC Securities Inc. boosted its position in LGI Homes by 111,600.0% during 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. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on LGIH shares. JPMorgan Chase & Co. reduced their target price on LGI Homes from $52.00 to $47.00 and set an "underweight" rating for the company in a research note on Wednesday, July 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 price target on shares of LGI Homes in a research report on Wednesday, April 30th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $93.00 price target on shares of LGI Homes in a research report on Monday, July 7th.

LGI Homes Stock Performance

Shares of LGI Homes stock traded up $1.21 during mid-day trading on Friday, hitting $54.48. 418,714 shares of the stock were exchanged, compared to its average volume of 319,591. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.54 and a current ratio of 16.58. The company has a market capitalization of $1.28 billion, a P/E ratio of 7.03 and a beta of 1.76. The company has a 50-day simple moving average of $52.41 and a 200 day simple moving average of $64.48. LGI Homes, Inc. has a 12 month low of $47.17 and a 12 month high of $125.83.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.29). LGI Homes had a return on equity of 9.49% and a net margin of 8.46%. The company had revenue of $351.42 million during the quarter, compared to the consensus estimate of $380.07 million. During the same period last year, the firm posted $0.72 EPS. The company's revenue for the quarter was down 10.1% compared to the same quarter last year. Sell-side analysts anticipate 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.