GAMMA Investing LLC Acquires 58,681 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

GAMMA Investing LLC grew its stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 21,108.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,959 shares of the financial services provider's stock after purchasing an additional 58,681 shares during the quarter. GAMMA Investing LLC owned about 0.25% of LGI Homes worth $3,919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. River Road Asset Management LLC lifted its holdings in shares of LGI Homes by 30.6% during the 4th quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider's stock valued at $81,168,000 after purchasing an additional 212,468 shares in the last quarter. Khrom Capital Management LLC increased its position in shares of LGI Homes by 19.4% during 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. Raymond James Financial Inc. acquired a new stake in shares of LGI Homes during the fourth quarter worth $15,507,000. Millennium Management LLC boosted its stake in LGI Homes by 96.5% in the 4th quarter. Millennium Management LLC now owns 115,406 shares of the financial services provider's stock worth $10,317,000 after purchasing an additional 56,664 shares during the period. Finally, Vanguard Group Inc. increased its holdings in LGI Homes by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 2,274,907 shares of the financial services provider's stock worth $203,377,000 after purchasing an additional 54,039 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LGIH has been the topic of several research reports. Wedbush cut their target price on LGI Homes from $100.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, June 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 target price on shares of LGI Homes in a research report on Wednesday, April 30th.

LGI Homes Stock Performance

Shares of LGIH traded down $0.30 during midday trading on Thursday, reaching $52.24. 246,450 shares of the stock were exchanged, compared to its average volume of 252,587. The stock's 50 day simple moving average is $55.19 and its 200 day simple moving average is $75.39. The company has a market cap of $1.22 billion, a P/E ratio of 6.26 and a beta of 1.77. LGI Homes, Inc. has a twelve month low of $47.79 and a twelve month high of $125.83. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.29). LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business had revenue of $351.42 million during the quarter, compared to analyst estimates of $380.07 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The firm's quarterly revenue was down 10.1% on a year-over-year basis. On average, sell-side analysts expect that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

LGI Homes Company 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.