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

GAMMA Investing LLC grew its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 21,108.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,959 shares of the financial services provider's stock after purchasing an additional 58,681 shares during the period. GAMMA Investing LLC owned approximately 0.25% of LGI Homes worth $3,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. boosted its holdings in shares of LGI Homes by 6.9% during 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. Mariner LLC lifted its stake in shares of LGI Homes by 3.2% during the fourth quarter. Mariner LLC now owns 4,581 shares of the financial services provider's stock worth $410,000 after purchasing an additional 143 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of LGI Homes by 10.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider's stock worth $198,000 after acquiring an additional 212 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of LGI Homes by 8.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,136 shares of the financial services provider's stock worth $459,000 after acquiring an additional 402 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of LGI Homes by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,881 shares of the financial services provider's stock worth $1,062,000 after acquiring an additional 468 shares during the last quarter. Institutional investors and hedge funds own 84.89% of the company's stock.

LGI Homes Stock Down 4.9%

NASDAQ LGIH traded down $2.54 during trading on Friday, hitting $49.70. 282,607 shares of the company traded hands, compared to its average volume of 253,049. LGI Homes, Inc. has a 12 month low of $47.79 and a 12 month high of $125.83. The business has a fifty day simple moving average of $54.84 and a 200 day simple moving average of $74.33. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.16 billion, a P/E ratio of 5.96 and a beta of 1.77.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its quarterly earnings results 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 net margin of 8.75% and a return on equity of 10.32%. The company's revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, sell-side analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on LGIH shares. JMP Securities reissued a "market outperform" rating and issued a $140.00 price objective on shares of LGI Homes in a report on Wednesday, April 30th. Wedbush reduced their price objective on LGI Homes from $100.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, June 5th.

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.