LGI Homes, Inc. $LGIH Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its holdings in LGI Homes by 10.2%, owning 71,789 shares valued at approximately $4.77 million as of the end of the first quarter.
• LGI Homes' stock has received mixed responses from analysts, with price targets ranging from $47 to $93 and a current average rating of "Hold".
• Despite reporting lower revenue down 19.8% year-over-year, LGI Homes exceeded earnings expectations with $1.36 EPS, surpassing the consensus estimate by $0.15.

Invesco Ltd. boosted its holdings in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 10.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,789 shares of the financial services provider's stock after acquiring an additional 6,621 shares during the period. Invesco Ltd. owned 0.31% of LGI Homes worth $4,772,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in LGI Homes by 219.1% in the 1st quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 609 shares during the last quarter. CWM LLC lifted its holdings in LGI Homes by 50.3% in the 1st quarter. CWM LLC now owns 1,178 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 394 shares in the last quarter. NBC Securities Inc. lifted its holdings in LGI Homes by 111,600.0% in the 1st quarter. NBC Securities Inc. now owns 2,234 shares of the financial services provider's stock valued at $148,000 after purchasing an additional 2,232 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in LGI Homes by 10.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider's stock valued at $198,000 after purchasing an additional 212 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in LGI Homes by 8.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,023 shares of the financial services provider's stock valued at $201,000 after purchasing an additional 245 shares in the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JMP Securities upped their target price on shares of LGI Homes from $75.00 to $85.00 and gave the company a "market outperform" rating in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on LGI Homes from $52.00 to $47.00 and set an "underweight" rating on the stock in a report on Wednesday, July 9th. Citigroup reiterated a "market outperform" rating on shares of LGI Homes in a research report on Wednesday. Finally, Wedbush reaffirmed a "neutral" rating and set a $93.00 price objective on shares of LGI Homes in a research note on Monday, July 7th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, LGI Homes currently has an average rating of "Hold" and an average price target of $75.00.

LGI Homes Stock Down 1.0%

Shares of LGIH traded down $0.63 during mid-day trading on Friday, reaching $61.91. 429,433 shares of the stock traded hands, compared to its average volume of 443,096. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 9.34 and a beta of 1.69. The stock has a fifty day simple moving average of $57.21 and a 200 day simple moving average of $60.45. LGI Homes, Inc. has a 12-month low of $47.17 and a 12-month high of $125.83. The company has a quick ratio of 0.64, a current ratio of 18.18 and a debt-to-equity ratio of 0.85.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.15. The company had revenue of $483.49 million for the quarter, compared to analyst estimates of $546.96 million. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. The business's quarterly revenue was down 19.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.48 earnings per share. Sell-side analysts expect that LGI Homes, Inc. will post 8.46 EPS 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.