LGI Homes, Inc. $LGIH Holdings Increased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in LGI Homes by 10.2% during Q1, owning approximately 0.19% of the company worth $2,974,000 after acquiring an additional 4,157 shares.
• LGI Homes reported $1.36 earnings per share for the last quarter, exceeding analysts' expectations, despite a 19.8% decline in revenue compared to the previous year.
• Analysts have mixed ratings on LGI Homes with two Buy ratings, two Hold ratings, and one Sell rating, and a consensus target price of $75.00 for the stock.

American Century Companies Inc. grew its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,740 shares of the financial services provider's stock after acquiring an additional 4,157 shares during the period. American Century Companies Inc. owned about 0.19% of LGI Homes worth $2,974,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its holdings in LGI Homes by 12,620.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 636 shares of the financial services provider's stock worth $42,000 after acquiring an additional 631 shares in the last quarter. GAMMA Investing LLC grew its holdings in LGI Homes by 219.1% during the 1st quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider's stock worth $59,000 after acquiring an additional 609 shares in the last quarter. CWM LLC grew its holdings in LGI Homes by 50.3% during the 1st quarter. CWM LLC now owns 1,178 shares of the financial services provider's stock worth $78,000 after acquiring an additional 394 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in LGI Homes by 10.6% during the 4th 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 in the last quarter. Finally, NBC Securities Inc. grew its holdings in LGI Homes by 111,600.0% during the 1st quarter. NBC Securities Inc. now owns 2,234 shares of the financial services provider's stock worth $148,000 after acquiring an additional 2,232 shares in the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of LGI Homes from $52.00 to $47.00 and set an "underweight" rating for the company in a report on Wednesday, July 9th. Citigroup reissued a "market outperform" rating on shares of LGI Homes in a report on Wednesday, August 27th. JMP Securities lifted their price target on shares of LGI Homes from $75.00 to $85.00 and gave the company a "market outperform" rating in a report on Wednesday, August 27th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $93.00 price target on shares of LGI Homes in a report on Monday, July 7th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $75.00.

LGI Homes Stock Performance

NASDAQ:LGIH traded up $2.63 during mid-day trading on Thursday, hitting $65.26. The stock had a trading volume of 155,057 shares, compared to its average volume of 335,009. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 9.84 and a beta of 1.75. The company has a 50 day simple moving average of $57.92 and a 200-day simple moving average of $59.98. LGI Homes, Inc. has a 52 week low of $47.17 and a 52 week high of $125.83. The company has a current ratio of 18.18, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85.

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 for the quarter, beating the consensus estimate of $1.21 by $0.15. The firm had revenue of $483.49 million for the quarter, compared to the consensus estimate of $546.96 million. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. LGI Homes's quarterly revenue was down 19.8% compared to the same quarter last year. During the same period last year, the firm posted $2.48 EPS. On average, research analysts expect that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal 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.