LGI Homes, Inc. $LGIH Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp sharply increased its stake in LGI Homes in the first quarter, boosting its holdings by 44,577.3% to 39,316 shares worth about $1.55 million.
• LGI Homes reported Q1 EPS of $0.24, beating analyst expectations, though revenue of $319.74 million came in below estimates and was down 9% year over year.
• Analyst sentiment remains mixed: the stock has a consensus rating of “Hold” with an average price target of $72.75, while shares recently traded at $58.33.

Fifth Third Bancorp boosted its position in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 44,577.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,316 shares of the financial services provider's stock after purchasing an additional 39,228 shares during the quarter. Fifth Third Bancorp owned about 0.17% of LGI Homes worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in LGI Homes by 58.7% during the first quarter. Royal Bank of Canada now owns 4,721 shares of the financial services provider's stock worth $313,000 after acquiring an additional 1,746 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in LGI Homes by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider's stock valued at $831,000 after acquiring an additional 621 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in LGI Homes by 5.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider's stock valued at $16,627,000 after acquiring an additional 12,524 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in LGI Homes by 106.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 305 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of LGI Homes by 19.0% during the 2nd quarter. Invesco Ltd. now owns 85,400 shares of the financial services provider's stock worth $4,400,000 after purchasing an additional 13,611 shares during the period. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

LGI Homes Stock Performance

NASDAQ:LGIH opened at $58.33 on Friday. The firm has a 50-day moving average of $54.30 and a two-hundred day moving average of $49.71. The company has a debt-to-equity ratio of 0.81, a current ratio of 18.56 and a quick ratio of 0.70. The stock has a market cap of $1.36 billion, a P/E ratio of 19.12 and a beta of 1.82. LGI Homes, Inc. has a 1-year low of $33.55 and a 1-year high of $69.50.

LGI Homes (NASDAQ:LGIH - Get Free Report) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.22. The company had revenue of $319.74 million for the quarter, compared to analyst estimates of $328.22 million. LGI Homes had a return on equity of 3.80% and a net margin of 4.22%.LGI Homes's quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LGIH shares. Wall Street Zen upgraded LGI Homes from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Zacks Research upgraded LGI Homes from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a "sell (d)" rating on shares of LGI Homes in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the stock an "underweight" rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, LGI Homes has an average rating of "Hold" and a consensus target price of $72.75.

LGI Homes Company Profile

LGI Homes, Inc NASDAQ: LGIH is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.

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