Charles Schwab Investment Management Inc. Increases Stake in LGI Homes, Inc. $LGIH

Key Points

• Charles Schwab Investment Management Inc. increased its stake in LGI Homes by 5.0%, acquiring an additional 19,017 shares during the first quarter, bringing its total holdings to 395,810 shares worth approximately $26.3 million.
• Wall Street analysts have mixed ratings for LGI Homes, with a price target ranging from $47.00 to $140.00, as research firms issue both "market outperform" and "underweight" ratings.
• Despite reporting better-than-expected earnings of $1.36 per share, LGI Homes saw its revenue decline by 19.8% year-over-year, totaling $483.49 million, which was below analyst expectations.

Charles Schwab Investment Management Inc. boosted its stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 395,810 shares of the financial services provider's stock after purchasing an additional 19,017 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.69% of LGI Homes worth $26,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in LGIH. Wells Fargo & Company MN boosted its stake in LGI Homes by 7.7% in the 4th quarter. Wells Fargo & Company MN now owns 28,320 shares of the financial services provider's stock worth $2,532,000 after purchasing an additional 2,013 shares during the period. Invesco Ltd. boosted its stake in LGI Homes by 30.2% in the 4th quarter. Invesco Ltd. now owns 65,168 shares of the financial services provider's stock worth $5,826,000 after purchasing an additional 15,098 shares during the period. Sterling Capital Management LLC boosted its stake in LGI Homes by 801.5% in the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider's stock worth $55,000 after purchasing an additional 545 shares during the period. Summit Investment Advisors Inc. boosted its stake in LGI Homes by 6.9% in the 4th 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 period. Finally, Mariner LLC boosted its position in shares of LGI Homes by 3.2% during the 4th quarter. Mariner LLC now owns 4,581 shares of the financial services provider's stock valued at $410,000 after acquiring an additional 143 shares during the last quarter. Institutional investors own 84.89% of the company's stock.

LGI Homes Trading Down 2.4%

LGI Homes stock traded down $1.59 during trading hours on Tuesday, reaching $63.41. The company had a trading volume of 338,139 shares, compared to its average volume of 438,246. The company has a debt-to-equity ratio of 0.85, a current ratio of 18.18 and a quick ratio of 0.64. The company has a 50-day moving average price of $56.31 and a 200 day moving average price of $60.75. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 9.56 and a beta of 1.69. LGI Homes, Inc. has a 12-month low of $47.17 and a 12-month high of $125.83.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wedbush reiterated a "neutral" rating and set a $93.00 price target on shares of LGI Homes in a research report on Monday, July 7th. Citigroup reiterated an "outperform" rating on shares of LGI Homes in a research report on Thursday, August 7th. JPMorgan Chase & Co. dropped their price target on LGI Homes from $52.00 to $47.00 and set an "underweight" rating for the company in a research report on Wednesday, July 9th. Finally, JMP Securities dropped their price target on LGI Homes from $140.00 to $75.00 and set a "market outperform" rating for the company in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, LGI Homes presently has an average rating of "Hold" and a consensus target price of $71.67.

About LGI Homes

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.