LGI Homes, Inc. $LGIH Shares Bought by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. increased its stake in LGI Homes, Inc. by 6.4%, owning 81,081 shares valued at approximately $4.18 million.
• LGI Homes reported $1.36 earnings per share (EPS), exceeding analyst estimates of $1.21, despite experiencing a 19.8% drop in revenue year over year.
• Institutional investors own 84.89% of LGI Homes' stock, indicating strong support from the investment community.

LGT Fund Management Co Ltd. grew its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 6.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,081 shares of the financial services provider's stock after purchasing an additional 4,904 shares during the period. LGT Fund Management Co Ltd. owned 0.35% of LGI Homes worth $4,177,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LGIH. GAMMA Investing LLC grew its position in shares of LGI Homes by 21,108.3% during the first quarter. GAMMA Investing LLC now owns 58,959 shares of the financial services provider's stock worth $3,919,000 after acquiring an additional 58,681 shares during the last quarter. NBC Securities Inc. grew its position in shares of LGI Homes by 111,600.0% during the first 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 during the last quarter. SG Americas Securities LLC grew its position in shares of LGI Homes by 134.0% during the first quarter. SG Americas Securities LLC now owns 4,477 shares of the financial services provider's stock worth $298,000 after acquiring an additional 2,564 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of LGI Homes by 34.8% during the first quarter. Handelsbanken Fonder AB now owns 10,065 shares of the financial services provider's stock worth $669,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of LGI Homes by 213.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,234 shares of the financial services provider's stock worth $680,000 after acquiring an additional 6,970 shares during the last quarter. Institutional investors own 84.89% of the company's stock.

LGI Homes Stock Performance

Shares of LGIH opened at $53.17 on Friday. The firm has a 50-day moving average price of $59.37 and a 200 day moving average price of $57.26. The firm has a market capitalization of $1.23 billion, a PE ratio of 8.02 and a beta of 1.77. 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, Inc. has a 52-week low of $47.17 and a 52-week high of $118.31.

LGI Homes (NASDAQ:LGIH - Get Free Report) last announced its earnings results 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 firm had revenue of $483.49 million during 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%. LGI Homes's revenue was down 19.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.48 EPS. On average, sell-side analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup restated a "market outperform" rating on shares of LGI Homes in a research report on Wednesday, August 27th. JPMorgan Chase & Co. lowered their price target on shares of LGI Homes from $52.00 to $47.00 and set an "underweight" rating for the company in a research report on Wednesday, July 9th. Weiss Ratings restated a "sell (d+)" rating on shares of LGI Homes in a research report on Saturday, September 27th. Wedbush restated a "neutral" rating and set a $95.00 price target on shares of LGI Homes in a research report on Friday, September 5th. Finally, JMP Securities increased their target price on shares of LGI Homes from $75.00 to $85.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, LGI Homes currently has a consensus rating of "Hold" and an average target price of $75.67.

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.

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