LGI Homes, Inc. $LGIH Stock Holdings Trimmed by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its LGI Homes stake by 53.5% in the second quarter, selling 66,155 shares and retaining 57,406 shares worth approximately $3.66 million. Institutional investors collectively own 84.89% of the company.
• Analyst sentiment is mixed: two analysts rate LGIH a Buy, two a Hold and two a Sell, producing an overall Hold rating with an average price target of $72.75.
• LGI Homes exceeded quarterly expectations, reporting earnings of $1.16 per share versus the $0.98 consensus and revenue of $516.05 million. Revenue increased 6.7% year over year, while the stock opened at $49.42.

Squarepoint Ops LLC lessened its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 53.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 57,406 shares of the financial services provider's stock after selling 66,155 shares during the quarter. Squarepoint Ops LLC owned about 0.25% of LGI Homes worth $3,656,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Royal Bank of Canada raised its stake in shares of 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 valued at $313,000 after purchasing an additional 1,746 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 buying an additional 621 shares in the last quarter. Goldman Sachs Group Inc. grew its position 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 buying an additional 12,524 shares in the last quarter. Russell Investments Group Ltd. increased its stake in LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider's stock valued at $30,000 after buying an additional 305 shares during the period. Finally, Invesco Ltd. increased its stake in LGI Homes by 19.0% during the 2nd quarter. Invesco Ltd. now owns 85,400 shares of the financial services provider's stock valued at $4,400,000 after buying an additional 13,611 shares during the period. Institutional investors own 84.89% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on LGIH shares. Weiss Ratings upgraded shares of LGI Homes from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, September 4th. Wall Street Zen upgraded shares of LGI Homes from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, LGI Homes has an average rating of "Hold" and an average target price of $72.75.

LGI Homes Stock Up 1.5%

NASDAQ LGIH opened at $49.42 on Friday. LGI Homes, Inc. has a 12 month low of $33.55 and a 12 month high of $66.25. The company has a market capitalization of $1.15 billion, a P/E ratio of 17.34 and a beta of 1.84. The company's 50 day simple moving average is $57.37 and its 200 day simple moving average is $50.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 17.74 and a quick ratio of 0.61.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. The firm had revenue of $516.05 million during the quarter, compared to analysts' expectations of $489.23 million. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share.

LGI Homes Profile

LGI Homes, Inc is a residential homebuilder that designs, constructs and sells homes primarily to first-time, move-up and active-adult buyers. The company offers a range of single-family homes, with floor plans and communities designed to provide standardized features, functional layouts and purchase options suited to different household needs.

In addition to home construction and sales, LGI Homes acquires and develops residential land, manages community development activities and provides related customer services.

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