LGT Fund Management Co Ltd. raised its position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 11.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,177 shares of the financial services provider's stock after purchasing an additional 7,678 shares during the period. LGT Fund Management Co Ltd. owned about 0.33% of LGI Homes worth $5,063,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC raised its position in shares of 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 acquiring an additional 545 shares in the last quarter. GAMMA Investing LLC grew its stake in LGI Homes by 219.1% during the 1st quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 609 shares during the last quarter. CWM LLC grew its stake in LGI Homes by 50.3% during the 1st quarter. CWM LLC now owns 1,178 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 394 shares during the last quarter. NBC Securities Inc. grew its stake 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 valued at $148,000 after purchasing an additional 2,232 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of LGI Homes by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider's stock worth $195,000 after buying an additional 141 shares during the last quarter. 84.89% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently commented on LGIH shares. JPMorgan Chase & Co. lowered their target price on LGI Homes from $52.00 to $47.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 9th. JMP Securities lowered their target price on LGI Homes from $140.00 to $75.00 and set a "market outperform" rating on the stock in a research note on Thursday, August 7th. Wedbush restated a "neutral" rating and issued a $93.00 target price on shares of LGI Homes in a research note on Monday, July 7th. Finally, Citigroup restated an "outperform" rating on shares of LGI Homes in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, LGI Homes currently has a consensus rating of "Hold" and a consensus target price of $71.67.
Check Out Our Latest Stock Analysis on LGI Homes
LGI Homes Price Performance
LGIH stock traded up $0.51 during mid-day trading on Friday, reaching $65.53. 551,112 shares of the company's stock were exchanged, compared to its average volume of 428,629. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 9.88 and a beta of 1.69. The stock's 50 day moving average is $54.41 and its 200 day moving average is $62.03. The company has a debt-to-equity ratio of 0.85, a current ratio of 18.18 and a quick ratio of 0.64. 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 issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.15. The company had revenue of $483.49 million for the quarter, compared to the consensus estimate of $546.96 million. LGI Homes had a return on equity of 8.00% and a net margin of 7.63%. LGI Homes's revenue for the quarter was down 19.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.48 earnings per share. On average, research analysts expect that LGI Homes, Inc. will post 8.46 EPS for the current year.
About LGI Homes
(
Free Report)
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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