Millennium Management LLC Grows Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Millennium Management LLC raised its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 96.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,406 shares of the financial services provider's stock after purchasing an additional 56,664 shares during the quarter. Millennium Management LLC owned 0.49% of LGI Homes worth $10,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of LGI Homes by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 2,274,907 shares of the financial services provider's stock worth $203,377,000 after acquiring an additional 54,039 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of LGI Homes by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,504,384 shares of the financial services provider's stock worth $134,491,000 after acquiring an additional 6,706 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of LGI Homes by 2.7% in the 4th quarter. Wasatch Advisors LP now owns 1,395,710 shares of the financial services provider's stock worth $124,776,000 after acquiring an additional 36,608 shares during the last quarter. Khrom Capital Management LLC lifted its holdings in shares of LGI Homes by 19.4% in the 4th quarter. Khrom Capital Management LLC now owns 1,095,801 shares of the financial services provider's stock worth $97,965,000 after acquiring an additional 177,698 shares during the last quarter. Finally, River Road Asset Management LLC lifted its holdings in shares of LGI Homes by 30.6% in the 4th quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider's stock worth $81,168,000 after acquiring an additional 212,468 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Trading Down 0.1%

NASDAQ:LGIH traded down $0.08 during midday trading on Thursday, reaching $50.84. 25,244 shares of the stock traded hands, compared to its average volume of 295,355. The company has a fifty day moving average of $58.52 and a 200 day moving average of $79.06. LGI Homes, Inc. has a 12 month low of $50.49 and a 12 month high of $125.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The stock has a market capitalization of $1.19 billion, a P/E ratio of 6.10 and a beta of 1.93.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.29). LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company had revenue of $351.42 million during the quarter, compared to the consensus estimate of $380.07 million. During the same quarter last year, the company posted $0.72 earnings per share. The firm's revenue for the quarter was down 10.1% compared to the same quarter last year. On average, research analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current year.

Insiders Place Their Bets

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $75.94, for a total value of $83,913.70. Following the completion of the transaction, the chief operating officer now directly owns 27,102 shares in the company, valued at approximately $2,058,125.88. This represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.30% of the company's stock.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a "market outperform" rating and set a $140.00 price target on shares of LGI Homes in a report on Wednesday, April 30th.

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.