MQS Management LLC Invests $386,000 in LGI Homes, Inc. (NASDAQ:LGIH)

MQS Management LLC acquired a new stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,808 shares of the financial services provider's stock, valued at approximately $386,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its stake in LGI Homes by 50.3% in 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. Envestnet Asset Management Inc. raised its stake in LGI Homes by 17.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 33,187 shares of the financial services provider's stock valued at $2,206,000 after purchasing an additional 4,958 shares during the last quarter. Principal Financial Group Inc. raised its stake in LGI Homes by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 103,084 shares of the financial services provider's stock valued at $6,852,000 after purchasing an additional 2,675 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in LGI Homes in the 1st quarter valued at $206,000. Finally, Envestnet Portfolio Solutions Inc. raised its stake in LGI Homes by 8.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,023 shares of the financial services provider's stock valued at $201,000 after purchasing an additional 245 shares during the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on LGIH. JPMorgan Chase & Co. cut their target price on LGI Homes from $52.00 to $47.00 and set an "underweight" rating for the company in a research note on Wednesday, July 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 target price on shares of LGI Homes in a research note on Wednesday, April 30th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $93.00 target price on shares of LGI Homes in a research note on Monday, July 7th.

LGI Homes Trading Up 1.5%

Shares of LGIH traded up $0.79 during midday trading on Thursday, reaching $52.30. The company had a trading volume of 210,949 shares, compared to its average volume of 261,517. The firm has a 50 day simple moving average of $52.51 and a 200-day simple moving average of $66.59. The company has a quick ratio of 0.54, a current ratio of 16.58 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.22 billion, a PE ratio of 6.75 and a beta of 1.76. LGI Homes, Inc. has a 1-year low of $47.17 and a 1-year high of $125.83.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.29). The business had revenue of $351.42 million for the quarter, compared to analyst estimates of $380.07 million. LGI Homes had a return on equity of 9.49% and a net margin of 8.46%. The firm's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. Research analysts forecast that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

LGI Homes Profile

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.