OneDigital Investment Advisors LLC Buys New Position in LGI Homes, Inc. $LGIH

Key Points

• OneDigital Investment Advisors bought 43,005 shares of LGI Homes valued at approximately $2.74 million, while institutional investors collectively owned 84.89% of the company at quarter-end.
• Analyst sentiment remains mixed: LGI Homes has an average “Hold” rating and a consensus price target of $72.75, with JPMorgan raising its target to $41 while maintaining an “underweight” rating.
• LGI Homes reported quarterly earnings of $1.16 per share, beating estimates of $0.98, while revenue rose 6.7% year over year to $516.05 million. The stock opened at $59.80, compared with a 52-week range of $33.55 to $69.50.

OneDigital Investment Advisors LLC bought a new stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 43,005 shares of the financial services provider's stock, valued at approximately $2,739,000. OneDigital Investment Advisors LLC owned approximately 0.18% of LGI Homes at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LGIH. Global Retirement Partners LLC purchased a new position in shares of LGI Homes during the second quarter valued at approximately $366,000. Bank of New York Mellon Corp purchased a new position in shares of LGI Homes during the 2nd quarter worth $7,625,000. Wasatch Advisors LP lifted its stake in shares of LGI Homes by 16.1% during the 2nd quarter. Wasatch Advisors LP now owns 213,471 shares of the financial services provider's stock worth $13,594,000 after purchasing an additional 29,679 shares during the period. Everhart Financial Group Inc. acquired a new stake in shares of LGI Homes during the second quarter worth $438,000. Finally, GAMMA Investing LLC increased its stake in LGI Homes by 14.7% in the second quarter. GAMMA Investing LLC now owns 2,093 shares of the financial services provider's stock valued at $133,000 after purchasing an additional 269 shares during the last quarter. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LGIH shares. Wall Street Zen upgraded LGI Homes from a "sell" rating to a "hold" rating in a research report on Sunday. Zacks Research raised shares of LGI Homes from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price target on LGI Homes from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded LGI Homes from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, LGI Homes presently has an average rating of "Hold" and a consensus price target of $72.75.

LGI Homes Price Performance

LGI Homes stock opened at $59.80 on Monday. The firm has a fifty day moving average of $58.20 and a 200-day moving average of $50.60. LGI Homes, Inc. has a 52-week low of $33.55 and a 52-week high of $69.50. The company has a quick ratio of 0.61, a current ratio of 17.74 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1.39 billion, a P/E ratio of 20.98 and a beta of 1.83.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The business had revenue of $516.05 million for the quarter, compared to analyst estimates of $489.23 million. During the same quarter in the previous year, the business posted $1.36 EPS. The business's quarterly revenue was up 6.7% on a year-over-year basis.

About LGI Homes

LGI Homes, Inc NASDAQ: LGIH is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.

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