Petrus Trust Company LTA Purchases Shares of 7,287 LGI Homes, Inc. $LGIH

Key Points

• Petrus Trust Company LTA acquired a new stake in LGI Homes, Inc. by purchasing 7,287 shares valued at approximately $484,000 in the first quarter.
• LGI Homes reported an earnings per share of $1.36 for the last quarter, surpassing the consensus estimate of $1.21, but experienced a 19.8% year-over-year revenue decline.
• The stock currently has a market cap of $1.55 billion with a consensus rating of "Hold" from analysts and an average price target of $75.67.

Petrus Trust Company LTA purchased a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,287 shares of the financial services provider's stock, valued at approximately $484,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of LGI Homes during the first quarter worth $5,123,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of LGI Homes by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider's stock worth $831,000 after buying an additional 621 shares during the period. Royal Bank of Canada boosted its position 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 worth $313,000 after buying an additional 1,746 shares during the period. B. Metzler seel. Sohn & Co. AG boosted its position in shares of LGI Homes by 10.5% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 11,926 shares of the financial services provider's stock worth $793,000 after buying an additional 1,136 shares during the period. Finally, Rafferty Asset Management LLC boosted its position in shares of LGI Homes by 5.3% during the first quarter. Rafferty Asset Management LLC now owns 14,727 shares of the financial services provider's stock worth $979,000 after buying an additional 736 shares during the period. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

LGI Homes Stock Down 3.1%

Shares of NASDAQ LGIH traded down $1.94 during mid-day trading on Friday, hitting $61.08. The company had a trading volume of 147,891 shares, compared to its average volume of 336,093. The company has a market capitalization of $1.41 billion, a PE ratio of 9.23 and a beta of 1.75. 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 1-year low of $47.17 and a 1-year high of $125.83. The business's 50-day simple moving average is $59.24 and its 200 day simple moving average is $59.30.

LGI Homes (NASDAQ:LGIH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.15. The business had revenue of $483.49 million for the quarter, compared to analysts' expectations of $546.96 million. LGI Homes had a return on equity of 8.00% and a net margin of 7.63%.The company's revenue for the quarter was down 19.8% compared to the same quarter last year. During the same period last year, the firm earned $2.48 earnings per share. On average, analysts predict that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup restated a "market outperform" rating on shares of LGI Homes in a research report on Wednesday, August 27th. JMP Securities raised their price target on LGI Homes from $75.00 to $85.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 27th. Wedbush reiterated a "neutral" rating and issued a $95.00 price objective on shares of LGI Homes in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LGI Homes has a consensus rating of "Hold" and an average target price of $75.67.

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.