Public Sector Pension Investment Board Purchases 13,968 Shares of LGI Homes, Inc. $LGIH

Public Sector Pension Investment Board grew its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 27.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,649 shares of the financial services provider's stock after purchasing an additional 13,968 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.28% of LGI Homes worth $4,364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LGIH. Sterling Capital Management LLC increased its position in shares of LGI Homes by 801.5% during the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 545 shares during the last quarter. GAMMA Investing LLC increased its position in shares of 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 increased its position in shares of 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. increased its position in shares of 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. increased its position in shares of LGI Homes by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider's stock valued at $195,000 after purchasing an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company's stock.

LGI Homes Price Performance

LGIH stock traded up $6.08 during midday trading on Friday, hitting $68.10. The company's stock had a trading volume of 165,482 shares, compared to its average volume of 329,018. LGI Homes, Inc. has a 12 month low of $47.17 and a 12 month high of $125.83. The company has a quick ratio of 0.64, a current ratio of 18.18 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 10.27 and a beta of 1.69. The company has a 50 day moving average of $55.36 and a two-hundred day moving average of $61.34.

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

Analyst Ratings Changes

LGIH has been the subject of several research reports. Citigroup reaffirmed an "outperform" rating on shares of LGI Homes in a research report on Thursday, August 7th. Wedbush reissued a "neutral" rating and issued a $93.00 target price on shares of LGI Homes in a report on Monday, July 7th. JMP Securities reduced their target price on shares of LGI Homes from $140.00 to $75.00 and set a "market outperform" rating for the company in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of LGI Homes from $52.00 to $47.00 and set an "underweight" rating for the company in a report 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $71.67.

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.