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

Public Sector Pension Investment Board lifted its stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 27.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,649 shares of the financial services provider's stock after buying an additional 13,968 shares during the period. Public Sector Pension Investment Board owned about 0.28% of LGI Homes worth $4,364,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LGIH. Khrom Capital Management LLC lifted its stake in shares of LGI Homes by 19.4% in the fourth quarter. Khrom Capital Management LLC now owns 1,095,801 shares of the financial services provider's stock valued at $97,965,000 after buying an additional 177,698 shares during the period. Raymond James Financial Inc. bought a new position in LGI Homes during the fourth quarter worth about $15,507,000. Nuveen LLC bought a new position in LGI Homes during the first quarter worth about $4,313,000. GAMMA Investing LLC lifted its stake in LGI Homes by 21,108.3% during the first quarter. GAMMA Investing LLC now owns 58,959 shares of the financial services provider's stock worth $3,919,000 after purchasing an additional 58,681 shares during the period. Finally, Millennium Management LLC lifted its stake in LGI Homes by 96.5% during the fourth quarter. Millennium Management LLC now owns 115,406 shares of the financial services provider's stock worth $10,317,000 after purchasing an additional 56,664 shares during the period. Institutional investors own 84.89% of the company's stock.

LGI Homes Trading Up 0.8%

LGIH opened at $65.53 on Monday. The stock has a market capitalization of $1.51 billion, a P/E ratio of 9.88 and a beta of 1.69. LGI Homes, Inc. has a 12 month low of $47.17 and a 12 month high of $125.83. The firm's fifty day simple moving average is $54.41 and its 200 day simple moving average is $61.62. The company has a current ratio of 18.18, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85.

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

Analyst Ratings Changes

A number of research analysts have commented on LGIH shares. Citigroup restated an "outperform" rating on shares of LGI Homes in a research note on Thursday, August 7th. JPMorgan Chase & Co. cut their target price on shares of LGI Homes from $52.00 to $47.00 and set an "underweight" rating for the company in a research note on Wednesday, July 9th. Wedbush reiterated a "neutral" rating and issued a $93.00 target price on shares of LGI Homes in a research note on Monday, July 7th. Finally, JMP Securities cut 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 research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, LGI Homes presently has a consensus rating of "Hold" and an average price target of $71.67.

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.

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