Quantbot Technologies LP Takes $1.99 Million Position in LGI Homes, Inc. $LGIH

Key Points

• Quantbot Technologies LP has invested approximately $1.99 million in LGI Homes, acquiring 30,002 shares, representing about 0.13% of the company's outstanding stock.
• LGI Homes reported earnings of $1.36 per share for the quarter, exceeding analyst expectations, but its revenue fell 19.8% year-over-year to $483.49 million.
• Despite mixed analyst ratings, LGI Homes currently has a consensus rating of "Hold" with an average price target of $71.67, indicating cautious optimism among researchers.

Quantbot Technologies LP bought a new stake in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,002 shares of the financial services provider's stock, valued at approximately $1,994,000. Quantbot Technologies LP owned approximately 0.13% of LGI Homes at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in LGI Homes by 7.7% during the fourth quarter. Wells Fargo & Company MN now owns 28,320 shares of the financial services provider's stock valued at $2,532,000 after purchasing an additional 2,013 shares during the last quarter. Invesco Ltd. grew its position in LGI Homes by 30.2% during the 4th quarter. Invesco Ltd. now owns 65,168 shares of the financial services provider's stock worth $5,826,000 after acquiring an additional 15,098 shares during the last quarter. Sterling Capital Management LLC grew its position in LGI Homes by 801.5% during the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider's stock worth $55,000 after acquiring an additional 545 shares during the last quarter. Mariner LLC grew its position in shares of LGI Homes by 3.2% in the 4th quarter. Mariner LLC now owns 4,581 shares of the financial services provider's stock valued at $410,000 after buying an additional 143 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of LGI Homes by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,504,384 shares of the financial services provider's stock valued at $134,491,000 after purchasing an additional 6,706 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Performance

LGIH stock traded down $0.74 during mid-day trading on Wednesday, reaching $62.67. 93,801 shares of the stock traded hands, compared to its average volume of 331,667. LGI Homes, Inc. has a 52 week low of $47.17 and a 52 week high of $125.83. The firm has a market capitalization of $1.45 billion, a PE ratio of 9.48 and a beta of 1.69. 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 business has a 50-day moving average of $56.31 and a two-hundred day moving average of $60.75.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its earnings results 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. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. The company had revenue of $483.49 million for the quarter, compared to analyst estimates of $546.96 million. During the same quarter last year, the firm earned $2.48 EPS. The company's revenue for the quarter was down 19.8% on a year-over-year basis. As a group, equities analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Analyst Ratings Changes

LGIH has been the subject of several research reports. Citigroup reissued a "market outperform" rating on shares of LGI Homes in a report on Wednesday. JMP Securities boosted their price objective on shares of LGI Homes from $75.00 to $85.00 and gave the company a "market outperform" rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of LGI Homes from $52.00 to $47.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 9th. Finally, Wedbush reaffirmed a "neutral" rating and set a $93.00 price target on shares of LGI Homes in a research report on Monday, July 7th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, LGI Homes presently has an average rating of "Hold" and a consensus target price of $75.00.

LGI Homes Company 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.