Raymond James Financial Inc. Cuts Stock Position in LGI Homes, Inc. $LGIH

Key Points

• Raymond James Financial Inc. reduced its stake in LGI Homes by 21.6%, selling 37,524 shares, leaving them with 135,932 shares valued at approximately $9,035,000.
• Despite this downsizing, institutional investors hold 84.89% of LGI Homes shares, with several large firms increasing their positions during the last quarter.
• Analysts maintain a mixed outlook on LGI Homes, with an average rating of "Hold" and a consensus target price of $75.00, following varied assessments from firms including Citigroup and JPMorgan Chase & Co.

Raymond James Financial Inc. reduced its holdings in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 21.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 135,932 shares of the financial services provider's stock after selling 37,524 shares during the period. Raymond James Financial Inc. owned about 0.58% of LGI Homes worth $9,035,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Pinnacle Holdings LLC boosted its stake in shares of LGI Homes by 18.9% in the first quarter. Pinnacle Holdings LLC now owns 10,190 shares of the financial services provider's stock worth $677,000 after acquiring an additional 1,619 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of LGI Homes by 10.2% in the first quarter. American Century Companies Inc. now owns 44,740 shares of the financial services provider's stock worth $2,974,000 after acquiring an additional 4,157 shares during the last quarter. English Capital Management LLC boosted its stake in shares of LGI Homes by 41.6% in the first quarter. English Capital Management LLC now owns 50,760 shares of the financial services provider's stock worth $3,374,000 after acquiring an additional 14,900 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of LGI Homes by 12,620.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 636 shares of the financial services provider's stock worth $42,000 after acquiring an additional 631 shares during the last quarter. Finally, LGT Fund Management Co Ltd. boosted its stake in shares of LGI Homes by 11.2% in the first quarter. LGT Fund Management Co Ltd. now owns 76,177 shares of the financial services provider's stock worth $5,063,000 after acquiring an additional 7,678 shares during the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

LGI Homes Trading Up 4.2%

NASDAQ:LGIH traded up $2.63 on Thursday, reaching $65.26. The company's stock had a trading volume of 155,057 shares, compared to its average volume of 335,009. 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 cap of $1.50 billion, a price-to-earnings ratio of 9.84 and a beta of 1.75. The stock has a 50 day moving average price of $57.92 and a 200 day moving average price of $59.98.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LGIH. Wedbush reaffirmed a "neutral" rating and issued a $93.00 price target on shares of LGI Homes in a research note on Monday, July 7th. JPMorgan Chase & Co. lowered their price target 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. Citigroup reaffirmed a "market outperform" rating on shares of LGI Homes in a research note on Wednesday, August 27th. Finally, JMP Securities lifted their price target on LGI Homes from $75.00 to $85.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 27th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.