Teza Capital Management LLC Trims Stock Position in LGI Homes, Inc. $LGIH

Key Points

• Teza Capital Management LLC has reduced its stock position in LGI Homes by 40%, selling 4,632 shares to hold a total of 6,943 shares valued at $462,000.
• Other institutional investors, such as Envestnet Portfolio Solutions Inc. and CWM LLC, have increased their stakes in LGI Homes, indicating a mixed sentiment among investors.
• LGI Homes reported $1.36 EPS for the last quarter, exceeding estimates, but its revenue fell 19.8% year-over-year, amounting to $483.49 million.

Teza Capital Management LLC lowered its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 40.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,943 shares of the financial services provider's stock after selling 4,632 shares during the period. Teza Capital Management LLC's holdings in LGI Homes were worth $462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LGIH. Caitong International Asset Management Co. Ltd increased its stake in shares of LGI Homes by 12,620.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 636 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 631 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of LGI Homes by 219.1% in 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of LGI Homes in the 1st quarter valued at about $71,000. CWM LLC increased its stake in shares of LGI Homes by 50.3% in 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 in the last quarter. Finally, NBC Securities Inc. increased its stake in shares of LGI Homes by 111,600.0% in 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 in the last quarter. Hedge funds and other institutional investors own 84.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LGIH shares. JPMorgan Chase & Co. cut their price target on 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 restated a "neutral" rating and issued a $95.00 price target on shares of LGI Homes in a research note on Friday, September 5th. JMP Securities lifted their price target on LGI Homes from $75.00 to $85.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 27th. Finally, Citigroup reiterated a "market outperform" rating on shares of LGI Homes in a research note on Wednesday, August 27th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $75.67.

LGI Homes Price Performance

Shares of LGI Homes stock traded down $2.56 on Friday, hitting $60.46. 396,694 shares of the company were exchanged, compared to its average volume of 375,173. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 9.12 and a beta of 1.75. The company has a 50-day moving average price of $59.35 and a 200 day moving average price of $59.07. LGI Homes, Inc. has a 1-year low of $47.17 and a 1-year 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.

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 for the quarter, topping 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 business's revenue for the quarter was down 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.48 EPS. As a group, sell-side analysts predict that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

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.