Freestone Grove Partners LP Takes Position in LGI Homes, Inc. (NASDAQ:LGIH)

Freestone Grove Partners LP acquired a new stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,959 shares of the financial services provider's stock, valued at approximately $443,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in LGI Homes by 131.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider's stock worth $13,222,000 after acquiring an additional 63,346 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of LGI Homes by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 2,274,907 shares of the financial services provider's stock worth $203,377,000 after purchasing an additional 54,039 shares during the last quarter. River Road Asset Management LLC increased its stake in shares of LGI Homes by 30.6% in the fourth quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider's stock valued at $81,168,000 after buying an additional 212,468 shares during the period. Raymond James Financial Inc. bought a new position in LGI Homes in the 4th quarter valued at approximately $15,507,000. Finally, Charles Schwab Investment Management Inc. boosted its position in LGI Homes by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,793 shares of the financial services provider's stock worth $33,685,000 after buying an additional 27,652 shares during the period. Institutional investors and hedge funds own 84.89% of the company's stock.

Insiders Place Their Bets

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $75.94, for a total value of $83,913.70. Following the transaction, the chief operating officer now directly owns 27,102 shares of the company's stock, valued at approximately $2,058,125.88. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.30% of the company's stock.

LGI Homes Trading Down 0.4 %

LGIH traded down $0.21 during trading on Friday, reaching $55.42. 91,006 shares of the stock traded hands, compared to its average volume of 239,525. The stock's 50-day moving average is $63.51 and its 200 day moving average is $83.89. LGI Homes, Inc. has a 12 month low of $52.48 and a 12 month high of $125.83. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $1.30 billion, a PE ratio of 6.65 and a beta of 1.93.

LGI Homes (NASDAQ:LGIH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.29). The business had revenue of $351.42 million during the quarter, compared to analyst estimates of $380.07 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. LGI Homes's quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. Equities analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Seaport Res Ptn upgraded shares of LGI Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. lowered their target price on LGI Homes from $82.00 to $80.00 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $140.00 price target on shares of LGI Homes in a research report on Wednesday, April 30th.

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.