Comerica Bank trimmed its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH – Get Rating) by 11.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,794 shares of the financial services provider’s stock after selling 2,025 shares during the period. Comerica Bank owned about 0.07% of LGI Homes worth $1,301,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in shares of LGI Homes during the second quarter valued at $302,000. Louisiana State Employees Retirement System purchased a new stake in shares of LGI Homes during the third quarter valued at $797,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of LGI Homes by 12.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 23,485 shares of the financial services provider’s stock valued at $2,041,000 after purchasing an additional 2,549 shares during the last quarter. Platinum Investment Management Ltd. lifted its holdings in shares of LGI Homes by 73.0% during the second quarter. Platinum Investment Management Ltd. now owns 414,391 shares of the financial services provider’s stock valued at $36,011,000 after purchasing an additional 174,846 shares during the last quarter. Finally, Ampfield Management L.P. lifted its holdings in shares of LGI Homes by 3.9% during the third quarter. Ampfield Management L.P. now owns 332,994 shares of the financial services provider’s stock valued at $27,096,000 after purchasing an additional 12,362 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.
LGI Homes Stock Up 2.3 %
LGIH opened at $109.81 on Tuesday. LGI Homes, Inc. has a fifty-two week low of $71.73 and a fifty-two week high of $134.05. The business has a 50-day moving average of $98.64 and a 200-day moving average of $95.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 10.89 and a quick ratio of 0.47. The company has a market capitalization of $2.56 billion, a PE ratio of 6.52 and a beta of 1.55.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Wedbush reduced their price objective on LGI Homes from $94.00 to $84.00 and set a “neutral” rating for the company in a research note on Monday, October 10th. StockNews.com assumed coverage on LGI Homes in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on LGI Homes from $73.00 to $84.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LGI Homes has an average rating of “Hold” and a consensus price target of $99.20.
In other news, Director Steven Randal Smith sold 991 shares of the stock in a transaction dated Thursday, December 22nd. The stock was sold at an average price of $95.27, for a total transaction of $94,412.57. Following the transaction, the director now owns 1,490 shares of the company’s stock, valued at approximately $141,952.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.50% of the stock is currently owned by insiders.
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 companies looking to acquire single-family rental properties.
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