LGI Homes, Inc. (NASDAQ:LGIH) Holdings Trimmed by Comerica Bank

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.

LGI Homes (NASDAQ:LGIH – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The financial services provider reported $3.85 earnings per share for the quarter, missing analysts’ consensus estimates of $3.91 by ($0.06). LGI Homes had a return on equity of 27.19% and a net margin of 15.43%. The firm had revenue of $547.07 million for the quarter, compared to analysts’ expectations of $650.41 million. Equities research analysts forecast that LGI Homes, Inc. will post 13.92 EPS for the current fiscal year.

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.

Insider Activity

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

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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.