Commonwealth Equity Services LLC Buys 755 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Commonwealth Equity Services LLC lifted its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 38.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,702 shares of the financial services provider’s stock after purchasing an additional 755 shares during the quarter. Commonwealth Equity Services LLC’s holdings in LGI Homes were worth $242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Horizon Advisors Inc. increased its stake in LGI Homes by 32.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 108 shares during the last quarter. Innealta Capital LLC bought a new position in LGI Homes in the 2nd quarter worth about $39,000. Mather Group LLC. bought a new position in LGI Homes in the 1st quarter worth about $47,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in LGI Homes in the 1st quarter worth about $52,000. Finally, Headlands Technologies LLC bought a new position in LGI Homes in the 1st quarter worth about $130,000. 84.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LGIH has been the subject of a number of research reports. Wedbush upgraded LGI Homes from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $97.00 to $125.00 in a report on Monday, September 9th. JPMorgan Chase & Co. cut their price objective on LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $126.00.

LGI Homes Trading Down 2.6 %

LGIH opened at $113.22 on Thursday. The business has a 50 day simple moving average of $107.58 and a two-hundred day simple moving average of $101.72. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 14.15 and a beta of 1.95. The company has a debt-to-equity ratio of 0.78, a current ratio of 12.63 and a quick ratio of 0.49. LGI Homes, Inc. has a one year low of $84.00 and a one year high of $136.89.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.24. The business had revenue of $602.50 million during the quarter, compared to analyst estimates of $617.44 million. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. LGI Homes’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.25 EPS. Analysts predict that LGI Homes, Inc. will post 9.01 EPS for the current year.

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.