Allspring Global Investments Holdings LLC Buys Shares of 366 LGI Homes, Inc. (NASDAQ:LGIH)

Allspring Global Investments Holdings LLC purchased a new position in LGI Homes, Inc. (NASDAQ:LGIH) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 366 shares of the financial services provider’s stock, valued at approximately $43,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. grew its position in LGI Homes by 32.5% in the second 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 in the last quarter. Innealta Capital LLC bought a new stake in shares of LGI Homes during the 2nd quarter worth $39,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of LGI Homes during the 1st quarter worth $52,000. CWM LLC boosted its holdings in shares of LGI Homes by 27.5% during the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after buying an additional 187 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of LGI Homes during the 1st quarter worth $130,000. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Stock Performance

Shares of LGIH stock opened at $103.54 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 12.63. The company has a market capitalization of $2.43 billion, a P/E ratio of 12.46 and a beta of 1.97. The company’s 50 day moving average price is $110.58 and its two-hundred day moving average price is $102.32. LGI Homes, Inc. has a 52 week low of $84.00 and a 52 week high of $136.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LGIH shares. JPMorgan Chase & Co. dropped their target price on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Wedbush reiterated a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, LGI Homes currently has an average rating of “Hold” and an average target price of $126.00.

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.