Rhumbline Advisers Has $4.11 Million Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Rhumbline Advisers trimmed its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,845 shares of the financial services provider’s stock after selling 2,988 shares during the quarter. Rhumbline Advisers owned about 0.26% of LGI Homes worth $4,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC lifted its stake in shares of LGI Homes by 801.5% in the 4th quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 545 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of LGI Homes by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 141 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of LGI Homes by 10.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 212 shares during the period. Cornerstone Select Advisors LLC acquired a new position in shares of LGI Homes in the 4th quarter valued at about $271,000. Finally, EntryPoint Capital LLC lifted its stake in shares of LGI Homes by 66.2% in the 4th quarter. EntryPoint Capital LLC now owns 3,049 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 1,215 shares during the period. 84.89% of the stock is owned by institutional investors and hedge funds.

LGI Homes Stock Performance

Shares of LGI Homes stock opened at $49.70 on Friday. LGI Homes, Inc. has a one year low of $47.79 and a one year high of $125.83. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 5.96 and a beta of 1.77. The business has a 50-day simple moving average of $54.84 and a 200 day simple moving average of $74.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of LGI Homes in a research report on Wednesday, April 30th. Wedbush decreased their target price on LGI Homes from $100.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, June 5th.

About LGI Homes

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.