LGI Homes, Inc. (NASDAQ:LGIH) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 11.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,701 shares of the financial services provider’s stock after buying an additional 565 shares during the quarter. PNC Financial Services Group Inc.’s holdings in LGI Homes were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its position in LGI Homes by 801.5% during the fourth quarter. Sterling Capital Management LLC now owns 613 shares of the financial services provider’s stock worth $55,000 after buying an additional 545 shares during the period. GAMMA Investing LLC grew its position in LGI Homes by 219.1% during the first quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider’s stock worth $59,000 after buying an additional 609 shares during the period. CWM LLC grew its position in LGI Homes by 50.3% during the first quarter. CWM LLC now owns 1,178 shares of the financial services provider’s stock worth $78,000 after buying an additional 394 shares during the period. Summit Investment Advisors Inc. grew its position in LGI Homes by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider’s stock worth $195,000 after buying an additional 141 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in LGI Homes by 10.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider’s stock worth $198,000 after buying an additional 212 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LGIH has been the topic of several research reports. Citigroup reiterated an “outperform” rating on shares of LGI Homes in a research report on Thursday, August 7th. Wedbush reiterated a “neutral” rating and issued a $93.00 price target on shares of LGI Homes in a research report on Monday, July 7th. JMP Securities lowered their price target on shares of LGI Homes from $140.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of LGI Homes from $52.00 to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, LGI Homes presently has a consensus rating of “Hold” and a consensus target price of $71.67.

LGI Homes Stock Down 2.7%

LGIH stock opened at $65.02 on Friday. The stock has a market capitalization of $1.50 billion, a P/E ratio of 9.81 and a beta of 1.69. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 18.18. LGI Homes, Inc. has a one year low of $47.17 and a one year high of $125.83. The company has a 50 day moving average price of $54.08 and a two-hundred day moving average price of $62.21.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.21 by $0.15. The firm had revenue of $483.49 million during the quarter, compared to analysts’ expectations of $546.96 million. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. LGI Homes’s revenue for the quarter was down 19.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.48 EPS. As a group, sell-side analysts expect that LGI Homes, Inc. will post 8.46 EPS for the current year.

LGI Homes Company 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.