Connor Clark & Lunn Investment Management Ltd. Makes New Investment in LGI Homes, Inc. $LGIH

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,167 shares of the financial services provider’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in LGI Homes by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,504,384 shares of the financial services provider’s stock worth $134,491,000 after buying an additional 6,706 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in LGI Homes by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 395,810 shares of the financial services provider’s stock worth $26,309,000 after buying an additional 19,017 shares during the period. Northern Trust Corp boosted its stake in LGI Homes by 11.5% during the fourth quarter. Northern Trust Corp now owns 219,547 shares of the financial services provider’s stock worth $19,628,000 after buying an additional 22,615 shares during the period. Tributary Capital Management LLC boosted its stake in LGI Homes by 15.0% during the first quarter. Tributary Capital Management LLC now owns 215,556 shares of the financial services provider’s stock worth $14,328,000 after buying an additional 28,095 shares during the period. Finally, Millennium Management LLC boosted its stake in LGI Homes by 96.5% during the fourth quarter. Millennium Management LLC now owns 115,406 shares of the financial services provider’s stock worth $10,317,000 after buying an additional 56,664 shares during the period. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Stock Down 4.7%

Shares of LGIH opened at $63.42 on Thursday. The company has a current ratio of 18.18, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average price of $55.16 and a 200-day moving average price of $61.50. The firm has a market capitalization of $1.46 billion, a P/E ratio of 9.57 and a beta of 1.69. LGI Homes, Inc. has a 12-month low of $47.17 and a 12-month high of $125.83.

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research note on Thursday, August 7th. JMP Securities lowered their target price on shares of LGI Homes from $140.00 to $75.00 and set a “market outperform” rating for the company in a research note on Thursday, August 7th. Wedbush reissued a “neutral” rating and set a $93.00 target price on shares of LGI Homes in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of LGI Homes from $52.00 to $47.00 and set an “underweight” rating for the company in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, LGI Homes presently has a consensus rating of “Hold” and a consensus target price of $71.67.

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.