Vanguard Group Inc. Raises Position in LGI Homes, Inc. $LGIH

Vanguard Group Inc. increased its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 0.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,275,145 shares of the financial services provider’s stock after buying an additional 238 shares during the period. Vanguard Group Inc. owned 9.72% of LGI Homes worth $151,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Summit Investment Advisors Inc. raised its position in shares of LGI Homes by 6.9% in 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 in the last quarter. Mariner LLC increased its stake in LGI Homes by 3.2% in the fourth quarter. Mariner LLC now owns 4,581 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 143 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in LGI Homes by 10.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 212 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in LGI Homes by 8.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,023 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 245 shares during the last quarter. Finally, CWM LLC increased its stake in LGI Homes by 50.3% in the first quarter. CWM LLC now owns 1,178 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Stock Down 4.7%

Shares of NASDAQ:LGIH opened at $63.42 on Thursday. The stock’s 50-day moving average price is $55.16 and its 200-day moving average price is $61.50. LGI Homes, Inc. has a 12-month low of $47.17 and a 12-month high of $125.83. The stock has a market capitalization of $1.46 billion, a P/E ratio of 9.57 and a beta of 1.69. The company has a current ratio of 18.18, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. The firm had revenue of $483.49 million for the quarter, compared to analysts’ expectations of $546.96 million. LGI Homes had a return on equity of 8.00% and a net margin of 7.63%.The company’s revenue for the quarter was down 19.8% compared to the same quarter last year. During the same period last year, the firm earned $2.48 earnings per share. On average, equities analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JMP Securities reduced their target price on LGI Homes from $140.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. reduced their target price on LGI Homes from $52.00 to $47.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 9th. Citigroup reissued an “outperform” rating on shares of LGI Homes in a research note on Thursday, August 7th. Finally, Wedbush reissued a “neutral” rating and issued a $93.00 target price on shares of LGI Homes in a research note on Monday, July 7th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $71.67.

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.