Harbor Capital Advisors Inc. Purchases 1,262 Shares of LGI Homes, Inc. $LGIH

Harbor Capital Advisors Inc. raised its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 27.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,855 shares of the financial services provider’s stock after acquiring an additional 1,262 shares during the period. Harbor Capital Advisors Inc.’s holdings in LGI Homes were worth $302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LGIH. MassMutual Private Wealth & Trust FSB increased its holdings in LGI Homes by 453.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 435 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in LGI Homes by 12,620.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 636 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 631 shares during the last quarter. GAMMA Investing LLC increased its holdings in LGI Homes by 219.1% in the 1st quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 609 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in LGI Homes in the 1st quarter valued at $71,000. Finally, CWM LLC increased its holdings in LGI Homes by 50.3% in the 1st 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. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Trading Down 2.1%

Shares of LGIH opened at $56.55 on Friday. LGI Homes, Inc. has a 1-year low of $47.17 and a 1-year high of $121.91. The company has a 50-day moving average of $59.72 and a 200 day moving average of $58.67. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 8.53 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 18.18 and a quick ratio of 0.64.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on LGIH. Wedbush reiterated a “neutral” rating and issued a $95.00 price target on shares of LGI Homes in a report on Friday, September 5th. JPMorgan Chase & Co. reduced their price target on shares of LGI Homes from $52.00 to $47.00 and set an “underweight” rating on the stock in a report on Wednesday, July 9th. JMP Securities lifted their price target on shares of LGI Homes from $75.00 to $85.00 and gave the company a “market outperform” rating in a report on Wednesday, August 27th. Finally, Citigroup reissued a “market outperform” rating on shares of LGI Homes in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, LGI Homes presently has a consensus rating of “Hold” and a consensus target price of $75.67.

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.