State of Alaska Department of Revenue Increases Stake in LGI Homes, Inc. $LGIH

State of Alaska Department of Revenue increased its position in LGI Homes, Inc. (NASDAQ:LGIH) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,262 shares of the financial services provider’s stock after acquiring an additional 797 shares during the quarter. State of Alaska Department of Revenue owned about 0.05% of LGI Homes worth $631,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. 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 worth $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 worth $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 worth $59,000 after acquiring an additional 609 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in LGI Homes in the 1st quarter worth about $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 worth $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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup reissued a “market outperform” rating on shares of LGI Homes in a report on Wednesday, August 27th. Wedbush reaffirmed a “neutral” rating and set a $95.00 target price on shares of LGI Homes in a report on Monday. JMP Securities lifted their target price on LGI Homes from $75.00 to $85.00 and gave the company a “market outperform” rating in a report on Wednesday, August 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LGI Homes in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. reduced their target price on LGI Homes from $52.00 to $47.00 and set an “underweight” rating for the company in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, LGI Homes presently has an average rating of “Hold” and an average price target of $75.67.

LGI Homes Stock Down 7.1%

Shares of NASDAQ LGIH opened at $46.57 on Wednesday. LGI Homes, Inc. has a 12 month low of $46.47 and a 12 month high of $118.31. 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 market capitalization of $1.07 billion, a price-to-earnings ratio of 7.02 and a beta of 1.77. The business has a 50-day moving average of $59.03 and a 200-day moving average of $56.83.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data 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. LGI Homes had a return on equity of 8.00% and a net margin of 7.63%.The company had revenue of $483.49 million during the quarter, compared to analyst estimates of $546.96 million. During the same quarter in the previous year, the firm earned $2.48 earnings per share. LGI Homes’s revenue was down 19.8% on a year-over-year basis. Sell-side analysts expect that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

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.