Bank of New York Mellon Corp Acquires 4,096 Shares of LGI Homes, Inc. $LGIH

Bank of New York Mellon Corp boosted its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 148,598 shares of the financial services provider’s stock after purchasing an additional 4,096 shares during the period. Bank of New York Mellon Corp owned about 0.63% of LGI Homes worth $7,656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Exencial Wealth Advisors LLC increased its position in shares of LGI Homes by 8.0% during the first quarter. Exencial Wealth Advisors LLC now owns 3,621 shares of the financial services provider’s stock worth $241,000 after buying an additional 269 shares during the period. CWM LLC lifted its position 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 in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in LGI Homes by 453.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the financial services provider’s stock worth $27,000 after buying an additional 435 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of LGI Homes by 6.4% in the first quarter. Victory Capital Management Inc. now owns 7,534 shares of the financial services provider’s stock valued at $501,000 after purchasing an additional 454 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of LGI Homes by 11.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,701 shares of the financial services provider’s stock worth $379,000 after buying an additional 565 shares during the last quarter. 84.89% of the stock is owned by institutional investors.

LGI Homes Stock Down 0.3%

NASDAQ:LGIH opened at $44.33 on Friday. The company has a market cap of $1.02 billion, a PE ratio of 6.69 and a beta of 1.75. 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, Inc. has a twelve month low of $39.70 and a twelve month high of $114.56. The company’s 50 day moving average is $48.63 and its two-hundred day moving average is $53.49.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). The company had revenue of $396.63 million during the quarter, compared to analyst estimates of $421.66 million. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. Analysts anticipate that LGI Homes, Inc. will post 8.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup reissued a “market outperform” rating on shares of LGI Homes in a report on Wednesday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of LGI Homes in a research report on Monday. JMP Securities boosted their price target on LGI Homes from $75.00 to $85.00 and gave the company a “market outperform” rating in a report on Wednesday, August 27th. JPMorgan Chase & Co. boosted their price target on shares of LGI Homes from $47.00 to $48.50 and gave the company an “underweight” rating in a research report on Tuesday, October 14th. Finally, Capital One Financial set a $60.00 target price on shares of LGI Homes in a report on Thursday, October 9th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, LGI Homes presently has an average rating of “Hold” and an average price target of $72.13.

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.