JPMorgan Chase & Co. Has $3.17 Million Stake in LGI Homes, Inc. $LGIH

JPMorgan Chase & Co. raised its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 244.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,384 shares of the financial services provider’s stock after acquiring an additional 43,572 shares during the period. JPMorgan Chase & Co. owned about 0.27% of LGI Homes worth $3,174,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of LGI Homes by 75.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 237 shares in the last quarter. Versant Capital Management Inc increased its position in shares of LGI Homes by 35.1% during the 3rd quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 246 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in LGI Homes by 2.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 10,970 shares of the financial services provider’s stock valued at $567,000 after purchasing an additional 275 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 305 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in LGI Homes by 6.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,056 shares of the financial services provider’s stock valued at $313,000 after buying an additional 387 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Price Performance

Shares of LGIH stock opened at $38.13 on Friday. LGI Homes, Inc. has a 1 year low of $33.55 and a 1 year high of $69.50. The firm’s 50 day moving average is $47.94 and its 200-day moving average is $48.14. The firm has a market capitalization of $881.95 million, a price-to-earnings ratio of 12.18 and a beta of 1.86. The company has a current ratio of 20.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, February 17th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. LGI Homes had a net margin of 4.25% and a return on equity of 4.08%. The business had revenue of $473.97 million for the quarter, compared to analysts’ expectations of $479.60 million. During the same period in the prior year, the firm earned $2.15 earnings per share. LGI Homes’s revenue was down 15.0% compared to the same quarter last year. Sell-side analysts forecast that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Insider Buying and Selling at LGI Homes

In other news, CFO Charles Michael Merdian sold 7,211 shares of LGI Homes stock in a transaction on Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $303,150.44. Following the completion of the sale, the chief financial officer directly owned 20,540 shares of the company’s stock, valued at approximately $863,501.60. This trade represents a 25.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Scott James Garber sold 1,353 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $56,880.12. Following the sale, the general counsel owned 21,716 shares of the company’s stock, valued at approximately $912,940.64. The trade was a 5.87% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 22,451 shares of company stock worth $943,840. Insiders own 12.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LGIH. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a report on Wednesday, January 7th. Citizens Jmp increased their price target on LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, LGI Homes has an average rating of “Hold” and a consensus target price of $74.63.

LGI Homes Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.