LGI Homes, Inc. (NASDAQ:LGIH) Shares Sold by Pitcairn Co.

Pitcairn Co. lessened its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 7.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,815 shares of the financial services provider’s stock after selling 300 shares during the quarter. Pitcairn Co.’s holdings in LGI Homes were worth $452,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its position in LGI Homes by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the financial services provider’s stock worth $922,000 after acquiring an additional 100 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of LGI Homes by 32.5% during the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 108 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of LGI Homes by 1.9% in the second quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 112 shares during the period. Sei Investments Co. grew its holdings in LGI Homes by 3.3% during the 1st quarter. Sei Investments Co. now owns 3,970 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 126 shares in the last quarter. Finally, KBC Group NV increased its stake in LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Stock Down 1.9 %

Shares of NASDAQ:LGIH opened at $109.10 on Wednesday. The firm has a market cap of $2.57 billion, a PE ratio of 12.92 and a beta of 1.97. The company has a fifty day simple moving average of $110.00 and a 200 day simple moving average of $103.53. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. LGI Homes, Inc. has a 12-month low of $84.00 and a 12-month high of $136.89.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. During the same quarter in the previous year, the firm earned $2.84 EPS. The company’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that LGI Homes, Inc. will post 8.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wedbush restated a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a research note on Wednesday, November 6th.

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.