LGI Homes, Inc. $LGIH Shares Purchased by Wasatch Advisors LP

Wasatch Advisors LP increased its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 16.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 213,471 shares of the financial services provider’s stock after acquiring an additional 29,679 shares during the period. Wasatch Advisors LP’s holdings in LGI Homes were worth $13,594,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its position in LGI Homes by 75.5% in the third 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 during the period. Los Angeles Capital Management LLC purchased a new position in shares of LGI Homes during the 4th quarter worth $29,000. Russell Investments Group Ltd. increased its position in shares of LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 305 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of LGI Homes during the 4th quarter worth about $32,000. Finally, Rockefeller Capital Management L.P. raised its holdings in LGI Homes by 1,759.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after buying an additional 827 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Stock Performance

Shares of LGI Homes stock opened at $56.90 on Thursday. LGI Homes, Inc. has a one year low of $33.55 and a one year high of $69.50. The company has a market cap of $1.32 billion, a PE ratio of 19.96 and a beta of 1.83. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 17.74. The business has a 50-day simple moving average of $57.85 and a 200-day simple moving average of $50.48.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. The business had revenue of $516.05 million during the quarter, compared to analysts’ expectations of $489.23 million. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 EPS.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Weiss Ratings raised shares of LGI Homes from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price target on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $72.75.

LGI Homes Company 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.