CDAM UK Ltd Acquires 99,090 Shares of LGI Homes, Inc. $LGIH

CDAM UK Ltd lifted its position in LGI Homes, Inc. (NASDAQ:LGIH) by 15.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 743,153 shares of the financial services provider’s stock after acquiring an additional 99,090 shares during the period. LGI Homes accounts for 5.8% of CDAM UK Ltd’s investment portfolio, making the stock its 10th biggest holding. CDAM UK Ltd’s holdings in LGI Homes were worth $31,926,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its position 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 acquiring an additional 237 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of LGI Homes in the 4th quarter valued at $29,000. Russell Investments Group Ltd. increased its position in shares of LGI Homes by 106.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 305 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of LGI Homes by 7,240.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,101 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,086 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of LGI Homes by 294.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,983 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 1,480 shares during the period. 84.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on LGIH. JPMorgan Chase & Co. upped their target price on LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Weiss Ratings reissued a “sell (d)” rating on shares of LGI Homes in a research report on Friday, May 22nd. Zacks Research raised LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised LGI Homes from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.75.

LGI Homes Price Performance

NASDAQ:LGIH opened at $54.05 on Friday. LGI Homes, Inc. has a one year low of $33.55 and a one year high of $69.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 18.56. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 17.72 and a beta of 1.87. The firm’s fifty day moving average is $45.42 and its two-hundred day moving average is $47.39.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.02 by $0.22. LGI Homes had a net margin of 4.22% and a return on equity of 3.80%. The company had revenue of $319.74 million for the quarter, compared to analyst estimates of $328.22 million. During the same period in the prior year, the company earned $0.17 earnings per share. The firm’s revenue was down 9.0% on a year-over-year basis. Research analysts expect that LGI Homes, Inc. will post 2.76 EPS for the current year.

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.