OneDigital Investment Advisors LLC Buys New Position in LGI Homes, Inc. $LGIH

OneDigital Investment Advisors LLC purchased a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 43,005 shares of the financial services provider’s stock, valued at approximately $2,739,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in LGI Homes in the second quarter valued at approximately $366,000. Bank of New York Mellon Corp purchased a new stake in shares of LGI Homes during the second quarter valued at approximately $7,625,000. Wasatch Advisors LP raised its stake in shares of LGI Homes by 16.1% during the second quarter. Wasatch Advisors LP now owns 213,471 shares of the financial services provider’s stock valued at $13,594,000 after purchasing an additional 29,679 shares during the period. Everhart Financial Group Inc. acquired a new position in shares of LGI Homes during the second quarter worth $438,000. Finally, GAMMA Investing LLC boosted its stake in shares of LGI Homes by 14.7% in the second quarter. GAMMA Investing LLC now owns 2,093 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 269 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Price Performance

LGIH stock opened at $59.80 on Monday. The stock’s 50 day moving average is $58.20 and its two-hundred day moving average is $50.60. LGI Homes, Inc. has a 52-week low of $33.55 and a 52-week high of $69.50. The company has a market capitalization of $1.39 billion, a PE ratio of 20.98 and a beta of 1.83. The company has a quick ratio of 0.61, a current ratio of 17.74 and a debt-to-equity ratio of 0.74.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LGIH shares. Zacks Research raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Weiss Ratings upgraded shares of LGI Homes from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, JPMorgan Chase & Co. upped their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Two 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $72.75.

About LGI Homes

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.