Quantbot Technologies LP Takes Position in LGI Homes, Inc. $LGIH

Quantbot Technologies LP bought a new stake in LGI Homes, Inc. (NASDAQ:LGIH) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,979 shares of the financial services provider’s stock, valued at approximately $1,973,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its stake in LGI Homes by 75.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after buying an additional 237 shares in the last quarter. GAMMA Investing LLC increased its holdings in LGI Homes by 14.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,093 shares of the financial services provider’s stock valued at $133,000 after buying an additional 269 shares during the period. Russell Investments Group Ltd. raised its stake 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 buying an additional 305 shares in the last quarter. Pinnacle Holdings LLC raised its stake in shares of LGI Homes by 3.7% in the 4th quarter. Pinnacle Holdings LLC now owns 11,174 shares of the financial services provider’s stock valued at $480,000 after buying an additional 396 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of LGI Homes by 1.5% during the 3rd quarter. Swiss National Bank now owns 40,781 shares of the financial services provider’s stock worth $2,109,000 after acquiring an additional 600 shares during the period. 84.89% of the stock is owned by institutional investors.

LGI Homes Stock Up 0.2%

LGIH opened at $58.25 on Tuesday. The firm’s 50-day simple moving average is $58.77 and its 200-day simple moving average is $50.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 17.74. LGI Homes, Inc. has a twelve month low of $33.55 and a twelve month high of $69.50. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 20.44 and a beta of 1.83.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LGIH shares. JPMorgan Chase & Co. lifted their target price 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. Weiss Ratings lowered shares of LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Finally, Wall Street Zen upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.