Tributary Capital Management LLC Acquires 186,159 Shares of LGI Homes, Inc. $LGIH

Tributary Capital Management LLC increased its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 93.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 386,072 shares of the financial services provider’s stock after purchasing an additional 186,159 shares during the quarter. Tributary Capital Management LLC’s holdings in LGI Homes were worth $19,964,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Voss Capital LP acquired a new position in shares of LGI Homes during the 2nd quarter worth about $11,592,000. Shay Capital LLC acquired a new position in LGI Homes during the second quarter valued at approximately $3,235,000. Jump Financial LLC grew its stake in shares of LGI Homes by 171.3% in the second quarter. Jump Financial LLC now owns 87,515 shares of the financial services provider’s stock valued at $4,509,000 after buying an additional 55,259 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of LGI Homes in the 2nd quarter valued at about $2,788,000. Finally, Wasatch Advisors LP increased its position in LGI Homes by 3.4% during the second quarter. Wasatch Advisors LP now owns 1,467,855 shares of the financial services provider’s stock worth $75,624,000 after buying an additional 48,795 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Price Performance

LGIH stock opened at $43.15 on Thursday. The stock has a market cap of $995.90 million, a price-to-earnings ratio of 9.53 and a beta of 1.88. The company has a debt-to-equity ratio of 0.84, a current ratio of 18.02 and a quick ratio of 0.58. The company has a 50 day simple moving average of $46.57 and a 200 day simple moving average of $52.20. LGI Homes, Inc. has a 1 year low of $39.70 and a 1 year high of $97.25.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, November 4th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). The company had revenue of $396.63 million for the quarter, compared to the consensus estimate of $421.66 million. LGI Homes had a return on equity of 5.50% and a net margin of 5.93%. Research analysts anticipate that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research note on Monday, December 29th. Wedbush reaffirmed a “neutral” rating and issued a $95.00 price target on shares of LGI Homes in a research note on Monday, October 6th. Citizens Jmp upped their price objective on shares of LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Capital One Financial set a $60.00 target price on shares of LGI Homes in a report on Thursday, October 9th. Finally, Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a report on Wednesday. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $76.70.

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.