LGI Homes, Inc. $LGIH Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in LGI Homes, Inc. (NASDAQ:LGIH) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,239,066 shares of the financial services provider’s stock after selling 26,276 shares during the period. Vanguard Group Inc. owned about 9.71% of LGI Homes worth $115,782,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc raised its holdings in LGI Homes by 35.1% in the 3rd quarter. Versant Capital Management Inc now owns 947 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 246 shares during the period. PNC Financial Services Group Inc. increased its position in shares of LGI Homes by 4.8% in the second quarter. PNC Financial Services Group Inc. now owns 5,976 shares of the financial services provider’s stock valued at $308,000 after buying an additional 275 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of LGI Homes by 2.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 10,970 shares of the financial services provider’s stock worth $567,000 after buying an additional 275 shares during the period. Russell Investments Group Ltd. raised its stake 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 buying an additional 305 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of LGI Homes by 6.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,288 shares of the financial services provider’s stock valued at $272,000 after buying an additional 336 shares in the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on LGIH. 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, January 7th. Citigroup reissued an “outperform” rating on shares of LGI Homes in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.63.

LGI Homes Stock Performance

NASDAQ:LGIH opened at $48.65 on Thursday. The company’s 50-day moving average is $51.71 and its two-hundred day moving average is $51.75. LGI Homes, Inc. has a 1-year low of $39.70 and a 1-year high of $77.38. The company has a debt-to-equity ratio of 0.79, a current ratio of 20.98 and a quick ratio of 0.76. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.54 and a beta of 1.88.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. LGI Homes had a net margin of 4.25% and a return on equity of 4.08%. The business had revenue of $473.97 million during the quarter, compared to the consensus estimate of $479.60 million. During the same quarter last year, the firm earned $2.15 EPS. The business’s revenue was down 15.0% compared to the same quarter last year. Analysts forecast that LGI Homes, Inc. will post 8.46 EPS for the current year.

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.