7,409 Shares in LGI Homes, Inc. (NASDAQ:LGIH) Bought by Algert Global LLC

Algert Global LLC acquired a new stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 7,409 shares of the financial services provider’s stock, valued at approximately $663,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rafferty Asset Management LLC increased its position in shares of LGI Homes by 21.9% during the fourth quarter. Rafferty Asset Management LLC now owns 14,770 shares of the financial services provider’s stock valued at $1,967,000 after buying an additional 2,656 shares during the period. Tower Research Capital LLC TRC raised its position in shares of LGI Homes by 2,876.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,453 shares of the financial services provider’s stock worth $1,791,000 after acquiring an additional 13,001 shares in the last quarter. Wasatch Advisors LP raised its position in shares of LGI Homes by 4.3% in the 4th quarter. Wasatch Advisors LP now owns 1,328,778 shares of the financial services provider’s stock worth $176,940,000 after acquiring an additional 54,606 shares in the last quarter. Breach Inlet Capital Management LLC purchased a new position in shares of LGI Homes in the 4th quarter valued at approximately $6,686,000. Finally, Oakcliff Capital Partners LP bought a new stake in shares of LGI Homes during the fourth quarter valued at approximately $5,139,000. 84.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on LGIH. JPMorgan Chase & Co. decreased their price objective on LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Wedbush reiterated a “neutral” rating and issued a $125.00 price target on shares of LGI Homes in a research note on Friday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $126.00.

LGI Homes Stock Down 3.4 %

Shares of NASDAQ:LGIH opened at $111.40 on Friday. LGI Homes, Inc. has a 12-month low of $84.00 and a 12-month high of $136.89. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 13.93 and a beta of 1.95. The stock has a fifty day simple moving average of $109.25 and a two-hundred day simple moving average of $102.00. The company has a current ratio of 12.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.24. The company had revenue of $602.50 million for the quarter, compared to analysts’ expectations of $617.44 million. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. LGI Homes’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.25 EPS. On average, research analysts anticipate that LGI Homes, Inc. will post 9.01 earnings per share for the current fiscal year.

LGI Homes Profile

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.