SG Americas Securities LLC Cuts Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

SG Americas Securities LLC trimmed its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 47.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,041 shares of the financial services provider’s stock after selling 1,870 shares during the quarter. SG Americas Securities LLC’s holdings in LGI Homes were worth $242,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LGIH. Mather Group LLC. acquired a new stake in LGI Homes in the 1st quarter valued at $47,000. Tributary Capital Management LLC grew its stake in LGI Homes by 12.1% in the 1st quarter. Tributary Capital Management LLC now owns 149,945 shares of the financial services provider’s stock valued at $17,449,000 after acquiring an additional 16,203 shares during the period. Wasatch Advisors LP grew its stake in LGI Homes by 9.9% in the 1st quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock valued at $169,929,000 after acquiring an additional 131,467 shares during the period. BNP Paribas Financial Markets grew its stake in LGI Homes by 28.6% in the 1st quarter. BNP Paribas Financial Markets now owns 34,290 shares of the financial services provider’s stock valued at $3,990,000 after acquiring an additional 7,616 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in LGI Homes by 23.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,334 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 444 shares during the period. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Trading Down 5.2 %

Shares of LGIH opened at $109.33 on Tuesday. LGI Homes, Inc. has a 52-week low of $84.00 and a 52-week high of $136.89. The company has a quick ratio of 0.49, a current ratio of 12.63 and a debt-to-equity ratio of 0.78. The firm’s fifty day moving average is $110.86 and its two-hundred day moving average is $101.98. The stock has a market cap of $2.58 billion, a PE ratio of 13.67 and a beta of 1.95.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.24. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The company had revenue of $602.50 million for the quarter, compared to analysts’ expectations of $617.44 million. During the same quarter in the previous year, the company posted $2.25 EPS. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. Research analysts forecast that LGI Homes, Inc. will post 8.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LGIH has been the topic of a number of research analyst reports. Wedbush reissued a “neutral” rating and issued a $125.00 price target on shares of LGI Homes in a research note on Friday, October 4th. JPMorgan Chase & Co. dropped their price target on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, LGI Homes currently has a consensus rating of “Hold” and a consensus target price of $126.00.

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.