HighTower Advisors LLC Invests $229,000 in LGI Homes, Inc. (NASDAQ:LGIH)

HighTower Advisors LLC bought a new stake in LGI Homes, Inc. (NASDAQ:LGIH) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,927 shares of the financial services provider’s stock, valued at approximately $229,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in shares of LGI Homes by 71.3% during the second quarter. Raymond James & Associates now owns 97,345 shares of the financial services provider’s stock valued at $8,711,000 after purchasing an additional 40,504 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of LGI Homes by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the financial services provider’s stock worth $922,000 after acquiring an additional 100 shares during the period. Innealta Capital LLC acquired a new position in shares of LGI Homes during the second quarter valued at approximately $39,000. Commonwealth Equity Services LLC raised its holdings in LGI Homes by 38.8% during the second quarter. Commonwealth Equity Services LLC now owns 2,702 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 755 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in LGI Homes by 1.9% in the second quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 112 shares during the period. Institutional investors own 84.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LGIH. JPMorgan Chase & Co. cut their price target on shares of LGI Homes from $100.00 to $82.00 and set an “underweight” rating for the company in a report on Friday, December 13th. Wedbush restated a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a report on Wednesday, November 6th.

LGI Homes Stock Down 0.1 %

Shares of LGI Homes stock opened at $90.37 on Wednesday. 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 $2.12 billion, a P/E ratio of 10.84 and a beta of 1.99. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. The stock has a 50 day moving average price of $104.59 and a two-hundred day moving average price of $104.16.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.54 by $0.41. The firm had revenue of $651.85 million for the quarter, compared to the consensus estimate of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.84 EPS. Equities analysts expect that LGI Homes, Inc. will post 8.72 earnings per share for the current 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.