Rhumbline Advisers Grows Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Rhumbline Advisers raised its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,833 shares of the financial services provider’s stock after acquiring an additional 2,460 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of LGI Homes worth $5,796,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of LGI Homes by 112.9% in the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after buying an additional 184 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of LGI Homes during the third quarter worth about $43,000. KBC Group NV increased its holdings in LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 168 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of LGI Homes during the third quarter worth about $229,000. Finally, Meitav Investment House Ltd. acquired a new position in shares of LGI Homes in the 3rd quarter worth approximately $235,000. 84.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on LGIH shares. JPMorgan Chase & Co. reduced their price objective on LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and set a $160.00 price objective on shares of LGI Homes in a research note on Friday, January 10th. Wedbush reissued a “neutral” rating and issued a $115.00 target price (down from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. Finally, Seaport Res Ptn raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $118.33.

LGI Homes Stock Down 2.7 %

Shares of LGIH stock opened at $75.82 on Thursday. The stock’s 50 day simple moving average is $87.17 and its 200 day simple moving average is $100.79. LGI Homes, Inc. has a twelve month low of $75.78 and a twelve month high of $125.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 9.09 and a beta of 2.03.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.16). The firm had revenue of $557.40 million during the quarter, compared to analyst estimates of $588.56 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. During the same quarter in the previous year, the firm posted $2.19 earnings per share. LGI Homes’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, research analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current year.

About LGI Homes

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.