LGI Homes, Inc. (NASDAQ:LGIH) Position Raised by Arizona State Retirement System

Arizona State Retirement System increased its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,940 shares of the financial services provider’s stock after purchasing an additional 112 shares during the period. Arizona State Retirement System’s holdings in LGI Homes were worth $532,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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. Innealta Capital LLC acquired a new position in LGI Homes in the second quarter worth approximately $39,000. Avion Wealth acquired a new position in LGI Homes in the second quarter worth approximately $633,000. Tributary Capital Management LLC grew its position in LGI Homes by 25.0% in the second quarter. Tributary Capital Management LLC now owns 187,442 shares of the financial services provider’s stock worth $16,774,000 after buying an additional 37,497 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in LGI Homes by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the financial services provider’s stock worth $922,000 after buying an additional 100 shares during the last quarter. Institutional investors own 84.89% of the company’s stock.

LGI Homes Trading Up 1.7 %

NASDAQ LGIH opened at $116.47 on Tuesday. The firm’s 50 day moving average price is $104.12 and its two-hundred day moving average price is $101.30. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 12.63. LGI Homes, Inc. has a twelve month low of $84.00 and a twelve month high of $136.89. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 14.56 and a beta of 1.95.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.48 EPS for the quarter, beating 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 business had revenue of $602.50 million for the quarter, compared to analysts’ expectations of $617.44 million. During the same period in the previous year, the company posted $2.25 EPS. LGI Homes’s revenue was down 6.6% on a year-over-year basis. Equities analysts anticipate that LGI Homes, Inc. will post 9.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LGIH shares. Wedbush upgraded shares of LGI Homes from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $97.00 to $125.00 in a research report on Monday, September 9th. JPMorgan Chase & Co. decreased 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 report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, LGI Homes has a consensus rating of “Hold” and an average price target of $126.00.

LGI Homes Company 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.