First Eagle Investment Management LLC Raises Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

First Eagle Investment Management LLC increased its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,215 shares of the financial services provider’s stock after acquiring an additional 4,800 shares during the quarter. First Eagle Investment Management LLC owned about 0.39% of LGI Homes worth $8,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of LGI Homes by 16.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,499 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 351 shares during the last quarter. Norges Bank purchased a new stake in LGI Homes in the fourth quarter valued at about $7,776,000. UBS Group AG boosted its holdings in LGI Homes by 17.4% in the fourth quarter. UBS Group AG now owns 107,497 shares of the financial services provider’s stock worth $14,314,000 after acquiring an additional 15,912 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of LGI Homes during the fourth quarter worth about $483,000. Finally, Polen Capital Management LLC acquired a new position in shares of LGI Homes during the fourth quarter valued at about $3,360,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on LGIH shares. Wedbush upgraded shares of LGI Homes from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $97.00 to $125.00 in a research note on Monday, September 9th. JPMorgan Chase & Co. lowered their price objective on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $126.00.

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $123.50 on Friday. LGI Homes, Inc. has a 52 week low of $84.00 and a 52 week high of $136.89. The business’s 50 day moving average price is $106.53 and its 200 day moving average price is $101.65. 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 has a market cap of $2.91 billion, a P/E ratio of 15.44 and a beta of 1.95.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.24. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The firm had revenue of $602.50 million for the quarter, compared to analyst estimates of $617.44 million. During the same quarter in the prior year, the business earned $2.25 earnings per share. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts expect that LGI Homes, Inc. will post 9.01 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.