LGI Homes, Inc. (NASDAQ:LGIH) Position Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,232 shares of the financial services provider’s stock after acquiring an additional 176 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in LGI Homes were worth $383,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LGIH. Altshuler Shaham Ltd lifted its position in shares of LGI Homes by 5,860.2% in the 2nd quarter. Altshuler Shaham Ltd now owns 454,760 shares of the financial services provider’s stock worth $40,696,000 after buying an additional 447,130 shares during the last quarter. Khrom Capital Management LLC bought a new stake in LGI Homes in the 2nd quarter valued at about $21,477,000. Bright Financial Advisors Inc. bought a new stake in LGI Homes in the 1st quarter valued at about $12,260,000. Marshall Wace LLP lifted its position in LGI Homes by 51.8% in the 2nd quarter. Marshall Wace LLP now owns 269,798 shares of the financial services provider’s stock valued at $24,144,000 after purchasing an additional 92,081 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in LGI Homes by 2,629.8% in the 2nd quarter. Bank of Montreal Can now owns 86,889 shares of the financial services provider’s stock valued at $8,550,000 after purchasing an additional 83,706 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated a “neutral” rating and issued a $125.00 price objective on shares of LGI Homes in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $126.00.

LGI Homes Stock Performance

Shares of LGIH opened at $109.12 on Friday. The firm’s 50 day moving average is $110.55 and its 200-day moving average is $102.77. The stock has a market capitalization of $2.57 billion, a P/E ratio of 13.08 and a beta of 1.97. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.49. LGI Homes, Inc. has a 12-month low of $84.00 and a 12-month high of $136.89.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company had revenue of $651.85 million for the quarter, compared to analysts’ expectations of $645.27 million. During the same quarter in the previous year, the company posted $2.84 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that LGI Homes, Inc. will post 8.82 EPS for the current fiscal year.

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.