Intech Investment Management LLC Grows Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Intech Investment Management LLC increased its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 113.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,785 shares of the financial services provider’s stock after buying an additional 3,080 shares during the period. Intech Investment Management LLC’s holdings in LGI Homes were worth $686,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LGIH. Innealta Capital LLC purchased a new position in shares of LGI Homes during the second quarter worth about $39,000. First Horizon Advisors Inc. grew its stake in LGI Homes by 32.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after buying an additional 108 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of LGI Homes in the third quarter valued at approximately $43,000. KBC Group NV raised its stake in shares of LGI Homes by 29.8% during the third 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. Finally, CWM LLC lifted its holdings in shares of LGI Homes by 27.5% during the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 187 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a research report on Wednesday, November 6th.

LGI Homes Stock Down 0.7 %

LGIH opened at $109.49 on Friday. The firm has a market cap of $2.57 billion, a P/E ratio of 13.13 and a beta of 1.97. The business’s fifty day simple moving average is $109.10 and its 200 day simple moving average is $103.75. LGI Homes, Inc. has a 52 week low of $84.00 and a 52 week high of $136.89. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. During the same period in the previous year, the firm posted $2.84 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that LGI Homes, Inc. will post 8.72 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.