JPMorgan Chase & Co. Raises Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

JPMorgan Chase & Co. lifted its position in LGI Homes, Inc. (NASDAQ:LGIH) by 131.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,557 shares of the financial services provider’s stock after purchasing an additional 63,346 shares during the period. JPMorgan Chase & Co. owned 0.47% of LGI Homes worth $13,222,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LGIH. Denali Advisors LLC bought a new stake in LGI Homes during the 2nd quarter valued at $993,000. Citigroup Inc. increased its stake in shares of LGI Homes by 60.9% during the third quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock valued at $4,954,000 after buying an additional 15,818 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of LGI Homes by 5.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock valued at $383,000 after buying an additional 176 shares during the period. American Century Companies Inc. raised its holdings in shares of LGI Homes by 21.3% in the second quarter. American Century Companies Inc. now owns 29,358 shares of the financial services provider’s stock valued at $2,627,000 after acquiring an additional 5,159 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its stake in LGI Homes by 1.7% in the second quarter. Disciplined Growth Investors Inc. MN now owns 906,198 shares of the financial services provider’s stock worth $81,096,000 after acquiring an additional 15,340 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on LGIH shares. JMP Securities reissued a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a research note on Friday, December 13th. Finally, Wedbush reissued a “neutral” rating and set a $115.00 price objective (down from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th.

LGI Homes Price Performance

Shares of LGIH stock opened at $83.29 on Friday. The stock’s 50-day moving average is $99.70 and its 200 day moving average is $103.64. LGI Homes, Inc. has a 1-year low of $82.94 and a 1-year high of $130.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The company has a market cap of $1.96 billion, a P/E ratio of 9.99 and a beta of 2.02.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.41. The business had revenue of $651.85 million for the quarter, compared to analysts’ expectations of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $2.84 EPS. Research analysts predict that LGI Homes, Inc. will post 8.72 earnings per share for the current fiscal 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.