New York State Common Retirement Fund Sells 4,200 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

New York State Common Retirement Fund reduced its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 37.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,876 shares of the financial services provider’s stock after selling 4,200 shares during the period. New York State Common Retirement Fund’s holdings in LGI Homes were worth $615,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in LGI Homes by 112.9% during the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 184 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of LGI Homes during the 3rd quarter valued at $43,000. KBC Group NV lifted its stake in shares of LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after buying an additional 168 shares in the last quarter. HighTower Advisors LLC bought a new position in LGI Homes in the 3rd quarter worth $229,000. Finally, First Trust Direct Indexing L.P. bought a new position in LGI Homes in the 3rd quarter worth $235,000. 84.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LGIH shares. JPMorgan Chase & Co. lowered their price objective on LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Wedbush reissued a “neutral” rating and set a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Seaport Res Ptn upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $160.00 price objective on shares of LGI Homes in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $118.33.

LGI Homes Price Performance

LGIH stock opened at $71.08 on Wednesday. LGI Homes, Inc. has a 52 week low of $68.66 and a 52 week high of $125.83. The firm has a market capitalization of $1.66 billion, a P/E ratio of 8.52 and a beta of 2.03. The company has a fifty day simple moving average of $86.08 and a two-hundred day simple moving average of $100.18. 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 announced its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.16). The business had revenue of $557.40 million during the quarter, compared to the consensus estimate of $588.56 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The firm’s revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.19 EPS. Analysts anticipate that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal 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.