Pinnacle Holdings LLC Makes New Investment in LGI Homes, Inc. $LGIH

Pinnacle Holdings LLC acquired a new stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,712 shares of the financial services provider’s stock, valued at approximately $937,000.

Other large investors have also made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of LGI Homes by 58.7% in the first quarter. Royal Bank of Canada now owns 4,721 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 1,746 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in LGI Homes by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider’s stock valued at $831,000 after purchasing an additional 621 shares during the period. Goldman Sachs Group Inc. boosted its holdings in LGI Homes by 5.3% in the first quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock valued at $16,627,000 after purchasing an additional 12,524 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 305 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of LGI Homes by 19.0% during the 2nd quarter. Invesco Ltd. now owns 85,400 shares of the financial services provider’s stock valued at $4,400,000 after buying an additional 13,611 shares during the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Price Performance

LGIH opened at $58.16 on Monday. The company has a fifty day moving average of $58.68 and a two-hundred day moving average of $50.88. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 20.41 and a beta of 1.83. LGI Homes, Inc. has a fifty-two week low of $33.55 and a fifty-two week high of $69.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 17.74.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The business had revenue of $516.05 million for the quarter, compared to analyst estimates of $489.23 million. During the same period in the prior year, the company posted $1.36 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Weiss Ratings downgraded LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Finally, Wall Street Zen raised LGI Homes from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, LGI Homes presently has an average rating of “Hold” and a consensus target price of $72.75.

About LGI Homes

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.