LGI Homes, Inc. $LGIH Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lowered its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 70.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 183,792 shares of the financial services provider’s stock after selling 447,995 shares during the period. Wasatch Advisors LP owned about 0.79% of LGI Homes worth $7,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LGIH. Caitong International Asset Management Co. Ltd grew its holdings in LGI Homes by 75.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 237 shares during the period. Los Angeles Capital Management LLC acquired a new position in LGI Homes in the fourth quarter valued at approximately $29,000. Russell Investments Group Ltd. lifted 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 acquiring an additional 305 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in LGI Homes in the 4th quarter worth approximately $32,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of LGI Homes by 1,759.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 827 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Stock Up 5.0%

Shares of NASDAQ LGIH opened at $65.75 on Friday. LGI Homes, Inc. has a 52-week low of $33.55 and a 52-week high of $69.50. The company has a quick ratio of 0.70, a current ratio of 18.56 and a debt-to-equity ratio of 0.81. The company’s 50-day simple moving average is $49.10 and its 200-day simple moving average is $47.79. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 21.56 and a beta of 1.87.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.22. LGI Homes had a return on equity of 3.80% and a net margin of 4.22%.The company had revenue of $319.74 million for the quarter, compared to analysts’ expectations of $328.22 million. During the same period in the previous year, the firm posted $0.17 EPS. LGI Homes’s revenue was down 9.0% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LGIH. JPMorgan Chase & Co. lifted their target price on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Zacks Research upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Wall Street Zen raised shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research report on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, LGI Homes currently has a consensus rating of “Hold” and a consensus target price of $72.75.

LGI Homes Profile

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.