LGI Homes, Inc. (NASDAQ:LGIH) Shares Bought by Cim LLC

Cim LLC lifted its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 16.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,320 shares of the financial services provider’s stock after buying an additional 625 shares during the period. Cim LLC’s holdings in LGI Homes were worth $387,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in LGI Homes in the fourth quarter valued at approximately $7,776,000. Rafferty Asset Management LLC grew its holdings in LGI Homes by 21.9% during the 4th quarter. Rafferty Asset Management LLC now owns 14,770 shares of the financial services provider’s stock valued at $1,967,000 after purchasing an additional 2,656 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in LGI Homes by 2,876.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,453 shares of the financial services provider’s stock worth $1,791,000 after buying an additional 13,001 shares during the period. First National Bank of Omaha lifted its holdings in LGI Homes by 5.9% in the 4th quarter. First National Bank of Omaha now owns 14,436 shares of the financial services provider’s stock worth $1,922,000 after buying an additional 802 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in LGI Homes by 4.3% in the 4th quarter. Wasatch Advisors LP now owns 1,328,778 shares of the financial services provider’s stock valued at $176,940,000 after buying an additional 54,606 shares during the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Price Performance

LGIH opened at $118.18 on Wednesday. The company has a market capitalization of $2.79 billion, a P/E ratio of 14.77 and a beta of 1.95. The company has a 50-day moving average of $108.38 and a 200-day moving average of $101.75. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 12.63. LGI Homes, Inc. has a 1-year low of $84.00 and a 1-year high of $136.89.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.24. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. The firm had revenue of $602.50 million during the quarter, compared to analyst estimates of $617.44 million. During the same period in the previous year, the company earned $2.25 earnings per share. LGI Homes’s quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts expect that LGI Homes, Inc. will post 9.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LGIH. JPMorgan Chase & Co. dropped their target price on LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Wedbush upgraded LGI Homes from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $97.00 to $125.00 in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $126.00.

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.