BI Asset Management Fondsmaeglerselskab A S Purchases New Position in LGI Homes, Inc. (NASDAQ:LGIH)

BI Asset Management Fondsmaeglerselskab A S acquired a new position in LGI Homes, Inc. (NASDAQ:LGIH) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 447 shares of the financial services provider’s stock, valued at approximately $52,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LGIH. Wasatch Advisors LP grew its position in LGI Homes by 9.9% in the first quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock worth $169,929,000 after acquiring an additional 131,467 shares in the last quarter. CDAM UK Ltd boosted its holdings in LGI Homes by 14.7% in the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock worth $89,878,000 after purchasing an additional 86,265 shares in the last quarter. Ampfield Management L.P. increased its position in LGI Homes by 13.0% during the fourth quarter. Ampfield Management L.P. now owns 571,857 shares of the financial services provider’s stock worth $76,148,000 after buying an additional 65,609 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in LGI Homes by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,443,038 shares of the financial services provider’s stock valued at $192,158,000 after buying an additional 58,850 shares in the last quarter. Finally, Norges Bank bought a new position in LGI Homes during the fourth quarter valued at about $7,776,000. Institutional investors own 84.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a report on Wednesday. Wedbush reissued an “underperform” rating and issued a $74.00 price target on shares of LGI Homes in a research report on Thursday, June 6th. StockNews.com downgraded shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday, April 5th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, LGI Homes has an average rating of “Hold” and an average price target of $107.50.

LGI Homes Stock Performance

Shares of NASDAQ LGIH opened at $100.89 on Friday. LGI Homes, Inc. has a 12 month low of $84.00 and a 12 month high of $141.91. The company has a market cap of $2.38 billion, a P/E ratio of 12.61 and a beta of 1.92. The business’s 50 day moving average is $94.68 and its two-hundred day moving average is $107.01. The company has a quick ratio of 0.43, a current ratio of 12.36 and a debt-to-equity ratio of 0.74.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.30). The company had revenue of $390.90 million during the quarter, compared to analyst estimates of $400.00 million. LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. The company’s revenue was down 19.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. On average, equities analysts expect that LGI Homes, Inc. will post 8.95 EPS for the current 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.