Inspire Investing LLC Reduces Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Inspire Investing LLC lessened its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 11.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,488 shares of the financial services provider’s stock after selling 467 shares during the quarter. Inspire Investing LLC’s holdings in LGI Homes were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LGIH. Mather Group LLC. acquired a new stake in LGI Homes during the 1st quarter worth about $47,000. First Horizon Advisors Inc. boosted its stake in shares of LGI Homes by 32.5% in the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after buying an additional 108 shares during the last quarter. Innealta Capital LLC acquired a new stake in LGI Homes during the second quarter worth about $39,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in LGI Homes during the first quarter worth about $52,000. Finally, CWM LLC raised its position in LGI Homes by 27.5% during the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 187 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LGIH has been the topic of several recent research reports. Wedbush restated a “neutral” rating and issued a $125.00 price objective on shares of LGI Homes in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their price target on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $126.00.

LGI Homes Stock Performance

NASDAQ LGIH opened at $116.19 on Thursday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 14.52 and a beta of 1.95. The stock has a 50-day moving average of $109.66 and a 200 day moving average of $101.80. The company has a current ratio of 12.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. LGI Homes, Inc. has a twelve month low of $84.00 and a twelve month high of $136.89.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.24. The firm had revenue of $602.50 million for the quarter, compared to analyst estimates of $617.44 million. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.25 EPS. Sell-side analysts anticipate that LGI Homes, Inc. will post 8.82 EPS 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.