First Trust Direct Indexing L.P. Buys New Position in LGI Homes, Inc. (NASDAQ:LGIH)

First Trust Direct Indexing L.P. bought a new stake in LGI Homes, Inc. (NASDAQ:LGIH) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,981 shares of the financial services provider’s stock, valued at approximately $235,000.

A number of other large investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System lifted its position in shares of LGI Homes by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the financial services provider’s stock worth $922,000 after purchasing an additional 100 shares in the last quarter. First Horizon Advisors Inc. increased its stake in LGI Homes by 32.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock valued at $39,000 after buying an additional 108 shares during the last quarter. Arizona State Retirement System lifted its position in LGI Homes by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock worth $532,000 after buying an additional 112 shares in the last quarter. Sei Investments Co. boosted its stake in shares of LGI Homes by 3.3% during the 1st quarter. Sei Investments Co. now owns 3,970 shares of the financial services provider’s stock worth $462,000 after buying an additional 126 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of LGI Homes by 5.5% in the 1st quarter. Inspire Investing LLC now owns 3,037 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 159 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $111.16 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 12.63 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average price is $110.42 and its two-hundred day moving average price is $102.51. The company has a market cap of $2.61 billion, a PE ratio of 13.51 and a beta of 1.97. LGI Homes, Inc. has a twelve month low of $84.00 and a twelve month high of $136.89.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wedbush reissued a “neutral” rating and set a $125.00 price target on shares of LGI Homes in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their target price 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 investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $126.00.

LGI Homes Company 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.