State Street Corp Has $128.78 Million Position in LGI Homes, Inc. (NASDAQ:LGIH)

State Street Corp cut its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,086,598 shares of the financial services provider’s stock after selling 75,760 shares during the quarter. State Street Corp’s holdings in LGI Homes were worth $128,784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Innealta Capital LLC bought a new position in LGI Homes in the second quarter valued at approximately $39,000. First Horizon Advisors Inc. raised its holdings in shares of LGI Homes by 32.5% during the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 108 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of LGI Homes during the third quarter worth $43,000. KBC Group NV lifted its position in LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 168 shares in the last quarter. Finally, CWM LLC boosted its stake in LGI Homes by 27.5% in the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 187 shares during the period. 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 reissued a “neutral” rating and issued a $125.00 price target on shares of LGI Homes in a research note on Wednesday, November 6th. JPMorgan Chase & Co. cut their target price on LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a research note on Friday.

LGI Homes Trading Down 2.5 %

Shares of NASDAQ:LGIH opened at $99.85 on Friday. The company’s 50-day moving average price is $107.15 and its two-hundred day moving average price is $104.21. LGI Homes, Inc. has a one year low of $84.00 and a one year high of $136.89. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The stock has a market capitalization of $2.35 billion, a PE ratio of 11.97 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. During the same quarter in the prior year, the company posted $2.84 earnings per share. LGI Homes’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts forecast that LGI Homes, Inc. will post 8.72 EPS for the current fiscal 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.