Geode Capital Management LLC Acquires 7,129 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Geode Capital Management LLC raised its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 1.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 497,039 shares of the financial services provider’s stock after buying an additional 7,129 shares during the quarter. Geode Capital Management LLC owned 2.11% of LGI Homes worth $58,920,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LGIH. Innealta Capital LLC bought a new stake in shares of LGI Homes in the second quarter valued at approximately $39,000. Allspring Global Investments Holdings LLC bought a new stake in LGI Homes in the 3rd quarter valued at $43,000. KBC Group NV boosted its holdings 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 purchasing an additional 168 shares during the period. CWM LLC grew its position 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 last quarter. Finally, Heritage Family Offices LLP bought a new position in shares of LGI Homes during the 3rd quarter worth about $218,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

Analyst Ratings Changes

LGIH has been the subject of several research reports. JPMorgan Chase & Co. reduced their target price on shares of LGI Homes from $100.00 to $82.00 and set an “underweight” rating for the company in a research note on Friday, December 13th. Wedbush reissued a “neutral” rating and set a $125.00 price objective on shares of LGI Homes in a report on Wednesday, November 6th.

LGI Homes Price Performance

Shares of LGI Homes stock opened at $91.20 on Friday. The firm has a market cap of $2.14 billion, a P/E ratio of 10.94 and a beta of 1.99. The firm’s 50-day simple moving average is $105.53 and its 200-day simple moving average is $104.11. LGI Homes, Inc. has a twelve month low of $84.00 and a twelve month high of $136.89. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.41. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company had revenue of $651.85 million for the quarter, compared to the consensus estimate of $645.27 million. During the same period in the previous year, the business earned $2.84 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, research analysts expect 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.