PNC Financial Services Group Inc. Lowers Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

PNC Financial Services Group Inc. trimmed its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,454 shares of the financial services provider’s stock after selling 203 shares during the period. PNC Financial Services Group Inc.’s holdings in LGI Homes were worth $726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its position in LGI Homes by 4.3% in the 4th quarter. Wasatch Advisors LP now owns 1,328,778 shares of the financial services provider’s stock valued at $176,940,000 after buying an additional 54,606 shares during the period. CDAM UK Ltd raised its holdings in shares of LGI Homes by 14.7% in the 4th quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock valued at $89,878,000 after purchasing an additional 86,265 shares in the last quarter. Tributary Capital Management LLC raised its holdings in shares of LGI Homes by 24.5% in the 4th quarter. Tributary Capital Management LLC now owns 133,742 shares of the financial services provider’s stock valued at $17,809,000 after purchasing an additional 26,280 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of LGI Homes by 102.7% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 35,149 shares of the financial services provider’s stock valued at $4,680,000 after purchasing an additional 17,811 shares in the last quarter. Finally, Polen Capital Management LLC bought a new stake in shares of LGI Homes in the 4th quarter valued at about $3,360,000. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Trading Down 3.6 %

NASDAQ LGIH opened at $88.09 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 12.36 and a debt-to-equity ratio of 0.74. The firm has a market cap of $2.08 billion, a PE ratio of 11.01 and a beta of 1.91. The company has a 50 day moving average price of $95.71 and a 200 day moving average price of $110.13. LGI Homes, Inc. has a 52 week low of $84.15 and a 52 week high of $141.91.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.72 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.30). The firm had revenue of $390.90 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 EPS. As a group, sell-side analysts forecast that LGI Homes, Inc. will post 9.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on LGIH. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Wedbush restated an “underperform” rating and issued a $74.00 price target on shares of LGI Homes in a report on Thursday, June 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a report on Friday, April 5th. Three research 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $110.50.

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.