LGI Homes, Inc. (NASDAQ:LGIH) Position Lowered by Rhumbline Advisers

Rhumbline Advisers decreased its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 63,775 shares of the financial services provider’s stock after selling 375 shares during the quarter. Rhumbline Advisers’ holdings in LGI Homes were worth $5,707,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Louisiana State Employees Retirement System lifted its position in shares of LGI Homes by 1.0% during 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 during the last quarter. First Horizon Advisors Inc. lifted its holdings in 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 acquiring an additional 108 shares during the last quarter. Sei Investments Co. lifted its holdings in LGI Homes by 3.3% in the first quarter. Sei Investments Co. now owns 3,970 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 126 shares during the last quarter. Inspire Investing LLC lifted its holdings in LGI Homes by 5.5% in the first quarter. Inspire Investing LLC now owns 3,037 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 159 shares during the last quarter. Finally, Pitcairn Co. lifted its holdings in LGI Homes by 6.5% in the first quarter. Pitcairn Co. now owns 2,776 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 170 shares during the last quarter. Institutional investors own 84.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LGIH shares. Wedbush raised shares of LGI Homes from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $97.00 to $125.00 in a report on Monday, September 9th. JPMorgan Chase & Co. cut 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, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, LGI Homes presently has a consensus rating of “Hold” and a consensus target price of $126.00.

LGI Homes Price Performance

Shares of NASDAQ:LGIH opened at $114.47 on Friday. The firm’s 50 day moving average is $104.12 and its two-hundred day moving average is $101.44. LGI Homes, Inc. has a 52 week low of $84.00 and a 52 week high of $136.89. The firm has a market capitalization of $2.69 billion, a P/E ratio of 14.31 and a beta of 1.95. 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 (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.48 EPS for the quarter, beating the consensus estimate of $2.24 by $0.24. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The company had revenue of $602.50 million for the quarter, compared to analyst estimates of $617.44 million. During the same quarter last year, the business earned $2.25 earnings per share. LGI Homes’s revenue was down 6.6% compared to the same quarter last year. Analysts anticipate that LGI Homes, Inc. will post 9.01 earnings per share for the current 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.