Aristeia Capital L.L.C. Lowers Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Aristeia Capital L.L.C. reduced its position in LGI Homes, Inc. (NASDAQ:LGIH) by 12.9% in the second quarter, Holdings Channel.com reports. The fund owned 3,057 shares of the financial services provider’s stock after selling 452 shares during the quarter. Aristeia Capital L.L.C.’s holdings in LGI Homes were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LGIH. Wasatch Advisors LP boosted its holdings 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 purchasing an additional 54,606 shares during the period. UniSuper Management Pty Ltd purchased a new position in LGI Homes during the first quarter worth about $583,000. CDAM UK Ltd grew its position in LGI Homes by 14.7% during the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock worth $89,878,000 after buying an additional 86,265 shares in the last quarter. First Eagle Investment Management LLC increased its stake in LGI Homes by 27.0% in the 1st quarter. First Eagle Investment Management LLC now owns 86,415 shares of the financial services provider’s stock worth $10,056,000 after acquiring an additional 18,350 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of LGI Homes in the 1st quarter valued at about $1,298,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Analyst Upgrades and Downgrades

LGIH has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Wedbush upgraded shares of LGI Homes from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $97.00 to $125.00 in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $126.00.

LGI Homes Trading Down 1.5 %

Shares of LGIH stock opened at $116.25 on Wednesday. The business has a 50-day moving average price of $107.44 and a two-hundred day moving average price of $101.63. LGI Homes, Inc. has a 12-month low of $84.00 and a 12-month high of $136.89. 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 firm has a market cap of $2.73 billion, a P/E ratio of 14.53 and a beta of 1.95.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.24. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. The company had revenue of $602.50 million during the quarter, compared to the consensus estimate of $617.44 million. During the same quarter in the previous year, the company posted $2.25 EPS. LGI Homes’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities analysts anticipate that LGI Homes, Inc. will post 9.01 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.