LGI Homes, Inc. (NASDAQ:LGIH) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 7.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,859 shares of the financial services provider’s stock after buying an additional 775 shares during the period. The Manufacturers Life Insurance Company’s holdings in LGI Homes were worth $1,061,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. UniSuper Management Pty Ltd acquired a new position in shares of LGI Homes in the 1st quarter valued at about $583,000. First Eagle Investment Management LLC boosted its holdings in shares of 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 valued at $10,056,000 after buying an additional 18,350 shares during the period. GSA Capital Partners LLP acquired a new position in shares of LGI Homes in the 1st quarter valued at about $1,298,000. BNP Paribas Financial Markets boosted its holdings in shares of LGI Homes by 28.6% in the 1st quarter. BNP Paribas Financial Markets now owns 34,290 shares of the financial services provider’s stock valued at $3,990,000 after buying an additional 7,616 shares during the period. Finally, Denali Advisors LLC acquired a new position in LGI Homes during the 2nd quarter valued at about $993,000. 84.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on LGIH shares. JPMorgan Chase & Co. reduced their target price on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Wedbush reissued a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $126.00.

LGI Homes Trading Up 2.6 %

Shares of NASDAQ:LGIH opened at $112.10 on Friday. The company has a 50 day moving average of $109.17 and a 200-day moving average of $101.92. The firm has a market cap of $2.64 billion, a P/E ratio of 14.01 and a beta of 1.95. LGI Homes, Inc. has a twelve month low of $84.00 and a twelve month high of $136.89. 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 issued its quarterly 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. The company had revenue of $602.50 million during the quarter, compared to analyst estimates of $617.44 million. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 EPS. As a group, analysts anticipate that LGI Homes, Inc. will post 8.82 earnings per share for the current fiscal year.

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.