Louisiana State Employees Retirement System Sells 300 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Louisiana State Employees Retirement System decreased its position in LGI Homes, Inc. (NASDAQ:LGIH) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,000 shares of the financial services provider’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in LGI Homes were worth $1,185,000 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 the company. First Horizon Advisors Inc. boosted its stake in shares of LGI Homes by 32.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 108 shares during the last quarter. Arizona State Retirement System grew its holdings in LGI Homes by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock worth $532,000 after acquiring an additional 112 shares during the period. Sei Investments Co. raised its position in shares of LGI Homes by 3.3% during the 1st quarter. Sei Investments Co. now owns 3,970 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 126 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of LGI Homes by 5.5% in the 1st quarter. Inspire Investing LLC now owns 3,037 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 159 shares during the period. Finally, Pitcairn Co. boosted its position in shares of LGI Homes by 6.5% in the 1st quarter. Pitcairn Co. now owns 2,776 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 170 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Performance

Shares of LGI Homes stock opened at $102.52 on Friday. LGI Homes, Inc. has a 12 month low of $84.00 and a 12 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. The company has a market capitalization of $2.41 billion, a PE ratio of 12.46 and a beta of 1.97. The stock’s fifty day simple moving average is $110.58 and its 200 day simple moving average is $102.20.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped 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 reiterated a “neutral” rating and issued a $125.00 price target on shares of LGI Homes in a research report on Friday, October 4th. Two equities 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 MarketBeat, the company has a consensus rating of “Hold” and an average target price of $126.00.

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.