Zurcher Kantonalbank Zurich Cantonalbank Buys 1,434 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 44.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,676 shares of the financial services provider’s stock after purchasing an additional 1,434 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in LGI Homes were worth $554,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in LGI Homes in the 3rd quarter valued at about $43,000. Innealta Capital LLC bought a new position in LGI Homes in the second quarter valued at approximately $39,000. First Horizon Advisors Inc. raised its position in LGI Homes by 32.5% during the second 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 in the last quarter. KBC Group NV lifted its stake in LGI Homes by 29.8% during the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 168 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of LGI Homes by 27.5% in the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued a “neutral” rating and set a $125.00 price target on shares of LGI Homes in a report on Wednesday, November 6th.

LGI Homes Price Performance

Shares of NASDAQ:LGIH opened at $105.42 on Friday. LGI Homes, Inc. has a one year low of $84.00 and a one year high of $136.89. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 12.64 and a beta of 1.99. The firm has a 50 day simple moving average of $108.31 and a 200 day simple moving average of $103.90.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.41. The company had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. LGI Homes’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.84 EPS. Research analysts predict that LGI Homes, Inc. will post 8.72 earnings per share 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.