UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,837 shares of the financial services provider’s stock after selling 2,942 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in LGI Homes were worth $4,366,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of LGI Homes in the 2nd quarter valued at $39,000. First Horizon Advisors Inc. grew its position 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 buying an additional 108 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of LGI Homes in the 3rd quarter valued at $43,000. KBC Group NV grew its position in shares of LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after buying an additional 168 shares during the last quarter. Finally, CWM LLC grew its position 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 buying an additional 187 shares during the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

LGI Homes Trading Down 2.0 %

Shares of LGI Homes stock opened at $102.39 on Friday. LGI Homes, Inc. has a 1 year low of $84.00 and a 1 year high of $136.89. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The company has a market capitalization of $2.41 billion, a P/E ratio of 12.28 and a beta of 1.99. The company’s fifty day moving average is $107.39 and its two-hundred day moving average is $104.11.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company had revenue of $651.85 million for the quarter, compared to the consensus estimate of $645.27 million. During the same period last year, the firm posted $2.84 EPS. LGI Homes’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts forecast that LGI Homes, Inc. will post 8.72 earnings per share for the current year.

LGI Homes 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.