Geode Capital Management LLC Has $58.92 Million Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

Geode Capital Management LLC raised its position in LGI Homes, Inc. (NASDAQ:LGIH) by 1.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 497,039 shares of the financial services provider’s stock after purchasing an additional 7,129 shares during the quarter. Geode Capital Management LLC’s holdings in LGI Homes were worth $58,920,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of LGI Homes in the second quarter valued at approximately $39,000. Allspring Global Investments Holdings LLC acquired a new stake in LGI Homes during the 3rd quarter valued at $43,000. KBC Group NV raised its position in 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 purchasing an additional 168 shares during the last quarter. CWM LLC raised its position in 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 during the last quarter. Finally, Heritage Family Offices LLP acquired a new position in LGI Homes in the third quarter worth $218,000. 84.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

LGIH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on LGI Homes from $100.00 to $82.00 and set an “underweight” rating for the company in a report on Friday, December 13th. Wedbush reiterated a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a research report on Wednesday, November 6th.

LGI Homes Price Performance

Shares of LGIH opened at $91.20 on Friday. The stock has a 50 day simple moving average of $105.53 and a 200 day simple moving average of $104.11. LGI Homes, Inc. has a 52-week low of $84.00 and a 52-week 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 firm has a market capitalization of $2.14 billion, a PE ratio of 10.94 and a beta of 1.99.

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