LGI Homes, Inc. (NASDAQ:LGIH) Shares Sold by Quest Partners LLC

Quest Partners LLC cut its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 94.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 486 shares of the financial services provider’s stock after selling 7,816 shares during the quarter. Quest Partners LLC’s holdings in LGI Homes were worth $43,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP increased its position in shares of LGI Homes by 4.3% in the fourth quarter. Wasatch Advisors LP now owns 1,328,778 shares of the financial services provider’s stock valued at $176,940,000 after buying an additional 54,606 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in LGI Homes in the 1st quarter valued at about $583,000. CDAM UK Ltd increased its holdings in LGI Homes by 14.7% during the 4th quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock valued at $89,878,000 after acquiring an additional 86,265 shares in the last quarter. First Eagle Investment Management LLC raised its position in LGI Homes by 27.0% during the first quarter. First Eagle Investment Management LLC now owns 86,415 shares of the financial services provider’s stock worth $10,056,000 after acquiring an additional 18,350 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in LGI Homes during the first quarter worth about $1,298,000. 84.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on LGIH shares. Wedbush upgraded shares of LGI Homes from an “underperform” rating to a “neutral” rating and increased their price target for the company from $97.00 to $125.00 in a research report on Monday, September 9th. JPMorgan Chase & Co. dropped their price target on LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $126.00.

LGI Homes Stock Performance

Shares of NASDAQ LGIH opened at $120.53 on Thursday. The company has a 50-day simple moving average of $106.06 and a 200-day simple moving average of $101.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 12.63 and a quick ratio of 0.49. The company has a market cap of $2.84 billion, a PE ratio of 15.07 and a beta of 1.95. LGI Homes, Inc. has a 12 month low of $84.00 and a 12 month high of $136.89.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, July 30th. The financial services provider reported $2.48 EPS for the quarter, topping the consensus estimate of $2.24 by $0.24. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The firm had revenue of $602.50 million during the quarter, compared to analysts’ expectations of $617.44 million. During the same period in the previous year, the company earned $2.25 EPS. LGI Homes’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities analysts anticipate that LGI Homes, Inc. will post 9.01 earnings per share for the current 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.