Anomaly Capital Management LP Takes $4.64 Million Position in LGI Homes, Inc. (NASDAQ:LGIH)

Anomaly Capital Management LP bought a new position in LGI Homes, Inc. (NASDAQ:LGIH) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 51,808 shares of the financial services provider’s stock, valued at approximately $4,636,000. LGI Homes makes up 0.2% of Anomaly Capital Management LP’s holdings, making the stock its 29th largest position.

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. lifted 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 buying an additional 108 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of LGI Homes in the 2nd quarter valued at $39,000. Mather Group LLC. acquired a new position in shares of LGI Homes during the 1st quarter valued at $47,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in LGI Homes during the 1st quarter worth $52,000. Finally, Headlands Technologies LLC acquired a new stake in LGI Homes in the 1st quarter valued at $130,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

Analysts Set New Price Targets

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

LGI Homes Stock Down 3.9 %

LGIH stock opened at $118.72 on Monday. 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 firm has a 50 day simple moving average of $106.89 and a 200-day simple moving average of $101.57. The company has a market capitalization of $2.80 billion, a P/E ratio of 14.84 and a beta of 1.95. LGI Homes, Inc. has a twelve month low of $84.00 and a twelve 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 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.24. The company had revenue of $602.50 million during the quarter, compared to the consensus estimate of $617.44 million. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The company’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 EPS. On average, equities research analysts predict that LGI Homes, Inc. will post 9.01 earnings per share for the current fiscal year.

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.