LGI Homes, Inc. (NASDAQ:LGIH) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 21.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 29,358 shares of the financial services provider’s stock after acquiring an additional 5,159 shares during the quarter. American Century Companies Inc.’s holdings in LGI Homes were worth $2,627,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System lifted its position in shares of LGI Homes by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the financial services provider’s stock valued at $922,000 after acquiring an additional 100 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in LGI Homes by 32.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 108 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of LGI Homes by 1.9% during the second quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock worth $532,000 after buying an additional 112 shares in the last quarter. Sei Investments Co. raised its position in shares of LGI Homes by 3.3% in the first quarter. Sei Investments Co. now owns 3,970 shares of the financial services provider’s stock valued at $462,000 after buying an additional 126 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of LGI Homes by 5.5% in the first quarter. Inspire Investing LLC now owns 3,037 shares of the financial services provider’s stock worth $353,000 after buying an additional 159 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Price Performance

LGI Homes stock opened at $117.74 on Friday. 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 company has a 50-day moving average price of $108.08 and a 200 day moving average price of $101.83. LGI Homes, Inc. has a 12-month low of $84.00 and a 12-month high of $136.89. The stock has a market cap of $2.77 billion, a P/E ratio of 14.72 and a beta of 1.95.

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

Analyst Upgrades and Downgrades

LGIH has been the subject of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Wedbush upgraded LGI Homes from an “underperform” rating to a “neutral” rating and upped their price target for the company from $97.00 to $125.00 in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $126.00.

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.