LGI Homes, Inc. (NASDAQ:LGIH) Position Trimmed by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,900 shares of the financial services provider’s stock after selling 103 shares during the period. Public Employees Retirement Association of Colorado’s holdings in LGI Homes were worth $260,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. First Horizon Advisors Inc. increased its stake in 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 period. Innealta Capital LLC purchased a new position in shares of LGI Homes during the 2nd quarter valued at $39,000. Mather Group LLC. acquired a new position in shares of LGI Homes in the first quarter worth $47,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of LGI Homes in the first quarter worth $52,000. Finally, Headlands Technologies LLC purchased a new stake in shares of LGI Homes during the first quarter worth $130,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Price Performance

NASDAQ LGIH opened at $117.74 on Friday. LGI Homes, Inc. has a fifty-two week low of $84.00 and a fifty-two week high of $136.89. The stock’s 50-day moving average is $108.08 and its two-hundred day moving average is $101.76. The firm has a market cap of $2.77 billion, a P/E ratio of 14.72 and a beta of 1.95. The company has a debt-to-equity ratio of 0.78, a current ratio of 12.63 and a quick ratio of 0.49.

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

Wall Street Analyst Weigh In

LGIH has been the topic of several research reports. JPMorgan Chase & Co. dropped their target price on LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Wedbush upgraded LGI Homes from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $97.00 to $125.00 in a report on Monday, September 9th. Two 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. According to MarketBeat.com, LGI Homes currently has a consensus rating of “Hold” and a consensus 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.