Bank of Montreal Can Has $8.55 Million Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Bank of Montreal Can grew its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 2,629.8% in the second quarter, Holdings Channel reports. The institutional investor owned 86,889 shares of the financial services provider’s stock after purchasing an additional 83,706 shares during the period. Bank of Montreal Can’s holdings in LGI Homes were worth $8,550,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of LGI Homes in the fourth quarter valued at $7,776,000. Rafferty Asset Management LLC boosted its position in shares of LGI Homes by 21.9% during the 4th quarter. Rafferty Asset Management LLC now owns 14,770 shares of the financial services provider’s stock valued at $1,967,000 after acquiring an additional 2,656 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of LGI Homes by 2,876.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,453 shares of the financial services provider’s stock valued at $1,791,000 after acquiring an additional 13,001 shares in the last quarter. First National Bank of Omaha grew its stake in shares of LGI Homes by 5.9% in the 4th quarter. First National Bank of Omaha now owns 14,436 shares of the financial services provider’s stock valued at $1,922,000 after purchasing an additional 802 shares during the period. Finally, Wasatch Advisors LP grew its position in 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 acquiring an additional 54,606 shares during the period. Institutional investors own 84.89% of the company’s stock.

LGI Homes Trading Up 0.7 %

Shares of NASDAQ LGIH opened at $118.52 on Tuesday. LGI Homes, Inc. has a 1-year low of $84.00 and a 1-year high of $136.89. The company has a 50-day moving average of $108.38 and a two-hundred day moving average of $101.75. The company has a market cap of $2.79 billion, a PE ratio of 14.82 and a beta of 1.95. The company has a current ratio of 12.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on LGIH. 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 research note on Monday, September 9th. JPMorgan Chase & Co. dropped their target price on shares of 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 research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, LGI Homes currently has an average rating of “Hold” and a consensus target price of $126.00.

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.