Mutual of America Capital Management LLC Trims Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Mutual of America Capital Management LLC lowered its position in LGI Homes, Inc. (NASDAQ:LGIH) by 7.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,111 shares of the financial services provider’s stock after selling 259 shares during the period. Mutual of America Capital Management LLC’s holdings in LGI Homes were worth $369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd increased its stake in LGI Homes by 5,860.2% in the 2nd quarter. Altshuler Shaham Ltd now owns 454,760 shares of the financial services provider’s stock worth $40,696,000 after acquiring an additional 447,130 shares during the last quarter. Khrom Capital Management LLC purchased a new stake in LGI Homes in the second quarter valued at approximately $21,477,000. River Road Asset Management LLC grew its stake in LGI Homes by 45.9% in the 3rd quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider’s stock worth $82,425,000 after buying an additional 218,923 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of LGI Homes by 51.8% in the 2nd quarter. Marshall Wace LLP now owns 269,798 shares of the financial services provider’s stock worth $24,144,000 after buying an additional 92,081 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of LGI Homes by 2,629.8% during the 2nd quarter. Bank of Montreal Can now owns 86,889 shares of the financial services provider’s stock valued at $8,550,000 after buying an additional 83,706 shares in the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued a “neutral” rating and issued a $125.00 target price on shares of LGI Homes in a research note on Wednesday, November 6th.

LGI Homes Stock Up 1.1 %

Shares of NASDAQ LGIH opened at $110.30 on Thursday. The stock has a market capitalization of $2.59 billion, a P/E ratio of 13.08 and a beta of 1.97. LGI Homes, Inc. has a one year low of $84.00 and a one year high of $136.89. The firm’s 50 day simple moving average is $109.75 and its two-hundred day simple moving average is $103.59. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.54 by $0.41. The company had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.84 EPS. As a group, analysts expect that LGI Homes, Inc. will post 8.72 EPS 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.