Everence Capital Management Inc. Sells 860 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Everence Capital Management Inc. cut its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 21.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,120 shares of the financial services provider’s stock after selling 860 shares during the period. Everence Capital Management Inc.’s holdings in LGI Homes were worth $279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Denali Advisors LLC bought a new stake in shares of LGI Homes in the second quarter valued at about $993,000. Citigroup Inc. grew its holdings in shares of LGI Homes by 60.9% during the 3rd quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock worth $4,954,000 after purchasing an additional 15,818 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of LGI Homes by 5.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 176 shares during the period. American Century Companies Inc. raised its stake in shares of LGI Homes by 21.3% in the second quarter. American Century Companies Inc. now owns 29,358 shares of the financial services provider’s stock valued at $2,627,000 after purchasing an additional 5,159 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its position in LGI Homes by 1.7% in the second quarter. Disciplined Growth Investors Inc. MN now owns 906,198 shares of the financial services provider’s stock worth $81,096,000 after purchasing an additional 15,340 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Down 2.6 %

Shares of NASDAQ:LGIH opened at $84.65 on Wednesday. The company has a market capitalization of $1.99 billion, a PE ratio of 10.15 and a beta of 2.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The company’s fifty day moving average is $100.72 and its 200-day moving average is $103.84. LGI Homes, Inc. has a 52 week low of $84.00 and a 52 week high of $130.75.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The firm had revenue of $651.85 million for the quarter, compared to analysts’ expectations of $645.27 million. During the same period in the prior year, the firm earned $2.84 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts predict that LGI Homes, Inc. will post 8.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wedbush reissued a “neutral” rating and issued a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of LGI Homes from $100.00 to $82.00 and set an “underweight” rating for the company in a research note on Friday, December 13th.

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.