Trexquant Investment LP acquired a new stake in LGI Homes Inc (NASDAQ:LGIH) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,904 shares of the financial services provider’s stock, valued at approximately $328,000.
Several other hedge funds have also made changes to their positions in LGIH. Frontier Capital Management Co. LLC raised its stake in shares of LGI Homes by 104.0% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,243,244 shares of the financial services provider’s stock valued at $58,979,000 after buying an additional 633,714 shares in the last quarter. FMR LLC increased its position in shares of LGI Homes by 52.0% during the 3rd quarter. FMR LLC now owns 1,690,144 shares of the financial services provider’s stock worth $80,181,000 after purchasing an additional 577,909 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of LGI Homes by 22.9% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,257,436 shares of the financial services provider’s stock worth $72,591,000 after purchasing an additional 234,406 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of LGI Homes during the 3rd quarter worth about $6,932,000. Finally, BlackRock Inc. increased its position in shares of LGI Homes by 4.8% during the 2nd quarter. BlackRock Inc. now owns 2,719,627 shares of the financial services provider’s stock worth $157,003,000 after purchasing an additional 124,283 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.
In related news, Director Ryan Edone acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, November 13th. The shares were purchased at an average price of $41.12 per share, with a total value of $41,120.00. Following the acquisition, the director now directly owns 23,982 shares in the company, valued at $986,139.84. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 13.60% of the stock is owned by corporate insiders.
Shares of LGI Homes stock opened at $44.41 on Friday. The stock has a market cap of $1.00 billion, a P/E ratio of 9.39, a PEG ratio of 0.65 and a beta of 0.26. The company has a quick ratio of 1.21, a current ratio of 13.89 and a debt-to-equity ratio of 1.02. LGI Homes Inc has a 12-month low of $37.16 and a 12-month high of $81.88.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, November 6th. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. LGI Homes had a net margin of 9.99% and a return on equity of 27.08%. The firm had revenue of $380.37 million for the quarter, compared to analyst estimates of $378.96 million. During the same quarter in the prior year, the firm earned $1.40 EPS. The company’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that LGI Homes Inc will post 6.21 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of LGI Homes from a “strong sell” rating to a “sell” rating in a research report on Friday, August 10th. Zacks Investment Research upgraded shares of LGI Homes from a “sell” rating to a “hold” rating and set a $66.00 target price for the company in a research report on Friday, August 10th. ValuEngine upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. JPMorgan Chase & Co. upgraded shares of LGI Homes from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $69.00 to $58.50 in a research report on Friday, September 21st. Finally, Wedbush set a $55.00 target price on shares of LGI Homes and gave the stock a “hold” rating in a research report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $56.70.
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LGI Homes Profile
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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