Alps Advisors Inc. Increases Position in LGI Homes Inc (LGIH)

Alps Advisors Inc. lifted its holdings in LGI Homes Inc (NASDAQ:LGIH) by 41.8% in the third quarter, HoldingsChannel reports. The firm owned 9,679 shares of the financial services provider’s stock after buying an additional 2,851 shares during the quarter. Alps Advisors Inc.’s holdings in LGI Homes were worth $459,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of LGI Homes by 4.5% in the second quarter. Rhumbline Advisers now owns 43,142 shares of the financial services provider’s stock valued at $2,491,000 after purchasing an additional 1,847 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of LGI Homes by 6.6% in the second quarter. Legal & General Group Plc now owns 40,120 shares of the financial services provider’s stock valued at $2,311,000 after purchasing an additional 2,496 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of LGI Homes by 29.8% in the second quarter. Public Employees Retirement System of Ohio now owns 41,075 shares of the financial services provider’s stock valued at $2,371,000 after purchasing an additional 9,431 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of LGI Homes by 444.3% in the second quarter. GSA Capital Partners LLP now owns 21,362 shares of the financial services provider’s stock valued at $1,233,000 after purchasing an additional 17,437 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of LGI Homes by 4.8% in the second quarter. BlackRock Inc. now owns 2,719,627 shares of the financial services provider’s stock valued at $157,003,000 after purchasing an additional 124,283 shares in the last quarter. Hedge funds and other institutional investors own 87.73% of the company’s stock.

Shares of LGI Homes stock opened at $41.26 on Friday. LGI Homes Inc has a 52-week low of $37.16 and a 52-week high of $81.88. The company has a quick ratio of 1.47, a current ratio of 13.89 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $905.05 million, a P/E ratio of 8.72, a PEG ratio of 0.56 and a beta of 0.25.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $1.52 earnings per share (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 company had revenue of $380.37 million during the quarter, compared to the consensus estimate of $378.96 million. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that LGI Homes Inc will post 6.07 EPS for the current fiscal year.

A number of research analysts recently weighed in on the stock. Wells Fargo & Co dropped their price objective on shares of LGI Homes from $63.00 to $44.00 and set an “average” rating for the company in a report on Wednesday. JMP Securities set a $60.00 price objective on shares of LGI Homes and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Finally, Wedbush set a $55.00 price objective on shares of LGI Homes and gave the company a “hold” rating in a report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus 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, South Carolina, North Carolina, Colorado, Washington, Tennessee, and Minnesota markets. 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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Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

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