LGI Homes, Inc. $LGIH Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lessened its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 70.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,792 shares of the financial services provider’s stock after selling 447,995 shares during the period. Wasatch Advisors LP’s holdings in LGI Homes were worth $7,265,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its position in shares of LGI Homes by 75.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 237 shares in the last quarter. Russell Investments Group Ltd. lifted its position in LGI Homes by 106.6% during the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after buying an additional 305 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in LGI Homes during the fourth quarter worth approximately $29,000. Kemnay Advisory Services Inc. acquired a new position in LGI Homes during the fourth quarter worth $32,000. Finally, Rockefeller Capital Management L.P. grew its holdings in LGI Homes by 1,759.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after buying an additional 827 shares in the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Stock Performance

NASDAQ LGIH opened at $65.75 on Friday. The stock has a fifty day simple moving average of $49.10 and a 200-day simple moving average of $47.79. The company has a current ratio of 18.56, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.53 billion, a PE ratio of 21.56 and a beta of 1.87. LGI Homes, Inc. has a twelve month low of $33.55 and a twelve month high of $69.50.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.22. LGI Homes had a net margin of 4.22% and a return on equity of 3.80%. The firm had revenue of $319.74 million for the quarter, compared to analyst estimates of $328.22 million. During the same period in the previous year, the firm earned $0.17 EPS. LGI Homes’s revenue was down 9.0% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a report on Friday, May 22nd. Wall Street Zen raised shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Research upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, LGI Homes presently has an average rating of “Hold” and an average price target of $72.75.

LGI Homes Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.