Heritage Family Offices LLP Purchases New Shares in LGI Homes, Inc. (NASDAQ:LGIH)

Heritage Family Offices LLP acquired a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,842 shares of the financial services provider’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new stake in LGI Homes during the 1st quarter worth about $47,000. First Horizon Advisors Inc. lifted its holdings in LGI Homes by 32.5% in the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock valued at $39,000 after buying an additional 108 shares during the period. Innealta Capital LLC acquired a new stake in LGI Homes during the 2nd quarter worth $39,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of LGI Homes during the 1st quarter valued at about $52,000. Finally, CWM LLC grew its position in shares of LGI Homes by 27.5% in the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 187 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LGIH. JPMorgan Chase & Co. cut their price target on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Wedbush restated a “neutral” rating and set a $125.00 price objective on shares of LGI Homes in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $126.00.

LGI Homes Trading Up 1.5 %

NASDAQ LGIH opened at $116.19 on Thursday. LGI Homes, Inc. has a 12 month low of $84.00 and a 12 month high of $136.89. The company has a current ratio of 12.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The stock has a 50 day moving average of $109.66 and a 200-day moving average of $101.80. The company has a market cap of $2.74 billion, a PE ratio of 14.52 and a beta of 1.95.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.24. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The firm had revenue of $602.50 million for the quarter, compared to analyst estimates of $617.44 million. During the same period in the prior year, the firm posted $2.25 earnings per share. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that LGI Homes, Inc. will post 8.82 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.