Pitcairn Co. Buys 170 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Pitcairn Co. raised its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 6.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,776 shares of the financial services provider’s stock after purchasing an additional 170 shares during the period. Pitcairn Co.’s holdings in LGI Homes were worth $323,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wasatch Advisors LP grew its stake in shares of LGI Homes by 4.3% during the 4th quarter. Wasatch Advisors LP now owns 1,328,778 shares of the financial services provider’s stock valued at $176,940,000 after acquiring an additional 54,606 shares during the period. CDAM UK Ltd raised its position in shares of LGI Homes by 14.7% during the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock valued at $89,878,000 after buying an additional 86,265 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of LGI Homes by 27.0% in the first quarter. First Eagle Investment Management LLC now owns 86,415 shares of the financial services provider’s stock worth $10,056,000 after buying an additional 18,350 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in shares of LGI Homes by 102.7% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 35,149 shares of the financial services provider’s stock worth $4,680,000 after acquiring an additional 17,811 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in LGI Homes during the first quarter valued at $1,298,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Trading Up 2.5 %

Shares of LGIH stock traded up $2.55 during trading hours on Thursday, reaching $104.34. 237,126 shares of the stock were exchanged, compared to its average volume of 217,251. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 13.05 and a beta of 1.92. LGI Homes, Inc. has a 12-month low of $84.00 and a 12-month high of $140.27. The company’s 50-day moving average price is $95.22 and its 200-day moving average price is $105.31. The company has a current ratio of 12.36, a quick ratio of 0.43 and a debt-to-equity ratio of 0.74.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.30). The business had revenue of $390.90 million during the quarter, compared to analysts’ expectations of $400.00 million. LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. The business’s revenue for the quarter was down 19.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. As a group, equities analysts anticipate that LGI Homes, Inc. will post 8.82 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on LGIH. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a research note on Friday, April 5th. Wedbush reissued an “underperform” rating and set a $74.00 price target on shares of LGI Homes in a research note on Thursday, June 6th. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, LGI Homes has an average rating of “Hold” and an average target price of $107.50.

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.