LGI Homes, Inc. (NASDAQ:LGIH) Shares Acquired by RiverPark Advisors LLC

RiverPark Advisors LLC lifted its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 361.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,407 shares of the financial services provider’s stock after purchasing an additional 2,668 shares during the quarter. RiverPark Advisors LLC’s holdings in LGI Homes were worth $396,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LGIH. Wasatch Advisors LP boosted its holdings in shares of LGI Homes by 9.9% during the first quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock worth $169,929,000 after purchasing an additional 131,467 shares during the last quarter. CDAM UK Ltd boosted its holdings in LGI Homes by 14.7% in the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock valued at $89,878,000 after acquiring an additional 86,265 shares during the last quarter. Ampfield Management L.P. boosted its holdings in LGI Homes by 13.0% in the fourth quarter. Ampfield Management L.P. now owns 571,857 shares of the financial services provider’s stock valued at $76,148,000 after acquiring an additional 65,609 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in LGI Homes by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,443,038 shares of the financial services provider’s stock valued at $192,158,000 after acquiring an additional 58,850 shares during the last quarter. Finally, Norges Bank acquired a new position in LGI Homes in the fourth quarter valued at $7,776,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LGIH. Wedbush reiterated an “underperform” rating and issued a $74.00 target price on shares of LGI Homes in a report on Thursday, June 6th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday, April 5th. Finally, StockNews.com cut LGI Homes from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $110.50.

LGI Homes Stock Down 1.3 %

Shares of LGIH traded down $1.14 during midday trading on Tuesday, reaching $85.84. 264,976 shares of the company were exchanged, compared to its average volume of 212,934. The stock has a 50-day moving average price of $94.46 and a 200-day moving average price of $107.41. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 10.73 and a beta of 1.92. LGI Homes, Inc. has a 1-year low of $84.00 and a 1-year high of $141.91. 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 issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.30). The company had revenue of $390.90 million for the quarter, compared to analyst estimates of $400.00 million. LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. The company’s revenue for the quarter was down 19.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 EPS. Research analysts expect that LGI Homes, Inc. will post 8.95 earnings per share for the current year.

About LGI Homes

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.