Readystate Asset Management LP Invests $407,000 in LGI Homes, Inc. (NASDAQ:LGIH)

Readystate Asset Management LP purchased a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,435 shares of the financial services provider’s stock, valued at approximately $407,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in LGI Homes in the third quarter valued at approximately $43,000. Innealta Capital LLC purchased a new stake in LGI Homes in the second quarter valued at approximately $39,000. First Horizon Advisors Inc. grew 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 purchasing an additional 108 shares during the period. KBC Group NV grew its holdings in LGI Homes by 29.8% in the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 168 shares during the period. Finally, CWM LLC grew its holdings in LGI Homes by 27.5% in the third 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. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

LGI Homes Trading Down 3.0 %

NASDAQ LGIH opened at $105.71 on Friday. The company’s fifty day simple moving average is $108.55 and its 200-day simple moving average is $103.86. LGI Homes, Inc. has a 52 week low of $84.00 and a 52 week high of $136.89. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2.49 billion, a P/E ratio of 12.68 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business had revenue of $651.85 million for the quarter, compared to analysts’ expectations of $645.27 million. During the same period in the previous year, the company posted $2.84 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts predict that LGI Homes, Inc. will post 8.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed a “neutral” rating and set a $125.00 price target on shares of LGI Homes in a research report on Wednesday, November 6th.

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.