Wall Street Associates cut its position in shares of LGI Homes Inc. (NASDAQ:LGIH) by 46.7% during the fourth quarter, Holdings Channel reports. The fund owned 40,265 shares of the company’s stock after selling 35,327 shares during the period. Wall Street Associates owned approximately 0.19% of LGI Homes worth $1,157,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its position in LGI Homes by 267.0% in the third quarter. BlackRock Fund Advisors now owns 1,473,784 shares of the company’s stock worth $54,294,000 after buying an additional 1,072,208 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in LGI Homes by 47.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,968,944 shares of the company’s stock worth $62,888,000 after buying an additional 636,102 shares during the period. Manning & Napier Advisors LLC bought a new position in LGI Homes during the third quarter worth $5,350,000. Wells Fargo & Company MN increased its position in LGI Homes by 257.5% in the third quarter. Wells Fargo & Company MN now owns 185,853 shares of the company’s stock worth $6,847,000 after buying an additional 133,868 shares during the period. Finally, Principal Financial Group Inc. bought a new position in LGI Homes during the third quarter worth $4,483,000. Institutional investors own 79.44% of the company’s stock.
LGI Homes Inc. (NASDAQ:LGIH) traded down 4.83% during trading on Thursday, reaching $29.39. 350,995 shares of the company’s stock traded hands. The firm has a market cap of $625.48 million, a PE ratio of 9.47 and a beta of 0.17. LGI Homes Inc. has a 12 month low of $19.00 and a 12 month high of $40.47. The firm has a 50 day moving average price of $30.26 and a 200-day moving average price of $33.12.
LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. The company had revenue of $216.30 million for the quarter, compared to analysts’ expectations of $213.78 million. LGI Homes had a net margin of 8.68% and a return on equity of 23.66%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. On average, analysts forecast that LGI Homes Inc. will post $3.38 earnings per share for the current fiscal year.
LGIH has been the topic of a number of research reports. Wells Fargo & Co. downgraded shares of LGI Homes from an “outperform” rating to a “market perform” rating in a research note on Friday, January 6th. Zacks Investment Research downgraded shares of LGI Homes from a “buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $35.00 price target on shares of LGI Homes in a research note on Friday, January 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $36.67.
About LGI Homes
LGI Homes, Inc is a homebuilder. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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