Legacy Capital Wealth Partners LLC Purchases New Shares in LGI Homes, Inc. (NASDAQ:LGIH)

Legacy Capital Wealth Partners LLC bought a new stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,974 shares of the financial services provider’s stock, valued at approximately $352,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in shares of LGI Homes by 23.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,334 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 444 shares during the period. Texas Permanent School Fund Corp raised its holdings in shares of LGI Homes by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 17,942 shares of the financial services provider’s stock worth $2,088,000 after acquiring an additional 233 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of LGI Homes by 1.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 12,108 shares of the financial services provider’s stock worth $1,409,000 after acquiring an additional 217 shares in the last quarter. Sei Investments Co. increased its position in shares of LGI Homes by 3.3% in the first quarter. Sei Investments Co. now owns 3,970 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 126 shares during the last quarter. Finally, Inspire Investing LLC grew its position in shares of LGI Homes by 5.5% in the 1st quarter. Inspire Investing LLC now owns 3,037 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 159 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Stock Down 0.5 %

LGIH opened at $109.12 on Monday. LGI Homes, Inc. has a 52 week low of $84.00 and a 52 week high of $136.89. The stock has a market cap of $2.57 billion, a PE ratio of 13.08 and a beta of 1.97. The business’s fifty day simple moving average is $110.55 and its 200 day simple moving average is $102.81. The company has a quick ratio of 0.49, a current ratio of 12.72 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company had revenue of $651.85 million for the quarter, compared to analysts’ expectations of $645.27 million. During the same period in the prior year, the firm earned $2.84 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts expect that LGI Homes, Inc. will post 8.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wedbush restated a “neutral” rating and set a $125.00 price objective on shares of LGI Homes in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $126.00.

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.