Montgomery Investment Management Inc. Lowers Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Montgomery Investment Management Inc. reduced its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 48,790 shares of the financial services provider’s stock after selling 4,250 shares during the quarter. LGI Homes comprises approximately 1.7% of Montgomery Investment Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Montgomery Investment Management Inc.’s holdings in LGI Homes were worth $4,362,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LGIH. Disciplined Growth Investors Inc. MN boosted its position in shares of LGI Homes by 3.7% in the third quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider’s stock worth $111,350,000 after buying an additional 33,306 shares during the period. River Road Asset Management LLC boosted its position in shares of LGI Homes by 45.9% in the third quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider’s stock worth $82,425,000 after buying an additional 218,923 shares during the period. Geode Capital Management LLC boosted its position in shares of LGI Homes by 1.5% in the third quarter. Geode Capital Management LLC now owns 497,039 shares of the financial services provider’s stock worth $58,920,000 after buying an additional 7,129 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in LGI Homes by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 349,141 shares of the financial services provider’s stock valued at $41,380,000 after purchasing an additional 24,555 shares during the last quarter. Finally, Holocene Advisors LP boosted its holdings in LGI Homes by 386.2% in the third quarter. Holocene Advisors LP now owns 130,968 shares of the financial services provider’s stock valued at $15,522,000 after purchasing an additional 104,030 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Up 1.3 %

Shares of LGI Homes stock opened at $86.21 on Wednesday. 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 business’s 50 day simple moving average is $94.46 and its 200-day simple moving average is $103.33. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 10.34 and a beta of 2.03. LGI Homes, Inc. has a twelve month low of $82.94 and a twelve month high of $130.75.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, beating 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 firm had revenue of $651.85 million for the quarter, compared to analysts’ expectations of $645.27 million. During the same period last year, the firm earned $2.84 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LGIH has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. JMP Securities reissued a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a report on Friday, January 10th. Wedbush reissued a “neutral” rating and issued a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. Finally, Seaport Res Ptn raised LGI Homes from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, LGI Homes currently has an average rating of “Hold” and a consensus target price of $118.33.

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.