LGI Homes, Inc. $LGIH Stock Position Boosted by Fifth Third Bancorp

Fifth Third Bancorp increased its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 44,577.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,316 shares of the financial services provider’s stock after purchasing an additional 39,228 shares during the period. Fifth Third Bancorp’s holdings in LGI Homes were worth $1,554,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CDAM UK Ltd increased its holdings in shares of LGI Homes by 15.4% in the fourth quarter. CDAM UK Ltd now owns 743,153 shares of the financial services provider’s stock valued at $31,926,000 after buying an additional 99,090 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of LGI Homes by 1,158.0% during the 4th quarter. SG Americas Securities LLC now owns 91,471 shares of the financial services provider’s stock worth $3,930,000 after acquiring an additional 84,200 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in shares of LGI Homes by 118.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 155,012 shares of the financial services provider’s stock worth $8,016,000 after acquiring an additional 84,079 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of LGI Homes by 171.3% in the 4th quarter. Trexquant Investment LP now owns 125,065 shares of the financial services provider’s stock worth $5,373,000 after acquiring an additional 78,960 shares during the last quarter. Finally, Shay Capital LLC acquired a new stake in shares of LGI Homes during the second quarter worth $3,235,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Up 0.9%

LGIH stock opened at $58.33 on Friday. The company has a current ratio of 18.56, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. LGI Homes, Inc. has a 1 year low of $33.55 and a 1 year high of $69.50. The company has a fifty day simple moving average of $54.30 and a 200 day simple moving average of $49.71. The firm has a market cap of $1.36 billion, a PE ratio of 19.12 and a beta of 1.82.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.22. LGI Homes had a net margin of 4.22% and a return on equity of 3.80%. The company had revenue of $319.74 million for the quarter, compared to analyst estimates of $328.22 million. During the same quarter last year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was down 9.0% compared to the same quarter last year.

Analyst Ratings Changes

Several research firms have recently weighed in on LGIH. Zacks Research raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, LGI Homes currently has an average rating of “Hold” and an average target price of $72.75.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.