Louisiana State Employees Retirement System Buys New Shares in LGI Homes, Inc. $LGIH

Louisiana State Employees Retirement System purchased a new stake in LGI Homes, Inc. (NASDAQ:LGIH) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 9,000 shares of the financial services provider’s stock, valued at approximately $356,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LGIH. Rockefeller Capital Management L.P. boosted its stake in shares of LGI Homes by 1,759.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock worth $38,000 after buying an additional 827 shares during the last quarter. River Road Asset Management LLC increased its position in shares of LGI Homes by 2.0% in the fourth quarter. River Road Asset Management LLC now owns 931,391 shares of the financial services provider’s stock valued at $40,013,000 after acquiring an additional 18,682 shares during the last quarter. Virtu Financial LLC increased its position in shares of LGI Homes by 18.8% in the fourth quarter. Virtu Financial LLC now owns 7,889 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 1,246 shares during the last quarter. Invesco Ltd. raised its holdings in LGI Homes by 49.6% during the fourth quarter. Invesco Ltd. now owns 123,081 shares of the financial services provider’s stock worth $5,288,000 after acquiring an additional 40,832 shares in the last quarter. Finally, VARCOV Co. acquired a new position in LGI Homes during the fourth quarter valued at approximately $282,000. 84.89% of the stock is owned by institutional investors.

LGI Homes Stock Down 3.1%

Shares of LGIH stock opened at $57.08 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 18.56. The firm’s 50-day moving average is $51.72 and its 200-day moving average is $48.53. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 18.71 and a beta of 1.82. LGI Homes, Inc. has a 52-week low of $33.55 and a 52-week high of $69.50.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LGIH shares. Zacks Research upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. upped their price objective on LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Wall Street Zen raised LGI Homes from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of LGI Homes in a research note on Friday, May 22nd. 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.com, the company presently has an average rating of “Hold” and a consensus price target of $72.75.

About LGI Homes

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.