Proficio Capital Partners LLC Takes Position in LGI Homes, Inc. (NASDAQ:LGIH)

Proficio Capital Partners LLC bought a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,635 shares of the financial services provider's stock, valued at approximately $1,934,000. Proficio Capital Partners LLC owned approximately 0.09% of LGI Homes at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LGIH. JPMorgan Chase & Co. increased its holdings in LGI Homes by 131.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider's stock worth $13,222,000 after purchasing an additional 63,346 shares during the last quarter. Citigroup Inc. grew its holdings in LGI Homes by 60.9% during the 3rd quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider's stock worth $4,954,000 after acquiring an additional 15,818 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of LGI Homes by 5.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider's stock worth $383,000 after purchasing an additional 176 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of LGI Homes in the 3rd quarter valued at about $334,000. Finally, Creative Planning bought a new position in shares of LGI Homes during the third quarter worth about $375,000. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

LGI Homes Stock Performance

Shares of LGIH stock traded down $0.09 during trading hours on Monday, reaching $75.00. The stock had a trading volume of 639,977 shares, compared to its average volume of 247,418. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The firm has a 50-day simple moving average of $84.73 and a 200-day simple moving average of $99.31. The firm has a market capitalization of $1.75 billion, a PE ratio of 8.99 and a beta of 2.13. LGI Homes, Inc. has a twelve month low of $68.66 and a twelve month high of $125.83.

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LGI Homes (NASDAQ:LGIH - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates of $2.31 by ($0.16). LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business had revenue of $557.40 million for the quarter, compared to the consensus estimate of $588.56 million. During the same period last year, the firm posted $2.19 EPS. The business's quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on LGIH shares. Wedbush restated a "neutral" rating and set a $115.00 price objective (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Seaport Res Ptn raised shares of LGI Homes from a "strong sell" rating to a "hold" rating in a report on Monday, January 27th. JPMorgan Chase & Co. lowered their target price on shares of LGI Homes from $82.00 to $80.00 and set an "underweight" rating for the company in a research note on Tuesday, January 14th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $160.00 price objective on shares of LGI Homes in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, LGI Homes presently has an average rating of "Hold" and an average 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.