Basswood Capital Management L.L.C. Invests $3.10 Million in LGI Homes, Inc. (NASDAQ:LGIH)

Basswood Capital Management L.L.C. acquired a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 26,185 shares of the financial services provider's stock, valued at approximately $3,103,000. Basswood Capital Management L.L.C. owned approximately 0.11% of LGI Homes at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of LGI Homes during the 2nd quarter worth approximately $39,000. First Horizon Advisors Inc. boosted its holdings in shares of LGI Homes by 32.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider's stock worth $39,000 after purchasing an additional 108 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of LGI Homes during the 3rd quarter worth approximately $43,000. KBC Group NV boosted its holdings in shares of LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider's stock worth $87,000 after purchasing an additional 168 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of LGI Homes by 27.5% during the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider's stock worth $103,000 after purchasing an additional 187 shares during the last quarter. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

LGI Homes Trading Up 0.6 %

LGIH traded up $0.66 during trading hours on Monday, reaching $110.15. The company's stock had a trading volume of 58,999 shares, compared to its average volume of 208,347. LGI Homes, Inc. has a fifty-two week low of $84.00 and a fifty-two week high of $136.89. The stock has a market cap of $2.59 billion, a PE ratio of 13.13 and a beta of 1.97. The business's 50-day moving average is $109.10 and its 200-day moving average is $103.74. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54.

LGI Homes (NASDAQ:LGIH - Get Free Report) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.54 by $0.41. The company had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The firm's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.84 earnings per share. As a group, equities research analysts predict that LGI Homes, Inc. will post 8.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wedbush restated a "neutral" rating and set a $125.00 target price on shares of LGI Homes in a report on Wednesday, November 6th.

LGI Homes Company Profile

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.