Cornercap Investment Counsel Inc. Has $627,000 Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Cornercap Investment Counsel Inc. lessened its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 52.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,292 shares of the financial services provider's stock after selling 5,790 shares during the period. Cornercap Investment Counsel Inc.'s holdings in LGI Homes were worth $627,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LGIH. First Horizon Advisors Inc. grew its position in LGI Homes by 32.5% in 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. Innealta Capital LLC acquired a new stake in LGI Homes during the second quarter worth about $39,000. Allspring Global Investments Holdings LLC bought a new position in LGI Homes during the third quarter valued at about $43,000. KBC Group NV raised its holdings in LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider's stock valued at $87,000 after acquiring an additional 168 shares in the last quarter. Finally, CWM LLC raised its holdings in LGI Homes by 27.5% in the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider's stock valued at $103,000 after acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wedbush restated a "neutral" rating and set a $125.00 price objective on shares of LGI Homes in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $126.00.

LGI Homes Price Performance

NASDAQ:LGIH traded down $0.74 during mid-day trading on Friday, hitting $104.20. The company's stock had a trading volume of 94,204 shares, compared to its average volume of 209,813. 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 stock has a fifty day moving average of $110.58 and a 200-day moving average of $103.14. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 12.49 and a beta of 1.97. LGI Homes, Inc. has a fifty-two week low of $84.00 and a fifty-two week high of $136.89.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping 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 business had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. During the same quarter last year, the company earned $2.84 EPS. LGI Homes's revenue was up 5.6% on a year-over-year basis. As a group, equities analysts forecast that LGI Homes, Inc. will post 8.72 EPS for the current fiscal year.

LGI Homes 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.