22,400 Shares in LGI Homes, Inc. (NASDAQ:LGIH) Bought by Covalent Partners LLC

Covalent Partners LLC acquired a new stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 22,400 shares of the financial services provider's stock, valued at approximately $2,655,000. LGI Homes accounts for about 18.9% of Covalent Partners LLC's investment portfolio, making the stock its 2nd biggest holding. Covalent Partners LLC owned about 0.10% of LGI Homes as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Denali Advisors LLC acquired a new position in LGI Homes during the 2nd quarter worth approximately $993,000. Citigroup Inc. boosted its holdings in shares of LGI Homes by 60.9% in the 3rd quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider's stock valued at $4,954,000 after buying an additional 15,818 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings 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 valued at $383,000 after buying an additional 176 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of LGI Homes by 21.3% in the 2nd quarter. American Century Companies Inc. now owns 29,358 shares of the financial services provider's stock valued at $2,627,000 after buying an additional 5,159 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in shares of LGI Homes by 1.7% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 906,198 shares of the financial services provider's stock valued at $81,096,000 after buying an additional 15,340 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Performance

LGIH traded down $3.97 during trading hours on Tuesday, reaching $105.50. The company's stock had a trading volume of 232,211 shares, compared to its average volume of 207,088. LGI Homes, Inc. has a 52 week low of $84.00 and a 52 week high of $136.89. The company's 50-day moving average is $107.87 and its 200-day moving average is $104.12. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The firm has a market cap of $2.48 billion, a PE ratio of 12.65 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.41. The firm had revenue of $651.85 million for the quarter, compared to analysts' expectations of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.84 EPS. On average, equities analysts forecast that LGI Homes, Inc. will post 8.72 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush reissued a "neutral" rating and issued a $125.00 price objective on shares of LGI Homes in a report on Wednesday, November 6th.

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.