Geode Capital Management LLC Acquires 7,129 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Geode Capital Management LLC lifted its position in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 497,039 shares of the financial services provider's stock after buying an additional 7,129 shares during the quarter. Geode Capital Management LLC owned approximately 2.11% of LGI Homes worth $58,920,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in LGI Homes in the 2nd quarter worth approximately $39,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of LGI Homes during the third quarter worth $43,000. KBC Group NV grew its position in shares of LGI Homes by 29.8% in the third quarter. KBC Group NV now owns 732 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 168 shares during the period. CWM LLC increased its stake in LGI Homes by 27.5% in the third quarter. CWM LLC now owns 867 shares of the financial services provider's stock valued at $103,000 after purchasing an additional 187 shares during the last quarter. Finally, Heritage Family Offices LLP purchased a new position in LGI Homes during the third quarter worth about $218,000. Institutional investors and hedge funds own 84.89% of the company's stock.

LGI Homes Stock Performance

LGIH stock traded up $0.93 on Friday, reaching $91.20. The company's stock had a trading volume of 689,340 shares, compared to its average volume of 210,790. The firm has a fifty day moving average of $105.53 and a two-hundred day moving average of $104.21. 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 company has a market capitalization of $2.14 billion, a P/E ratio of 10.94 and a beta of 1.99. LGI Homes, Inc. has a 52 week low of $84.00 and a 52 week high of $136.89.

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 (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.41. The business had revenue of $651.85 million during the quarter, compared to analysts' expectations of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business's revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $2.84 earnings per share. As a group, analysts predict that LGI Homes, Inc. will post 8.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of LGI Homes from $100.00 to $82.00 and set an "underweight" rating for the company in a report on Friday, December 13th. Wedbush reiterated a "neutral" rating and issued a $125.00 target price on shares of LGI Homes in a research note 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.