JPMorgan Chase & Co. Increases Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

JPMorgan Chase & Co. raised its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 131.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,557 shares of the financial services provider's stock after acquiring an additional 63,346 shares during the period. JPMorgan Chase & Co. owned about 0.47% of LGI Homes worth $13,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in LGI Homes during the third quarter valued at approximately $43,000. KBC Group NV grew its position in LGI Homes by 29.8% during the third 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 during the last quarter. CWM LLC grew its position in LGI Homes by 27.5% during the third quarter. CWM LLC now owns 867 shares of the financial services provider's stock valued at $103,000 after acquiring an additional 187 shares during the last quarter. Heritage Family Offices LLP bought a new position in LGI Homes during the third quarter valued at approximately $218,000. Finally, HighTower Advisors LLC bought a new position in shares of LGI Homes in the third quarter worth approximately $229,000. 84.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LGIH has been the topic of several recent analyst reports. JMP Securities restated a "market outperform" rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday. JPMorgan Chase & Co. cut their target price on shares of LGI Homes from $100.00 to $82.00 and set an "underweight" rating on the stock in a report on Friday, December 13th. Finally, Wedbush restated a "neutral" rating and issued a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th.

LGI Homes Trading Down 3.0 %

LGIH stock traded down $2.58 on Friday, reaching $83.29. The company's stock had a trading volume of 150,988 shares, compared to its average volume of 202,781. The business has a fifty day simple moving average of $99.70 and a two-hundred day simple moving average of $103.64. LGI Homes, Inc. has a 12-month low of $82.94 and a 12-month high of $130.75. The firm has a market cap of $1.96 billion, a PE ratio of 9.99 and a beta of 2.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72.

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