GSA Capital Partners LLP Reduces Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

GSA Capital Partners LLP decreased its holdings in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 70.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,165 shares of the financial services provider's stock after selling 9,841 shares during the period. GSA Capital Partners LLP's holdings in LGI Homes were worth $494,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in LGI Homes by 23.5% during the first quarter. Janney Montgomery Scott LLC now owns 2,334 shares of the financial services provider's stock valued at $272,000 after purchasing an additional 444 shares during the period. Sei Investments Co. raised its holdings in shares of LGI Homes by 3.3% in the first quarter. Sei Investments Co. now owns 3,970 shares of the financial services provider's stock worth $462,000 after buying an additional 126 shares during the period. ProShare Advisors LLC raised its holdings in shares of LGI Homes by 7.4% in the first quarter. ProShare Advisors LLC now owns 4,190 shares of the financial services provider's stock worth $488,000 after buying an additional 289 shares during the period. Vanguard Group Inc. raised its holdings in shares of LGI Homes by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,220,411 shares of the financial services provider's stock worth $258,389,000 after buying an additional 19,800 shares during the period. Finally, UniSuper Management Pty Ltd purchased a new stake in shares of LGI Homes in the first quarter worth approximately $583,000. 84.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated a "neutral" rating and issued a $125.00 price target on shares of LGI Homes in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $126.00.

LGI Homes Price Performance

LGIH stock traded up $0.63 during trading on Wednesday, hitting $101.79. The stock had a trading volume of 157,265 shares, compared to its average volume of 210,183. 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, Inc. has a twelve month low of $84.00 and a twelve month high of $136.89. The stock has a market capitalization of $2.39 billion, a P/E ratio of 12.21 and a beta of 1.97. The company's 50-day moving average price is $110.36 and its two-hundred day moving average price is $103.32.

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, 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 company had revenue of $651.85 million for the quarter, compared to analysts' expectations of $645.27 million. During the same period in the previous year, the firm posted $2.84 EPS. LGI Homes's revenue was up 5.6% compared to the same quarter last year. As a group, research analysts predict that LGI Homes, Inc. will post 8.72 EPS for the current fiscal year.

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.