Montgomery Investment Management Inc. Cuts Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Montgomery Investment Management Inc. cut its stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,790 shares of the financial services provider's stock after selling 4,250 shares during the period. LGI Homes comprises about 1.7% of Montgomery Investment Management Inc.'s investment portfolio, making the stock its 21st largest position. Montgomery Investment Management Inc. owned 0.21% of LGI Homes worth $4,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in LGI Homes by 112.9% in the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider's stock worth $31,000 after acquiring an additional 184 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in LGI Homes during the 3rd quarter valued at $43,000. KBC Group NV lifted its holdings in shares of LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider's stock worth $87,000 after buying an additional 168 shares during the period. CWM LLC grew its position in shares of LGI Homes by 27.5% during the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider's stock worth $103,000 after buying an additional 187 shares in the last quarter. Finally, Heritage Family Offices LLP purchased a new stake in LGI Homes in the third quarter worth about $218,000. Hedge funds and other institutional investors own 84.89% of the company's stock.

LGI Homes Stock Performance

NASDAQ:LGIH traded down $2.99 during mid-day trading on Friday, hitting $82.60. The company's stock had a trading volume of 235,893 shares, compared to its average volume of 185,065. The business's fifty day moving average is $93.52 and its two-hundred day moving average is $103.10. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 9.90 and a beta of 2.03. LGI Homes, Inc. has a 1 year low of $82.26 and a 1 year high of $130.75. 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 (NASDAQ:LGIH - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.54 by $0.41. The company had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. LGI Homes's revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.84 earnings per share. Analysts anticipate that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LGIH shares. Seaport Res Ptn raised shares of LGI Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. decreased their price objective on shares of LGI Homes from $82.00 to $80.00 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. JMP Securities restated a "market outperform" rating and issued a $160.00 target price on shares of LGI Homes in a research note on Friday, January 10th. Finally, Wedbush reaffirmed a "neutral" rating and set a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, LGI Homes presently has a consensus rating of "Hold" and an average price target of $118.33.

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.