Raymond James & Associates Grows Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Raymond James & Associates boosted its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 18.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,880 shares of the financial services provider's stock after purchasing an additional 17,535 shares during the period. Raymond James & Associates owned 0.49% of LGI Homes worth $13,616,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LGIH. Altshuler Shaham Ltd increased its stake in LGI Homes by 5,860.2% during the 2nd quarter. Altshuler Shaham Ltd now owns 454,760 shares of the financial services provider's stock worth $40,696,000 after acquiring an additional 447,130 shares during the period. Khrom Capital Management LLC acquired a new stake in shares of LGI Homes during the 2nd quarter valued at $21,477,000. Wasatch Advisors LP raised its position in LGI Homes by 9.9% during the 1st quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider's stock worth $169,929,000 after purchasing an additional 131,467 shares during the last quarter. Bright Financial Advisors Inc. bought a new position in LGI Homes during the 1st quarter worth $12,260,000. Finally, Marshall Wace LLP raised its position in LGI Homes by 51.8% during the 2nd quarter. Marshall Wace LLP now owns 269,798 shares of the financial services provider's stock worth $24,144,000 after purchasing an additional 92,081 shares during the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

LGI Homes Trading Up 1.8 %

Shares of NASDAQ:LGIH traded up $1.81 on Monday, reaching $104.61. 163,391 shares of the company traded hands, compared to its average volume of 210,243. The company has a current ratio of 12.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $2.47 billion, a P/E ratio of 12.85 and a beta of 1.95. LGI Homes, Inc. has a 52 week low of $84.00 and a 52 week high of $136.89. The business's 50-day simple moving average is $110.99 and its 200 day simple moving average is $102.10.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.24. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. The company had revenue of $602.50 million for the quarter, compared to analysts' expectations of $617.44 million. During the same period last year, the firm earned $2.25 earnings per share. LGI Homes's quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities analysts anticipate that LGI Homes, Inc. will post 8.82 EPS for the current fiscal year.

Analysts Set New Price Targets

LGIH has been the subject of a number of research analyst reports. Wedbush reaffirmed a "neutral" rating and issued a $125.00 target price on shares of LGI Homes in a research report on Friday, October 4th. JPMorgan Chase & Co. cut their target price on LGI Homes from $95.00 to $93.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $126.00.

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.