New York State Common Retirement Fund Lowers Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

New York State Common Retirement Fund lessened its stake in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 37.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,876 shares of the financial services provider's stock after selling 4,200 shares during the quarter. New York State Common Retirement Fund's holdings in LGI Homes were worth $615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LGIH. Blue Trust Inc. increased its stake in LGI Homes by 112.9% during the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider's stock worth $31,000 after acquiring an additional 184 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in LGI Homes during the third quarter worth $43,000. KBC Group NV increased its stake in LGI Homes by 29.8% during the third quarter. KBC Group NV now owns 732 shares of the financial services provider's stock worth $87,000 after acquiring an additional 168 shares during the last quarter. HighTower Advisors LLC acquired a new stake in LGI Homes during the third quarter worth $229,000. Finally, First Trust Direct Indexing L.P. acquired a new stake in LGI Homes during the third quarter worth $235,000. Institutional investors and hedge funds own 84.89% of the company's stock.

Analyst Ratings Changes

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

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LGI Homes Stock Performance

Shares of LGIH traded down $0.47 during midday trading on Friday, reaching $75.09. 422,995 shares of the stock were exchanged, compared to its average volume of 238,498. The business's 50-day moving average price is $85.02 and its 200 day moving average price is $99.59. 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 $68.66 and a twelve month high of $125.83. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 9.00 and a beta of 2.03.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its earnings results on Tuesday, February 25th. The financial services provider reported $2.15 EPS for the quarter, missing analysts' consensus estimates of $2.31 by ($0.16). The firm had revenue of $557.40 million for the quarter, compared to analyst estimates of $588.56 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The firm's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.19 EPS. On average, sell-side analysts expect that LGI Homes, Inc. will post 8.46 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.