State Street Corp Has $128.78 Million Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

State Street Corp cut its holdings in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 6.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,086,598 shares of the financial services provider's stock after selling 75,760 shares during the period. State Street Corp owned approximately 4.62% of LGI Homes worth $128,784,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Altshuler Shaham Ltd increased its holdings in shares of LGI Homes by 5,860.2% during the second quarter. Altshuler Shaham Ltd now owns 454,760 shares of the financial services provider's stock worth $40,696,000 after purchasing an additional 447,130 shares during the period. Khrom Capital Management LLC bought a new position in LGI Homes during the 2nd quarter worth $21,477,000. River Road Asset Management LLC raised its holdings in LGI Homes by 45.9% in the 3rd quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider's stock valued at $82,425,000 after acquiring an additional 218,923 shares in the last quarter. Holocene Advisors LP lifted its position in shares of LGI Homes by 386.2% during the 3rd quarter. Holocene Advisors LP now owns 130,968 shares of the financial services provider's stock valued at $15,522,000 after acquiring an additional 104,030 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of 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 in the last quarter. 84.89% of the stock is owned by institutional investors.

LGI Homes Price Performance

NASDAQ:LGIH traded down $2.54 during trading hours on Friday, hitting $99.85. The company's stock had a trading volume of 306,546 shares, compared to its average volume of 207,884. LGI Homes, Inc. has a twelve month low of $84.00 and a twelve month high of $136.89. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The stock has a fifty day simple moving average of $107.15 and a 200-day simple moving average of $104.29. The company has a market capitalization of $2.35 billion, a P/E ratio of 11.97 and a beta of 1.99.

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 the consensus estimate of $2.54 by $0.41. The company had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The firm's revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.84 EPS. On average, analysts anticipate that LGI Homes, Inc. will post 8.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LGIH. JPMorgan Chase & Co. dropped their price target on LGI Homes from $100.00 to $82.00 and set an "underweight" rating for the company in a research note on Friday. Wedbush reaffirmed a "neutral" rating and set a $125.00 price target on shares of LGI Homes in a report on Wednesday, November 6th.

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.