Verition Fund Management LLC Reduces Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

Verition Fund Management LLC cut its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 82.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,030 shares of the financial services provider's stock after selling 13,911 shares during the quarter. Verition Fund Management LLC's holdings in LGI Homes were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in LGI Homes by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,506,611 shares of the financial services provider's stock valued at $134,827,000 after purchasing an additional 53,031 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of LGI Homes by 1.7% in the second quarter. Disciplined Growth Investors Inc. MN now owns 906,198 shares of the financial services provider's stock valued at $81,096,000 after buying an additional 15,340 shares in the last quarter. River Road Asset Management LLC grew its holdings in LGI Homes by 45.9% during the third quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider's stock worth $82,425,000 after acquiring an additional 218,923 shares during the period. Altshuler Shaham Ltd raised its position in LGI Homes by 5,860.2% in the second 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in LGI Homes by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 349,141 shares of the financial services provider's stock valued at $41,380,000 after acquiring an additional 24,555 shares during the period. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

LGI Homes Price Performance

Shares of LGIH stock traded down $2.54 during mid-day trading on Friday, reaching $99.85. The stock had a trading volume of 306,546 shares, compared to its average volume of 207,884. LGI Homes, Inc. has a 12-month low of $84.00 and a 12-month high of $136.89. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $107.15 and a 200 day simple moving average of $104.21. The company has a market cap 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 earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.54 by $0.41. The company had revenue of $651.85 million during the quarter, compared to analysts' expectations of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The firm's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.84 earnings per share. On average, sell-side analysts anticipate that LGI Homes, Inc. will post 8.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LGIH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of LGI Homes from $100.00 to $82.00 and set an "underweight" rating for the company in a report on Friday. Wedbush reaffirmed a "neutral" rating and issued a $125.00 target price on shares of LGI Homes in a report on Wednesday, November 6th.

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.