11,100 Shares in LGI Homes, Inc. (NASDAQ:LGIH) Acquired by Denali Advisors LLC

Denali Advisors LLC purchased a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 11,100 shares of the financial services provider’s stock, valued at approximately $993,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in LGI Homes by 32.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after buying an additional 108 shares during the period. Innealta Capital LLC purchased a new stake in LGI Homes in the 2nd quarter worth approximately $39,000. Mather Group LLC. purchased a new stake in LGI Homes in the 1st quarter worth approximately $47,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of LGI Homes in the 1st quarter valued at approximately $52,000. Finally, Headlands Technologies LLC purchased a new position in LGI Homes during the first quarter valued at $130,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

LGI Homes Stock Up 1.7 %

LGI Homes stock opened at $116.47 on Tuesday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 14.56 and a beta of 1.95. The stock has a fifty day simple moving average of $104.71 and a two-hundred day simple moving average of $101.32. 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 12.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.24. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. The business had revenue of $602.50 million during the quarter, compared to analyst estimates of $617.44 million. During the same quarter last year, the company earned $2.25 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities analysts predict that LGI Homes, Inc. will post 9.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on LGIH. JPMorgan Chase & Co. lowered their price objective on LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Wedbush upgraded LGI Homes from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $97.00 to $125.00 in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $126.00.

About LGI Homes

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.