LGI Homes, Inc. (NASDAQ:LGIH) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,655 shares of the financial services provider’s stock after purchasing an additional 629 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in LGI Homes were worth $1,042,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in LGI Homes by 131.4% during the third quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock worth $13,222,000 after purchasing an additional 63,346 shares during the last quarter. Citigroup Inc. raised its holdings in LGI Homes by 60.9% during the third quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider’s stock worth $4,954,000 after purchasing an additional 15,818 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in LGI Homes by 5.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 176 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in LGI Homes during the third quarter worth $334,000. Finally, Creative Planning purchased a new position in LGI Homes during the third quarter worth $375,000. 84.89% of the stock is owned by institutional investors and hedge funds.

LGI Homes Price Performance

Shares of NASDAQ:LGIH opened at $73.43 on Monday. The company has a market cap of $1.73 billion, a P/E ratio of 8.80 and a beta of 2.03. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. LGI Homes, Inc. has a 52 week low of $71.70 and a 52 week high of $125.83. The business has a fifty day simple moving average of $86.48 and a 200-day simple moving average of $100.41.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.16). LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The firm had revenue of $557.40 million for the quarter, compared to analysts’ expectations of $588.56 million. During the same period last year, the firm posted $2.19 EPS. LGI Homes’s revenue was down 8.4% on a year-over-year basis. Equities research analysts forecast that LGI Homes, Inc. will post 8.46 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wedbush reissued a “neutral” rating and set a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price target on LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Seaport Res Ptn raised LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $118.33.

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.