Mutual of America Capital Management LLC Grows Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Mutual of America Capital Management LLC increased its stake in shares of LGI Homes, Inc. (NASDAQ:LGIHGet Rating) by 5.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,077 shares of the financial services provider’s stock after buying an additional 159 shares during the quarter. Mutual of America Capital Management LLC’s holdings in LGI Homes were worth $301,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of LGI Homes by 0.9% during the fourth quarter. Bank of America Corp DE now owns 85,813 shares of the financial services provider’s stock valued at $13,257,000 after buying an additional 777 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of LGI Homes by 137.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 23,571 shares of the financial services provider’s stock valued at $3,641,000 after buying an additional 13,649 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of LGI Homes during the fourth quarter valued at $1,258,000. Phoenician Capital LLC purchased a new stake in shares of LGI Homes during the fourth quarter valued at $20,082,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of LGI Homes by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 189,838 shares of the financial services provider’s stock valued at $29,326,000 after buying an additional 4,881 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ryan Edone acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was acquired at an average price of $82.38 per share, for a total transaction of $82,380.00. Following the completion of the transaction, the director now owns 26,778 shares in the company, valued at approximately $2,205,971.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 12.50% of the company’s stock.

LGI Homes Trading Up 1.3 %

Shares of LGI Homes stock opened at $114.32 on Tuesday. The firm has a 50-day simple moving average of $94.48 and a two-hundred day simple moving average of $104.82. The company has a market cap of $2.71 billion, a P/E ratio of 6.91 and a beta of 1.57. LGI Homes, Inc. has a fifty-two week low of $71.73 and a fifty-two week high of $175.90. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.86 and a current ratio of 14.77.

LGI Homes (NASDAQ:LGIHGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The financial services provider reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.60. The business had revenue of $546.05 million during the quarter, compared to the consensus estimate of $530.07 million. LGI Homes had a net margin of 14.14% and a return on equity of 30.05%. The company’s revenue was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.95 earnings per share. As a group, equities analysts predict that LGI Homes, Inc. will post 19.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LGIH shares. BTIG Research raised shares of LGI Homes from a “sell” rating to a “neutral” rating in a report on Wednesday, April 20th. Wells Fargo & Company decreased their target price on shares of LGI Homes from $108.00 to $90.00 and set an “equal weight” rating for the company in a research report on Friday, June 17th. TheStreet downgraded shares of LGI Homes from a “b-” rating to a “c+” rating in a research report on Thursday, April 7th. JPMorgan Chase & Co. decreased their target price on shares of LGI Homes from $85.00 to $77.00 and set an “underweight” rating for the company in a research report on Tuesday, July 12th. Finally, StockNews.com downgraded shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, LGI Homes currently has an average rating of “Hold” and a consensus price target of $88.33.

LGI Homes Profile

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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 companies looking to acquire single-family rental properties.

See Also

Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

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