Victory Capital Management Inc. Decreases Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Victory Capital Management Inc. trimmed its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIHGet Rating) by 57.9% during the second quarter, Holdings Channel reports. The fund owned 1,572 shares of the financial services provider’s stock after selling 2,159 shares during the quarter. Victory Capital Management Inc.’s holdings in LGI Homes were worth $137,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LGIH. Meeder Asset Management Inc. acquired a new stake in LGI Homes during the 1st quarter valued at approximately $58,000. CWM LLC grew its position in shares of LGI Homes by 22.9% during the first quarter. CWM LLC now owns 752 shares of the financial services provider’s stock worth $73,000 after buying an additional 140 shares in the last quarter. Covestor Ltd grew its position in shares of LGI Homes by 130.7% during the first quarter. Covestor Ltd now owns 1,029 shares of the financial services provider’s stock worth $101,000 after buying an additional 583 shares in the last quarter. Pinebridge Investments L.P. acquired a new stake in LGI Homes in the first quarter valued at $111,000. Finally, US Bancorp DE boosted its stake in LGI Homes by 20.9% during the 1st quarter. US Bancorp DE now owns 1,181 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

LGIH has been the subject of several research analyst reports. JMP Securities dropped their target price on shares of LGI Homes from $175.00 to $140.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 3rd. Wedbush reduced their target price on LGI Homes from $94.00 to $84.00 and set a “neutral” rating on the stock in a report on Monday, October 10th. Finally, StockNews.com initiated coverage on LGI Homes in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, LGI Homes presently has a consensus rating of “Hold” and a consensus target price of $97.80.

LGI Homes Stock Performance

Shares of LGIH stock opened at $94.36 on Friday. The company has a market cap of $2.20 billion, a P/E ratio of 5.61 and a beta of 1.58. The business has a 50 day moving average of $86.00 and a two-hundred day moving average of $93.45. LGI Homes, Inc. has a 52 week low of $71.73 and a 52 week high of $160.59. The company has a quick ratio of 0.47, a current ratio of 10.89 and a debt-to-equity ratio of 0.77.

LGI Homes Profile

(Get Rating)

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.

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

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