State of New Jersey Common Pension Fund D Sells 2,032 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

State of New Jersey Common Pension Fund D decreased its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,828 shares of the financial services provider’s stock after selling 2,032 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in LGI Homes were worth $2,113,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LGIH. Allspring Global Investments Holdings LLC purchased a new stake in shares of LGI Homes in the third quarter worth approximately $43,000. First Horizon Advisors Inc. raised its position 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 valued at $39,000 after buying an additional 108 shares during the last quarter. Innealta Capital LLC bought a new position in LGI Homes during the 2nd quarter valued at $39,000. CWM LLC boosted its holdings in LGI Homes by 27.5% during the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 187 shares during the last quarter. Finally, Heritage Family Offices LLP bought a new stake in shares of LGI Homes in the 3rd quarter worth $218,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

Analyst Ratings Changes

Separately, Wedbush restated a “neutral” rating and set a $125.00 price target on shares of LGI Homes in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $126.00.

LGI Homes Stock Performance

NASDAQ LGIH opened at $104.94 on Friday. The company has a market capitalization of $2.47 billion, a PE ratio of 12.58 and a beta of 1.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. LGI Homes, Inc. has a 52-week low of $84.00 and a 52-week high of $136.89. The company has a 50-day simple moving average of $110.59 and a 200 day simple moving average of $102.99.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company had revenue of $651.85 million for the quarter, compared to analysts’ expectations of $645.27 million. During the same quarter in the previous year, the firm posted $2.84 EPS. LGI Homes’s revenue was up 5.6% on a year-over-year basis. On average, research analysts predict that LGI Homes, Inc. will post 8.88 EPS for the current year.

LGI Homes 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.