Verition Fund Management LLC Sells 13,911 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Verition Fund Management LLC cut its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 82.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,030 shares of the financial services provider’s stock after selling 13,911 shares during the period. Verition Fund Management LLC’s holdings in LGI Homes were worth $359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in LGI Homes in the second quarter valued at about $39,000. First Horizon Advisors Inc. lifted its stake in LGI Homes by 32.5% in the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 108 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in LGI Homes during the third quarter valued at $43,000. KBC Group NV increased its position in LGI Homes by 29.8% in the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after buying an additional 168 shares during the last quarter. Finally, CWM LLC increased its position in LGI Homes by 27.5% in the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after buying an additional 187 shares during the last quarter. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Trading Down 2.5 %

NASDAQ:LGIH opened at $99.85 on Friday. The company has a market cap of $2.35 billion, a P/E ratio of 11.97 and a beta of 1.99. LGI Homes, Inc. has a 1 year low of $84.00 and a 1 year high of $136.89. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The stock’s fifty day moving average price is $107.15 and its two-hundred day moving average price is $104.15.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. During the same quarter last year, the company earned $2.84 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, analysts expect that LGI Homes, Inc. will post 8.72 EPS for the current year.

Analyst Ratings Changes

LGIH has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price target on LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a research report on Friday. Wedbush reaffirmed a “neutral” rating and set a $125.00 price objective on shares of LGI Homes in a report on Wednesday, November 6th.

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.