JPMorgan Chase & Co. Grows Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

JPMorgan Chase & Co. lifted its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 131.4% during the third quarter, Holdings Channel.com reports. The fund owned 111,557 shares of the financial services provider’s stock after acquiring an additional 63,346 shares during the period. JPMorgan Chase & Co.’s holdings in LGI Homes were worth $13,222,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LGIH. Allspring Global Investments Holdings LLC acquired a new stake in LGI Homes in the 3rd quarter worth approximately $43,000. KBC Group NV raised its holdings in shares of 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. CWM LLC lifted its stake in shares of LGI Homes by 27.5% during 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 period. Heritage Family Offices LLP purchased a new stake in shares of LGI Homes during the third quarter valued at $218,000. Finally, HighTower Advisors LLC acquired a new position in shares of LGI Homes in the 3rd quarter valued at $229,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wedbush reaffirmed 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. decreased their target price on LGI Homes from $100.00 to $82.00 and set an “underweight” rating for the company in a report on Friday, December 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a report on Friday.

LGI Homes Trading Down 3.0 %

NASDAQ LGIH opened at $83.29 on Friday. LGI Homes, Inc. has a 1 year low of $82.94 and a 1 year high of $130.75. 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 company has a market capitalization of $1.96 billion, a PE ratio of 9.99 and a beta of 2.02. The company has a fifty day moving average of $99.70 and a 200 day moving average of $103.64.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.41. The business had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.84 EPS. Research analysts forecast that LGI Homes, Inc. will post 8.72 earnings per share 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.