50,209 Shares in LGI Homes, Inc. (NASDAQ:LGIH) Bought by Breach Inlet Capital Management LLC

Breach Inlet Capital Management LLC acquired a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 50,209 shares of the financial services provider’s stock, valued at approximately $6,686,000. LGI Homes comprises 6.0% of Breach Inlet Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. Breach Inlet Capital Management LLC owned approximately 0.21% of LGI Homes as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LGIH. CDAM UK Ltd lifted its stake in shares of LGI Homes by 14.7% during the 4th quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock worth $89,878,000 after purchasing an additional 86,265 shares during the last quarter. Ampfield Management L.P. lifted its stake in shares of LGI Homes by 13.0% during the 4th quarter. Ampfield Management L.P. now owns 571,857 shares of the financial services provider’s stock worth $76,148,000 after purchasing an additional 65,609 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of LGI Homes by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,443,038 shares of the financial services provider’s stock worth $192,158,000 after purchasing an additional 58,850 shares during the last quarter. Norges Bank purchased a new stake in shares of LGI Homes during the 4th quarter worth $7,776,000. Finally, Wasatch Advisors LP lifted its stake in shares of LGI Homes by 4.3% during the 4th quarter. Wasatch Advisors LP now owns 1,328,778 shares of the financial services provider’s stock worth $176,940,000 after purchasing an additional 54,606 shares during the last quarter. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on LGIH. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a research note on Friday, April 5th. StockNews.com cut LGI Homes from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, Wedbush reiterated an “underperform” rating and issued a $74.00 price target on shares of LGI Homes in a research note on Thursday, June 6th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $110.50.

LGI Homes Stock Performance

Shares of LGIH stock traded down $1.63 during mid-day trading on Tuesday, reaching $91.37. The stock had a trading volume of 188,614 shares, compared to its average volume of 202,880. The business’s fifty day moving average is $97.45 and its 200-day moving average is $112.26. The company has a current ratio of 12.36, a quick ratio of 0.43 and a debt-to-equity ratio of 0.74. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 11.63 and a beta of 1.91. LGI Homes, Inc. has a 1-year low of $84.15 and a 1-year high of $141.91.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $0.72 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.30). The company had revenue of $390.90 million for the quarter, compared to analyst estimates of $400.00 million. LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. The firm’s revenue was down 19.8% on a year-over-year basis. During the same period last year, the business earned $1.14 earnings per share. On average, research analysts forecast that LGI Homes, Inc. will post 9.07 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.