Pinnacle Holdings LLC Buys Shares of 14,712 LGI Homes, Inc. $LGIH

Pinnacle Holdings LLC bought a new stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,712 shares of the financial services provider’s stock, valued at approximately $937,000. Pinnacle Holdings LLC owned about 0.06% of LGI Homes as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Royal Bank of Canada grew its position in LGI Homes by 58.7% in the 1st quarter. Royal Bank of Canada now owns 4,721 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 1,746 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of LGI Homes by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider’s stock valued at $831,000 after purchasing an additional 621 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of LGI Homes by 5.3% during the first quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock valued at $16,627,000 after purchasing an additional 12,524 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 305 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of LGI Homes by 19.0% in the second quarter. Invesco Ltd. now owns 85,400 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 13,611 shares during the last quarter. 84.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Wall Street Zen upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Weiss Ratings downgraded shares of LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, LGI Homes has an average rating of “Hold” and a consensus target price of $72.75.

LGI Homes Stock Performance

NASDAQ LGIH opened at $58.16 on Monday. LGI Homes, Inc. has a 12-month low of $33.55 and a 12-month high of $69.50. The company has a fifty day simple moving average of $58.68 and a two-hundred day simple moving average of $50.88. The company has a current ratio of 17.74, a quick ratio of 0.61 and a debt-to-equity ratio of 0.74. The stock has a market cap of $1.35 billion, a P/E ratio of 20.41 and a beta of 1.83.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The firm had revenue of $516.05 million for the quarter, compared to analyst estimates of $489.23 million. During the same period in the previous year, the company earned $1.36 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year.

About LGI Homes

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.