Harspring Capital Management LLC Sells 14,500 Shares of LGI Homes, Inc. $LGIH

Harspring Capital Management LLC reduced its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 20.9% during the first quarter, HoldingsChannel reports. The firm owned 55,000 shares of the financial services provider’s stock after selling 14,500 shares during the period. LGI Homes comprises about 1.1% of Harspring Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Harspring Capital Management LLC’s holdings in LGI Homes were worth $2,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its stake in LGI Homes by 75.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after buying an additional 237 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after buying an additional 305 shares in the last quarter. Pinnacle Holdings LLC lifted its holdings in shares of LGI Homes by 3.7% during the 4th quarter. Pinnacle Holdings LLC now owns 11,174 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 396 shares during the last quarter. Swiss National Bank lifted its holdings in shares of LGI Homes by 1.5% during the 3rd quarter. Swiss National Bank now owns 40,781 shares of the financial services provider’s stock worth $2,109,000 after acquiring an additional 600 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in LGI Homes by 20.0% in the fourth quarter. GAMMA Investing LLC now owns 3,715 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 619 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Price Performance

Shares of NASDAQ:LGIH opened at $57.81 on Thursday. The company has a quick ratio of 0.70, a current ratio of 18.56 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.34 billion, a PE ratio of 18.95 and a beta of 1.82. The company’s fifty day moving average is $54.01 and its 200 day moving average is $49.60. LGI Homes, Inc. has a 52 week low of $33.55 and a 52 week high of $69.50.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.22. LGI Homes had a net margin of 4.22% and a return on equity of 3.80%. The business had revenue of $319.74 million during the quarter, compared to analyst estimates of $328.22 million. During the same period in the prior year, the business posted $0.17 earnings per share. The company’s revenue was down 9.0% on a year-over-year basis.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wall Street Zen raised LGI Homes from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Zacks Research upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. raised their price objective on LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, LGI Homes currently has a consensus rating of “Hold” and a consensus target price of $72.75.

LGI Homes Profile

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.