Rafferty Asset Management LLC Has $1.58 Million Stock Holdings in LGI Homes, Inc. $LGIH

Rafferty Asset Management LLC lifted its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 83.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,624 shares of the financial services provider’s stock after acquiring an additional 13,909 shares during the quarter. Rafferty Asset Management LLC’s holdings in LGI Homes were worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in LGI Homes by 58.7% in the first 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. lifted its position in shares of LGI Homes by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider’s stock worth $831,000 after purchasing an additional 621 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of LGI Homes by 5.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock worth $16,627,000 after purchasing an additional 12,524 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of LGI Homes by 44.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 47,839 shares of the financial services provider’s stock valued at $2,465,000 after purchasing an additional 14,652 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of LGI Homes by 58,700.0% during the second quarter. Hantz Financial Services Inc. now owns 1,176 shares of the financial services provider’s stock worth $61,000 after buying an additional 1,174 shares during the period. 84.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LGIH has been the subject of a number of analyst reports. Citigroup reissued an “outperform” rating on shares of LGI Homes in a research note on Wednesday, January 7th. Citizens Jmp increased their price target on LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.63.

LGI Homes Stock Down 3.7%

LGI Homes stock opened at $46.83 on Friday. The company has a market capitalization of $1.08 billion, a PE ratio of 14.96 and a beta of 1.88. LGI Homes, Inc. has a 12-month low of $39.70 and a 12-month high of $77.38. The firm’s fifty day moving average is $51.79 and its 200 day moving average is $51.71. The company has a quick ratio of 0.76, a current ratio of 20.98 and a debt-to-equity ratio of 0.79.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. LGI Homes had a net margin of 4.25% and a return on equity of 4.08%. The firm had revenue of $473.97 million during the quarter, compared to the consensus estimate of $479.60 million. During the same period in the previous year, the firm posted $2.15 earnings per share. The business’s revenue was down 15.0% compared to the same quarter last year. As a group, sell-side analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

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.