Basswood Capital Management L.L.C. Makes New Investment in LGI Homes, Inc. (NASDAQ:LGIH)

Basswood Capital Management L.L.C. bought a new position in LGI Homes, Inc. (NASDAQ:LGIH) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 26,185 shares of the financial services provider’s stock, valued at approximately $3,103,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd grew its position in LGI Homes by 5,860.2% in the 2nd quarter. Altshuler Shaham Ltd now owns 454,760 shares of the financial services provider’s stock worth $40,696,000 after purchasing an additional 447,130 shares in the last quarter. Khrom Capital Management LLC bought a new position in shares of LGI Homes in the second quarter valued at approximately $21,477,000. River Road Asset Management LLC increased its position in shares of LGI Homes by 45.9% during the third quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider’s stock valued at $82,425,000 after acquiring an additional 218,923 shares during the last quarter. Marshall Wace LLP lifted its holdings in LGI Homes by 51.8% during the second quarter. Marshall Wace LLP now owns 269,798 shares of the financial services provider’s stock worth $24,144,000 after acquiring an additional 92,081 shares during the period. Finally, Bank of Montreal Can boosted its position in LGI Homes by 2,629.8% in the second quarter. Bank of Montreal Can now owns 86,889 shares of the financial services provider’s stock worth $8,550,000 after purchasing an additional 83,706 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reaffirmed a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a research report on Wednesday, November 6th.

LGI Homes Trading Down 0.7 %

Shares of LGIH stock opened at $109.49 on Monday. LGI Homes, Inc. has a 12-month low of $84.00 and a 12-month high of $136.89. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $109.10 and a 200-day moving average of $103.77. The firm has a market cap of $2.57 billion, a P/E ratio of 13.13 and a beta of 1.97.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.41. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The business had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. During the same period last year, the business posted $2.84 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that LGI Homes, Inc. will post 8.72 earnings per share for the current year.

About LGI Homes

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.