Ampfield Management L.P. Has $62.42 Million Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Ampfield Management L.P. cut its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 6.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 536,352 shares of the financial services provider’s stock after selling 35,505 shares during the period. LGI Homes makes up 43.2% of Ampfield Management L.P.’s holdings, making the stock its biggest holding. Ampfield Management L.P. owned 2.27% of LGI Homes worth $62,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in LGI Homes during the fourth quarter worth about $38,000. First Horizon Advisors Inc. boosted its holdings in LGI Homes by 35.8% during the fourth quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 93 shares during the last quarter. Mather Group LLC. purchased a new position in LGI Homes during the first quarter worth about $47,000. International Assets Investment Management LLC purchased a new position in LGI Homes during the fourth quarter worth about $71,000. Finally, Financial Management Professionals Inc. boosted its holdings in LGI Homes by 27.3% during the fourth quarter. Financial Management Professionals Inc. now owns 537 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 115 shares during the last quarter. 84.89% of the stock is owned by institutional investors.

LGI Homes Stock Performance

Shares of NASDAQ LGIH traded up $0.33 during midday trading on Friday, hitting $89.49. The company’s stock had a trading volume of 430,880 shares, compared to its average volume of 219,679. The stock has a fifty day moving average price of $95.47 and a 200 day moving average price of $109.64. LGI Homes, Inc. has a one year low of $84.15 and a one year high of $141.91. 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 capitalization of $2.11 billion, a price-to-earnings ratio of 11.19 and a beta of 1.91.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a report on Friday, April 5th. StockNews.com cut shares of 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 target price on shares of LGI Homes in a research note on Thursday, June 6th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $110.50.

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.