Aigen Investment Management LP Sells 1,553 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Aigen Investment Management LP lessened its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 32.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,174 shares of the financial services provider’s stock after selling 1,553 shares during the quarter. Aigen Investment Management LP’s holdings in LGI Homes were worth $376,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. UniSuper Management Pty Ltd acquired a new position in LGI Homes in the 1st quarter valued at approximately $583,000. Denali Advisors LLC bought a new stake in shares of LGI Homes in the second quarter worth $993,000. Capital World Investors increased its holdings in LGI Homes by 6.2% in the first quarter. Capital World Investors now owns 846,202 shares of the financial services provider’s stock valued at $98,473,000 after purchasing an additional 49,640 shares during the period. Epoch Investment Partners Inc. raised its position in LGI Homes by 52.7% during the 1st quarter. Epoch Investment Partners Inc. now owns 137,150 shares of the financial services provider’s stock worth $15,960,000 after purchasing an additional 47,343 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in LGI Homes by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 2,220,411 shares of the financial services provider’s stock worth $258,389,000 after buying an additional 19,800 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a “neutral” rating and issued a $125.00 price target on shares of LGI Homes in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LGI Homes currently has an average rating of “Hold” and a consensus target price of $126.00.

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $104.94 on Friday. The company has a market capitalization of $2.47 billion, a PE ratio of 12.58 and a beta of 1.97. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. LGI Homes, Inc. has a twelve month low of $84.00 and a twelve month high of $136.89. The firm has a fifty day simple moving average of $110.59 and a 200 day simple moving average of $102.99.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.41. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The firm had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. During the same period last year, the company posted $2.84 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that LGI Homes, Inc. will post 8.88 EPS for the current year.

LGI Homes Company 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.