Harspring Capital Management LLC Decreases Stake in LGI Homes, Inc. $LGIH

Harspring Capital Management LLC decreased its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 20.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,000 shares of the financial services provider’s stock after selling 14,500 shares during the period. LGI Homes accounts for about 1.1% of Harspring Capital Management LLC’s holdings, making the stock its 14th biggest position. Harspring Capital Management LLC owned 0.24% of LGI Homes worth $2,174,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LGIH. Caitong International Asset Management Co. Ltd boosted its holdings 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 during the period. Los Angeles Capital Management LLC bought a new stake in LGI Homes during the 4th quarter valued at $29,000. Russell Investments Group Ltd. raised its holdings in 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 acquiring an additional 305 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of LGI Homes during the fourth quarter worth $32,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of LGI Homes by 1,759.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 827 shares during the period. Institutional investors own 84.89% of the company’s stock.

Analyst Upgrades and Downgrades

LGIH has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research report on Friday, May 22nd. Wall Street Zen upgraded LGI Homes from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. JPMorgan Chase & Co. lifted their target price on LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, Zacks Research upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, LGI Homes currently has an average rating of “Hold” and an average price target of $72.75.

LGI Homes Stock Up 2.8%

Shares of NASDAQ:LGIH opened at $57.81 on Thursday. The firm has a fifty day moving average price of $54.01 and a two-hundred day moving average price of $49.60. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 18.95 and a beta of 1.82. The company has a debt-to-equity ratio of 0.81, a current ratio of 18.56 and a quick ratio of 0.70. LGI Homes, Inc. has a one year low of $33.55 and a one year high of $69.50.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share for the quarter, topping 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 firm had revenue of $319.74 million for the quarter, compared to analysts’ expectations of $328.22 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business’s quarterly revenue was down 9.0% on a year-over-year basis.

LGI Homes Company 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.