Rafferty Asset Management LLC Acquires 13,909 Shares of LGI Homes, Inc. $LGIH

Rafferty Asset Management LLC raised its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 83.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,624 shares of the financial services provider’s stock after purchasing an additional 13,909 shares during the quarter. Rafferty Asset Management LLC owned 0.13% of LGI Homes worth $1,584,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of LGI Homes by 58.7% during the 1st quarter. Royal Bank of Canada now owns 4,721 shares of the financial services provider’s stock worth $313,000 after buying an additional 1,746 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in LGI Homes by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider’s stock worth $831,000 after acquiring an additional 621 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of LGI Homes by 5.3% in the first quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock worth $16,627,000 after acquiring an additional 12,524 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of LGI Homes by 44.1% in the second quarter. Envestnet Asset Management Inc. now owns 47,839 shares of the financial services provider’s stock worth $2,465,000 after acquiring an additional 14,652 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of LGI Homes by 58,700.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,176 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,174 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LGIH shares. Citigroup reiterated an “outperform” rating on shares of LGI Homes in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a research note on Monday, December 29th. Finally, Citizens Jmp increased their price target on LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 7th. Two 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 stock. Based on data from MarketBeat.com, LGI Homes has a consensus rating of “Hold” and an average target price of $74.63.

LGI Homes Stock Down 3.7%

Shares of NASDAQ LGIH opened at $46.83 on Friday. The company has a 50 day simple moving average of $51.79 and a 200 day simple moving average of $51.71. The company has a debt-to-equity ratio of 0.79, a current ratio of 20.98 and a quick ratio of 0.76. LGI Homes, Inc. has a 1 year low of $39.70 and a 1 year high of $77.38. The firm has a market cap of $1.08 billion, a PE ratio of 14.96 and a beta of 1.88.

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

About LGI Homes

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.