Louisiana State Employees Retirement System Purchases Shares of 9,000 LGI Homes, Inc. $LGIH

Louisiana State Employees Retirement System acquired a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH) in the first quarter, HoldingsChannel.com reports. The firm acquired 9,000 shares of the financial services provider’s stock, valued at approximately $356,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of LGI Homes by 75.5% during 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 last quarter. Russell Investments Group Ltd. raised its holdings in LGI Homes by 106.6% in 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. Pinnacle Holdings LLC raised its holdings in LGI Homes by 3.7% in the 4th quarter. Pinnacle Holdings LLC now owns 11,174 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 396 shares during the period. Swiss National Bank lifted its position in LGI Homes by 1.5% during the third quarter. Swiss National Bank now owns 40,781 shares of the financial services provider’s stock worth $2,109,000 after acquiring an additional 600 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of LGI Homes by 20.0% during the fourth quarter. GAMMA Investing LLC now owns 3,715 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 619 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Performance

NASDAQ LGIH opened at $57.08 on Thursday. The firm has a 50-day moving average price of $51.72 and a two-hundred day moving average price of $48.53. LGI Homes, Inc. has a 12-month low of $33.55 and a 12-month high of $69.50. The company has a market capitalization of $1.33 billion, a P/E ratio of 18.71 and a beta of 1.82. The company has a quick ratio of 0.70, a current ratio of 18.56 and a debt-to-equity ratio of 0.81.

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

Analyst Upgrades and Downgrades

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

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.