California State Teachers Retirement System Increases Holdings in LGI Homes, Inc. $LGIH

California State Teachers Retirement System grew its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 45.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,360 shares of the financial services provider’s stock after buying an additional 8,863 shares during the period. California State Teachers Retirement System’s holdings in LGI Homes were worth $1,121,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position 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 valued at $28,000 after buying an additional 237 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of LGI Homes in the 4th quarter worth about $29,000. Russell Investments Group Ltd. boosted its stake in shares of 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 purchasing an additional 305 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in LGI Homes in the 4th quarter worth approximately $32,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of LGI Homes by 1,759.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 827 shares during the period. 84.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LGIH has been the topic of several recent analyst reports. Wall Street Zen cut LGI Homes from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. lifted their price objective on LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Weiss Ratings raised LGI Homes from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 5th. Finally, Zacks Research raised shares of 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 assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $72.75.

LGI Homes Stock Up 1.6%

Shares of LGIH stock opened at $59.80 on Friday. The stock has a market cap of $1.39 billion, a P/E ratio of 20.98 and a beta of 1.83. The company has a current ratio of 17.74, a quick ratio of 0.61 and a debt-to-equity ratio of 0.74. The company has a 50 day simple moving average of $58.20 and a two-hundred day simple moving average of $50.60. LGI Homes, Inc. has a 12 month low of $33.55 and a 12 month high of $69.50.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. The firm had revenue of $516.05 million for the quarter, compared to the consensus estimate of $489.23 million. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%.The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share.

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.