Envestnet Portfolio Solutions Inc. Boosts Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Envestnet Portfolio Solutions Inc. grew its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 8.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,023 shares of the financial services provider’s stock after buying an additional 245 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in LGI Homes were worth $201,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its stake in shares of LGI Homes by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 141 shares during the period. Mariner LLC boosted its position in LGI Homes by 3.2% during the 4th quarter. Mariner LLC now owns 4,581 shares of the financial services provider’s stock valued at $410,000 after buying an additional 143 shares during the period. Tower Research Capital LLC TRC boosted its position in LGI Homes by 10.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider’s stock valued at $198,000 after buying an additional 212 shares during the period. PNC Financial Services Group Inc. grew its holdings in LGI Homes by 8.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,136 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 402 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of LGI Homes by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,881 shares of the financial services provider’s stock valued at $1,062,000 after acquiring an additional 468 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $140.00 price target on shares of LGI Homes in a report on Wednesday, April 30th. Wedbush cut their price objective on LGI Homes from $100.00 to $93.00 and set a “neutral” rating on the stock in a research report on Thursday, June 5th.

LGI Homes Trading Down 0.1%

Shares of LGIH opened at $51.52 on Tuesday. LGI Homes, Inc. has a 1-year low of $47.17 and a 1-year high of $125.83. The company has a current ratio of 16.58, a quick ratio of 0.54 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $53.19 and its 200-day moving average price is $69.69. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.65 and a beta of 1.78.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.29). The firm had revenue of $351.42 million for the quarter, compared to the consensus estimate of $380.07 million. LGI Homes had a net margin of 8.46% and a return on equity of 9.49%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. Sell-side analysts anticipate that LGI Homes, Inc. will post 8.46 EPS for the current year.

About LGI Homes

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.