Basswood Capital Management L.L.C. Purchases Shares of 26,185 LGI Homes, Inc. (NASDAQ:LGIH)

Basswood Capital Management L.L.C. purchased a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH) in the third quarter, according to its most recent filing with the SEC. The firm purchased 26,185 shares of the financial services provider’s stock, valued at approximately $3,103,000. Basswood Capital Management L.L.C. owned 0.11% of LGI Homes at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Innealta Capital LLC acquired a new stake in LGI Homes during the second quarter worth approximately $39,000. First Horizon Advisors Inc. grew its position in shares of LGI Homes by 32.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after buying an additional 108 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of LGI Homes in the 3rd quarter valued at $43,000. KBC Group NV increased its stake in shares of LGI Homes by 29.8% in the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 168 shares in the last quarter. Finally, CWM LLC lifted its position in shares of LGI Homes by 27.5% during the 3rd quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 187 shares during the period. 84.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed a “neutral” rating and issued a $125.00 price target on shares of LGI Homes in a research note on Wednesday, November 6th.

LGI Homes Trading Down 0.7 %

Shares of LGI Homes stock opened at $109.49 on Monday. The stock has a market capitalization of $2.57 billion, a PE ratio of 13.13 and a beta of 1.97. LGI Homes, Inc. has a 52 week low of $84.00 and a 52 week high of $136.89. The stock has a 50 day moving average price of $109.10 and a two-hundred day moving average price of $103.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. During the same quarter in the previous year, the business posted $2.84 EPS. LGI Homes’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that LGI Homes, Inc. will post 8.72 earnings per share for the current fiscal 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.