Jennison Associates LLC Takes $902,000 Position in LGI Homes, Inc. (NASDAQ:LGIH)

Jennison Associates LLC acquired a new stake in LGI Homes, Inc. (NASDAQ:LGIH) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,358 shares of the financial services provider’s stock, valued at approximately $902,000.

Several other institutional investors have also bought and sold shares of the company. Avalon Investment & Advisory increased its position in shares of LGI Homes by 2.6% during the third quarter. Avalon Investment & Advisory now owns 28,887 shares of the financial services provider’s stock worth $4,099,000 after purchasing an additional 726 shares in the last quarter. Cim LLC increased its position in shares of LGI Homes by 8.5% during the third quarter. Cim LLC now owns 2,633 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 206 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of LGI Homes by 1.8% during the third quarter. PNC Financial Services Group Inc. now owns 6,022 shares of the financial services provider’s stock worth $855,000 after purchasing an additional 105 shares in the last quarter. Deutsche Bank AG increased its position in shares of LGI Homes by 6.9% during the third quarter. Deutsche Bank AG now owns 73,034 shares of the financial services provider’s stock worth $10,364,000 after purchasing an additional 4,706 shares in the last quarter. Finally, Seizert Capital Partners LLC purchased a new stake in shares of LGI Homes during the third quarter worth approximately $3,324,000. Institutional investors and hedge funds own 85.02% of the company’s stock.

In other news, Director Steven Randal Smith sold 2,522 shares of the stock in a transaction dated Wednesday, December 22nd. The stock was sold at an average price of $152.60, for a total value of $384,857.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.80% of the stock is owned by corporate insiders.

Several analysts recently commented on LGIH shares. Wells Fargo & Company upgraded LGI Homes from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $125.00 to $160.00 in a research report on Thursday, December 9th. Zacks Investment Research raised LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 5th. JPMorgan Chase & Co. decreased their price target on LGI Homes from $156.00 to $115.00 and set an “underweight” rating on the stock in a research note on Thursday, October 14th. Finally, BTIG Research reaffirmed a “hold” rating on shares of LGI Homes in a research note on Thursday, October 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, LGI Homes currently has an average rating of “Hold” and a consensus target price of $157.60.

LGIH opened at $139.02 on Friday. The stock’s 50-day moving average price is $147.47 and its 200 day moving average price is $151.55. LGI Homes, Inc. has a 12-month low of $97.20 and a 12-month high of $188.00. The company has a current ratio of 13.59, a quick ratio of 1.01 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 7.70 and a beta of 1.51.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, November 2nd. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.03 by $0.02. LGI Homes had a return on equity of 36.19% and a net margin of 14.45%. The firm had revenue of $751.61 million for the quarter, compared to analyst estimates of $734.17 million. During the same quarter in the prior year, the company earned $2.45 EPS. On average, research analysts forecast that LGI Homes, Inc. will post 16.99 earnings per share for the current year.

LGI Homes Profile

LGI Homes, Inc engages in the design, construction, marketing, and sale of new homes. It focuses on residential land development business. It operates through the following segments: Central, West, Southeast, Florida, and Northwest. The company was founded by Eric Thomas Lipar in 2003 and is headquartered in The Woodlands, TX.

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Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

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