River Road Asset Management LLC Buys 218,923 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

River Road Asset Management LLC lifted its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 45.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 695,455 shares of the financial services provider’s stock after purchasing an additional 218,923 shares during the quarter. LGI Homes comprises 1.1% of River Road Asset Management LLC’s investment portfolio, making the stock its 28th biggest holding. River Road Asset Management LLC owned about 2.95% of LGI Homes worth $82,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in LGIH. First Horizon Advisors Inc. lifted its position in LGI Homes by 32.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 108 shares in the last quarter. Innealta Capital LLC bought a new position in LGI Homes in the 2nd quarter valued at about $39,000. Allspring Global Investments Holdings LLC bought a new position in LGI Homes in the 3rd quarter valued at about $43,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in LGI Homes in the 1st quarter valued at about $52,000. Finally, CWM LLC lifted its position in LGI Homes by 27.5% in 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 in the last quarter. Institutional investors own 84.89% of the company’s stock.

LGI Homes Stock Performance

NASDAQ:LGIH opened at $103.54 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 12.63. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 12.58 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 firm has a 50-day moving average price of $110.42 and a two-hundred day moving average price of $102.39.

Analysts Set New Price Targets

Several brokerages recently weighed in on LGIH. Wedbush reaffirmed a “neutral” rating and issued a $125.00 price target on shares of LGI Homes in a research report on Friday, October 4th. JPMorgan Chase & Co. dropped their price target on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LGI Homes currently has a consensus rating of “Hold” and an average price target of $126.00.

LGI Homes Company Profile

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.