Angeles Wealth Management LLC Decreases Stake in LGI Homes, Inc. (NASDAQ:LGIH)

Angeles Wealth Management LLC lessened its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 26.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,351 shares of the financial services provider’s stock after selling 1,602 shares during the period. Angeles Wealth Management LLC’s holdings in LGI Homes were worth $289,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LGIH. Khrom Capital Management LLC boosted its position in shares of LGI Homes by 19.4% during the 4th quarter. Khrom Capital Management LLC now owns 1,095,801 shares of the financial services provider’s stock worth $97,965,000 after purchasing an additional 177,698 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of LGI Homes in the 4th quarter valued at about $15,507,000. GAMMA Investing LLC lifted its stake in shares of LGI Homes by 21,108.3% in the first quarter. GAMMA Investing LLC now owns 58,959 shares of the financial services provider’s stock valued at $3,919,000 after purchasing an additional 58,681 shares during the period. Millennium Management LLC boosted its holdings in LGI Homes by 96.5% during the fourth quarter. Millennium Management LLC now owns 115,406 shares of the financial services provider’s stock worth $10,317,000 after buying an additional 56,664 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in LGI Homes by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 2,274,907 shares of the financial services provider’s stock worth $203,377,000 after buying an additional 54,039 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Analyst Ratings Changes

LGIH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of LGI Homes from $52.00 to $47.00 and set an “underweight” rating for the company in a report on Wednesday, July 9th. Wedbush restated a “neutral” rating and issued a $93.00 price target on shares of LGI Homes in a report on Monday, July 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price objective on shares of LGI Homes in a report on Wednesday, April 30th.

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $57.58 on Friday. 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 company’s 50-day moving average price is $52.31 and its 200 day moving average price is $65.15. LGI Homes, Inc. has a 52 week low of $47.17 and a 52 week high of $125.83. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 7.43 and a beta of 1.76.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.29). LGI Homes had a net margin of 8.46% and a return on equity of 9.49%. The business had revenue of $351.42 million during the quarter, compared to analysts’ expectations of $380.07 million. During the same period last year, the company earned $0.72 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, research analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

LGI Homes 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.