LGI Homes, Inc. $LGIH Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 205.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 9,682 shares of the financial services provider’s stock after buying an additional 6,515 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in LGI Homes were worth $499,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Jump Financial LLC purchased a new stake in shares of LGI Homes during the first quarter worth approximately $2,144,000. Invesco Ltd. increased its holdings in LGI Homes by 10.2% in the 1st quarter. Invesco Ltd. now owns 71,789 shares of the financial services provider’s stock valued at $4,772,000 after purchasing an additional 6,621 shares during the last quarter. EntryPoint Capital LLC raised its position in LGI Homes by 47.3% in the first quarter. EntryPoint Capital LLC now owns 4,490 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 1,441 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in LGI Homes during the first quarter worth $71,000. Finally, Nuveen LLC acquired a new position in LGI Homes during the first quarter worth $4,313,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Capital One Financial set a $60.00 price objective on LGI Homes in a research note on Thursday, October 9th. Wedbush restated a “neutral” rating and set a $95.00 target price on shares of LGI Homes in a report on Monday, October 6th. Citigroup reiterated a “market outperform” rating on shares of LGI Homes in a research note on Wednesday, August 27th. JPMorgan Chase & Co. increased their price target on shares of LGI Homes from $47.00 to $48.50 and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Finally, JMP Securities raised their price objective on shares of LGI Homes from $75.00 to $85.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 27th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, LGI Homes has an average rating of “Hold” and an average price target of $72.13.

LGI Homes Price Performance

LGI Homes stock opened at $44.46 on Thursday. The company has a current ratio of 18.18, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $49.00 and a 200-day simple moving average of $53.55. The stock has a market cap of $1.03 billion, a P/E ratio of 6.71 and a beta of 1.75. LGI Homes, Inc. has a 12-month low of $39.70 and a 12-month high of $114.56.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). The business had revenue of $396.63 million during the quarter, compared to analyst estimates of $421.66 million. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. Equities analysts expect that LGI Homes, Inc. will post 8.46 EPS 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.