Cornercap Investment Counsel Inc. Has $627,000 Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Cornercap Investment Counsel Inc. reduced its position in LGI Homes, Inc. (NASDAQ:LGIH) by 52.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,292 shares of the financial services provider’s stock after selling 5,790 shares during the period. Cornercap Investment Counsel Inc.’s holdings in LGI Homes were worth $627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LGIH. Vanguard Group Inc. increased its position in LGI Homes by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,220,411 shares of the financial services provider’s stock worth $258,389,000 after purchasing an additional 19,800 shares during the period. Dimensional Fund Advisors LP grew its position in shares of LGI Homes by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,506,611 shares of the financial services provider’s stock worth $134,827,000 after buying an additional 53,031 shares during the period. Disciplined Growth Investors Inc. MN grew its position in shares of LGI Homes by 1.7% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 906,198 shares of the financial services provider’s stock worth $81,096,000 after buying an additional 15,340 shares during the period. Capital World Investors raised its stake in shares of LGI Homes by 6.2% during the first quarter. Capital World Investors now owns 846,202 shares of the financial services provider’s stock worth $98,473,000 after buying an additional 49,640 shares during the last quarter. Finally, River Road Asset Management LLC lifted its holdings in LGI Homes by 45.9% in the third quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider’s stock valued at $82,425,000 after buying an additional 218,923 shares during the period. Institutional investors own 84.89% of the company’s stock.

LGI Homes Price Performance

Shares of LGIH stock opened at $104.20 on Friday. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. LGI Homes, Inc. has a 12-month low of $84.00 and a 12-month high of $136.89. The firm has a fifty day moving average of $110.58 and a 200-day moving average of $103.05. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 12.49 and a beta of 1.97.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share 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 firm had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. During the same quarter in the previous year, the firm posted $2.84 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that LGI Homes, Inc. will post 8.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, LGI Homes presently has an average rating of “Hold” and a consensus target price of $126.00.

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.