Credit Suisse AG has increased its ownership in LGI Homes, Inc. by 4.1% during the first quarter, according to the latest disclosure with the SEC. The financial services provider now holds 25,468 shares of LGI Homes, worth $2,904,000. Other institutional investors and hedge funds have also adjusted their positions in the company. WealthPLAN Partners LLC entered a new position in LGI Homes, while Tower Research Capital LLC TRC, US Bancorp DE, Federated Hermes Inc., and Zurcher Kantonalbank Zurich Cantonalbank increased their holdings. 89.43% of LGI Homes’ stock is now owned by institutional investors and hedge funds.
LGI Homes (NASDAQ:LGIH) has recently received mixed ratings from Wall Street analysts. TheStreet upgraded LGI Homes from a “c+” rating to a “b-” rating, while StockNews.com initiated coverage with a “sell” rating. JPMorgan Chase & Co., Seaport Res Ptn, and BTIG Research also issued their opinions on the company’s stock. Currently, three analysts have rated the stock as a sell, one as a hold, and two as a buy, with an average target price of $116.25.
LGI Homes reported its quarterly earnings data on August 1st, with earnings per share of $2.25, surpassing analysts’ expectations. The company’s revenue for the quarter was $645.70 million, slightly lower than expected. For the full year, equities analysts predict that LGI Homes will post earnings per share of 8.14.
LGI Homes, Inc. primarily designs, constructs, and sells homes under the LGI Homes and Terrata Homes brands. The company also engages in the wholesale business, selling homes to institutions looking to acquire single-family rental properties.
Sources:
– SEC filing by Credit Suisse AG
– MarketBeat analyst reports
– LGI Homes company disclosure