Macquarie Group Ltd. Has $1,012,000 Position in LGI Homes Inc. (LGIH)
Macquarie Group Ltd. increased its stake in shares of LGI Homes Inc. (NASDAQ:LGIH) by 31.3% during the second quarter, Holdings Channel reports. The institutional investor owned 31,697 shares of the company’s stock after buying an additional 7,554 shares during the period. Macquarie Group Ltd. owned approximately 0.15% of LGI Homes worth $1,012,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Paradigm Asset Management Co. LLC boosted its stake in shares of LGI Homes by 8.5% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,100 shares of the company’s stock worth $163,000 after buying an additional 400 shares during the period. AQR Capital Management LLC boosted its stake in shares of LGI Homes by 0.6% in the second quarter. AQR Capital Management LLC now owns 72,451 shares of the company’s stock worth $2,314,000 after buying an additional 416 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of LGI Homes by 5.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,839 shares of the company’s stock worth $378,000 after buying an additional 633 shares during the period. American International Group Inc. boosted its stake in shares of LGI Homes by 8.6% in the second quarter. American International Group Inc. now owns 8,893 shares of the company’s stock worth $284,000 after buying an additional 701 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in shares of LGI Homes by 14.5% in the second quarter. Nationwide Fund Advisors now owns 10,159 shares of the company’s stock worth $324,000 after buying an additional 1,289 shares during the period. 66.98% of the stock is currently owned by hedge funds and other institutional investors.
LGI Homes Inc. (NASDAQ:LGIH) opened at 36.35 on Thursday. The firm’s 50-day moving average price is $35.74 and its 200-day moving average price is $30.15. LGI Homes Inc. has a 12 month low of $18.74 and a 12 month high of $40.47. The stock has a market cap of $764.19 million, a P/E ratio of 12.01 and a beta of -0.03.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.09. The firm had revenue of $222.72 million for the quarter, compared to analysts’ expectations of $219.52 million. LGI Homes had a return on equity of 24.52% and a net margin of 8.63%. The firm’s revenue for the quarter was up 40.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, analysts predict that LGI Homes Inc. will post $3.40 earnings per share for the current year.
LGIH has been the subject of a number of research analyst reports. JMP Securities reiterated a “buy” rating on shares of LGI Homes in a research note on Saturday, July 9th. Zacks Investment Research raised LGI Homes from a “sell” rating to a “hold” rating in a report on Monday, May 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $36.33.
About LGI Homes
LGI Homes, Inc is a homebuilder. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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