LGI Homes Inc (LGIH) Position Trimmed by Nordea Investment Management AB
Nordea Investment Management AB decreased its position in shares of LGI Homes Inc (NASDAQ:LGIH) by 18.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,930 shares of the financial services provider’s stock after selling 10,130 shares during the quarter. Nordea Investment Management AB owned 0.20% of LGI Homes worth $2,134,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its holdings in shares of LGI Homes by 82.4% in the second quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 1,533 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of LGI Homes by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,633 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 543 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of LGI Homes in the third quarter worth about $199,000. LS Investment Advisors LLC lifted its holdings in shares of LGI Homes by 37.3% in the third quarter. LS Investment Advisors LLC now owns 4,214 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 1,145 shares during the last quarter. Finally, Albion Financial Group UT bought a new position in shares of LGI Homes in the third quarter worth about $213,000. 92.01% of the stock is owned by institutional investors and hedge funds.
LGIH has been the subject of a number of research reports. Wedbush raised shares of LGI Homes from a “neutral” rating to an “outperform” rating and set a $49.00 target price for the company in a report on Thursday, August 31st. Zacks Investment Research cut shares of LGI Homes from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. JMP Securities increased their target price on shares of LGI Homes from $62.00 to $68.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 8th. Deutsche Bank increased their target price on shares of LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Finally, BidaskClub cut shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. LGI Homes currently has a consensus rating of “Buy” and a consensus price target of $54.33.
LGI Homes Inc (LGIH) opened at $70.26 on Friday. The stock has a market cap of $1,452.96, a P/E ratio of 15.47, a P/E/G ratio of 1.34 and a beta of 0.27. LGI Homes Inc has a fifty-two week low of $26.82 and a fifty-two week high of $71.96. The company has a quick ratio of 0.86, a current ratio of 8.91 and a debt-to-equity ratio of 1.04.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.10. The business had revenue of $365.90 million during the quarter, compared to analyst estimates of $355.81 million. LGI Homes had a net margin of 9.26% and a return on equity of 25.51%. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. equities analysts expect that LGI Homes Inc will post 4.54 earnings per share for the current year.
In other LGI Homes news, CEO Eric Thomas Lipar sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $54.27, for a total transaction of $1,356,750.00. Following the completion of the sale, the chief executive officer now owns 504,593 shares of the company’s stock, valued at approximately $27,384,262.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Larry Snider sold 20,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $62.75, for a total transaction of $1,255,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,601 shares of company stock valued at $4,233,916. 13.60% of the stock is owned by company insiders.
LGI Homes Company Profile
LGI Homes, Inc is a homebuilder and land developer. 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 operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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