LGI Homes, Inc. (LGIH) Shares Bought by Nordea Investment Management AB
Nordea Investment Management AB raised its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,060 shares of the financial services provider’s stock after buying an additional 1,511 shares during the period. Nordea Investment Management AB owned about 0.25% of LGI Homes worth $2,172,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Teachers Advisors LLC lifted its position in shares of LGI Homes by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 27,097 shares of the financial services provider’s stock valued at $778,000 after buying an additional 746 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of LGI Homes by 6.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 24,404 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 1,493 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of LGI Homes by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 204,643 shares of the financial services provider’s stock worth $6,940,000 after acquiring an additional 6,690 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of LGI Homes by 14.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 402 shares during the period. Finally, Comerica Bank boosted its stake in shares of LGI Homes by 4.5% during the 1st quarter. Comerica Bank now owns 18,790 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 810 shares during the period. Hedge funds and other institutional investors own 93.37% of the company’s stock.
A number of research analysts recently weighed in on LGIH shares. Wedbush raised LGI Homes from a “neutral” rating to an “outperform” rating and set a $49.00 target price on the stock in a report on Thursday, August 31st. ValuEngine downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Deutsche Bank AG lifted their price objective on shares of LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. BidaskClub cut shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 25th. Finally, J P Morgan Chase & Co downgraded shares of LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a report on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. LGI Homes presently has a consensus rating of “Buy” and an average target price of $47.00.
Shares of LGI Homes, Inc. (NASDAQ LGIH) opened at 48.98 on Tuesday. The stock’s 50 day moving average price is $45.10 and its 200-day moving average price is $38.56. LGI Homes, Inc. has a one year low of $26.82 and a one year high of $50.91. The company has a market cap of $1.06 billion, a PE ratio of 13.01 and a beta of 0.11.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.12. The business had revenue of $324.20 million for the quarter, compared to analysts’ expectations of $317.63 million. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The business’s revenue was up 45.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. On average, analysts expect that LGI Homes, Inc. will post $4.29 EPS for the current year.
In related news, Director Bryan Christopher Sansbury sold 25,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $46.30, for a total value of $1,157,500.00. Following the transaction, the director now directly owns 159,551 shares of the company’s stock, valued at approximately $7,387,211.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric Thomas Lipar sold 10,000 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $42.59, for a total transaction of $425,900.00. Following the completion of the transaction, the chief executive officer now directly owns 524,175 shares in the company, valued at $22,324,613.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,500 shares of company stock valued at $1,743,735. Insiders own 13.60% of the company’s stock.
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LGI Homes 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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