Bank of New York Mellon Corp grew its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 34.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 274,296 shares of the financial services provider’s stock after buying an additional 69,653 shares during the period. Bank of New York Mellon Corp owned 1.27% of LGI Homes worth $11,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LS Investment Advisors LLC lifted its holdings in LGI Homes by 414.6% during the 1st quarter. LS Investment Advisors LLC now owns 3,103 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 2,500 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in LGI Homes by 85.3% during the 1st quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 1,422 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in 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 purchasing an additional 402 shares during the last quarter. Mason Street Advisors LLC lifted its holdings in LGI Homes by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 260 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in LGI Homes by 82.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 1,533 shares during the last quarter. 93.37% of the stock is owned by institutional investors.

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LGI Homes, Inc. (NASDAQ LGIH) opened at 45.58 on Tuesday. LGI Homes, Inc. has a 1-year low of $26.82 and a 1-year high of $49.95. The company has a market cap of $985.21 million, a price-to-earnings ratio of 12.10 and a beta of 0.08. The firm’s 50-day moving average price is $45.04 and its 200-day moving average price is $37.58.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.12. The firm had revenue of $324.20 million for the quarter, compared to the consensus estimate of $317.63 million. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The business’s quarterly revenue was up 45.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 earnings per share. Equities research analysts forecast that LGI Homes, Inc. will post $4.29 EPS for the current fiscal year.

Several analysts recently weighed in on the company. Deutsche Bank AG lifted their price target on LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. J P Morgan Chase & Co cut LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price target for the company. in a report on Wednesday, August 9th. Zacks Investment Research cut LGI Homes from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 12th. Wedbush reissued an “outperform” rating on shares of LGI Homes in a report on Saturday, September 16th. Finally, BidaskClub raised LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. LGI Homes presently has an average rating of “Buy” and an average price target of $47.00.

In other LGI Homes news, Director Bryan Christopher Sansbury sold 25,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $46.30, for a total transaction of $1,157,500.00. Following the sale, the director now owns 159,551 shares in the company, valued at $7,387,211.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Larry Snider sold 3,500 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $45.81, for a total value of $160,335.00. Following the sale, the insider now owns 191,948 shares in the company, valued at approximately $8,793,137.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,500 shares of company stock worth $1,743,735. Company insiders own 13.60% of the company’s stock.

About LGI Homes

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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Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

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