LS Investment Advisors LLC Reduces Stake in LGI Homes, Inc. (NASDAQ:LGIH)
LS Investment Advisors LLC decreased its position in LGI Homes, Inc. (NASDAQ:LGIH) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 3,069 shares of the financial services provider’s stock after selling 34 shares during the period. LS Investment Advisors LLC’s holdings in LGI Homes were worth $123,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. James Investment Research Inc. purchased a new position in LGI Homes during the second quarter worth $3,592,000. State of Alaska Department of Revenue increased its position in 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 buying an additional 1,533 shares during the period. Goldman Sachs Group Inc. increased its position in LGI Homes by 15.2% in the first quarter. Goldman Sachs Group Inc. now owns 66,980 shares of the financial services provider’s stock worth $2,271,000 after buying an additional 8,841 shares during the period. HighTower Advisors LLC purchased a new position in LGI Homes during the first quarter worth $434,000. Finally, Level Four Advisory Services LLC increased its position in LGI Homes by 15.2% in the first quarter. Level Four Advisory Services LLC now owns 17,028 shares of the financial services provider’s stock worth $576,000 after buying an additional 2,253 shares during the period. 87.66% of the stock is currently owned by institutional investors and hedge funds.
LGI Homes, Inc. (NASDAQ LGIH) traded up 1.24% during trading on Friday, hitting $45.86. The stock had a trading volume of 437,253 shares. The company has a market capitalization of $991.26 million, a P/E ratio of 12.18 and a beta of 0.07. LGI Homes, Inc. has a 1-year low of $26.82 and a 1-year high of $49.95. The stock’s 50-day moving average price is $43.01 and its 200-day moving average price is $34.69.
LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.12. LGI Homes had a net margin of 9.22% and a return on equity of 23.65%. The firm had revenue of $324.20 million during the quarter, compared to analyst estimates of $317.63 million. During the same period last year, the business earned $0.96 earnings per share. The business’s revenue was up 45.6% on a year-over-year basis. Analysts expect that LGI Homes, Inc. will post $4.20 earnings per share for the current year.
A number of research firms recently weighed in on LGIH. Zacks Investment Research downgraded LGI Homes from a “strong-buy” rating to a “hold” rating in a research note on Saturday. Deutsche Bank AG upped their price target on LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday. J P Morgan Chase & Co downgraded LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research note on Wednesday. BidaskClub raised LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Finally, Wedbush reaffirmed a “neutral” rating and set a $35.00 price target on shares of LGI Homes in a research note on Tuesday, July 4th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $44.20.
In other news, CEO Eric Thomas Lipar sold 10,000 shares of LGI Homes stock in a transaction that occurred on Monday, July 17th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.60% of the stock is currently owned by company insiders.
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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