Philadelphia Financial Management of San Francisco LLC Invests $11.16 Billion in LGI Homes, Inc. $LGIH

Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 175,175 shares of the financial services provider’s stock, valued at approximately $11,155,144,000. LGI Homes comprises approximately 2.2% of Philadelphia Financial Management of San Francisco LLC’s portfolio, making the stock its 10th biggest holding.

A number of other institutional investors have also bought and sold shares of the business. Bank of America Corp DE acquired a new stake in shares of LGI Homes in the 2nd quarter worth $5,048,000. Jupiter Topco LLC purchased a new position in LGI Homes during the second quarter worth about $602,000. Hsbc Holdings PLC purchased a new position in LGI Homes during the second quarter worth about $914,000. Legal & General Group Plc acquired a new position in LGI Homes in the 2nd quarter valued at about $3,085,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of LGI Homes in the 2nd quarter valued at approximately $551,000. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Stock Down 1.4%

Shares of NASDAQ LGIH opened at $58.22 on Thursday. The stock has a market cap of $1.35 billion, a P/E ratio of 20.43 and a beta of 1.83. The business’s fifty day simple moving average is $58.99 and its 200-day simple moving average is $50.92. LGI Homes, Inc. has a 12-month low of $33.55 and a 12-month high of $69.50. The company has a current ratio of 17.74, a quick ratio of 0.61 and a debt-to-equity ratio of 0.74.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%.The company had revenue of $516.05 million for the quarter, compared to the consensus estimate of $489.23 million. During the same quarter in the prior year, the business earned $1.36 EPS. LGI Homes’s revenue was up 6.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

LGIH has been the topic of a number of research analyst reports. Weiss Ratings downgraded LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 20th. JPMorgan Chase & Co. boosted their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, Wall Street Zen raised shares of LGI Homes from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, LGI Homes currently has an average rating of “Hold” and an average price target of $72.75.

About LGI Homes

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.