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

Philadelphia Financial Management of San Francisco LLC bought a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 175,175 shares of the financial services provider’s stock, valued at approximately $11,155,144. LGI Homes comprises about 0.0% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 10th biggest position. Philadelphia Financial Management of San Francisco LLC owned approximately 0.75% of LGI Homes as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of LGI Homes by 58.7% in the first quarter. Royal Bank of Canada now owns 4,721 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 1,746 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of LGI Homes by 5.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider’s stock valued at $831,000 after buying an additional 621 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of LGI Homes by 5.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock worth $16,627,000 after purchasing an additional 12,524 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of LGI Homes by 106.6% during the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock worth $30,000 after buying an additional 305 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of LGI Homes by 19.0% in the second quarter. Invesco Ltd. now owns 85,400 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 13,611 shares in the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Wall Street Analyst Weigh In

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

LGI Homes Stock Performance

LGI Homes stock traded up $0.51 on Friday, reaching $57.50. 187,040 shares of the stock were exchanged, compared to its average volume of 413,578. The firm has a fifty day moving average price of $58.99 and a two-hundred day moving average price of $50.90. 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, Inc. has a twelve month low of $33.55 and a twelve month high of $69.50. The stock has a market cap of $1.34 billion, a PE ratio of 20.18 and a beta of 1.83.

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

LGI Homes Company Profile

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.