State of Alaska Department of Revenue raised its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 82.4% during the second quarter, Holdings Channel reports. The fund owned 3,393 shares of the financial services provider’s stock after buying an additional 1,533 shares during the period. State of Alaska Department of Revenue’s holdings in LGI Homes were worth $136,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in LGIH. BNP Paribas Arbitrage SA raised its position in shares of LGI Homes by 14.2% in the first quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock valued at $110,000 after buying an additional 402 shares during the period. Bank of New York Mellon Corp raised its position in shares of LGI Homes by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 204,643 shares of the financial services provider’s stock valued at $6,940,000 after buying an additional 6,690 shares during the period. Heartland Advisors Inc. purchased a new position in shares of LGI Homes during the first quarter valued at about $23,805,000. Great West Life Assurance Co. Can raised its position in shares of LGI Homes by 6.5% in the first quarter. Great West Life Assurance Co. Can now owns 24,404 shares of the financial services provider’s stock valued at $828,000 after buying an additional 1,493 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of LGI Homes during the first quarter valued at about $744,000. Institutional investors own 87.66% of the company’s stock.
Shares of LGI Homes, Inc. (NASDAQ:LGIH) traded up 0.93% during trading on Friday, hitting $45.72. The stock had a trading volume of 171,713 shares. The stock has a market capitalization of $988.24 million, a price-to-earnings ratio of 12.14 and a beta of 0.07. LGI Homes, Inc. has a one year low of $26.82 and a one year high of $49.95. The stock has a 50 day moving average price of $42.77 and a 200-day moving average price of $34.57.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.12. The business had revenue of $324.20 million for the quarter, compared to analyst estimates of $317.63 million. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. LGI Homes’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. On average, equities research analysts predict that LGI Homes, Inc. will post $4.20 earnings per share for the current year.
Several equities analysts have recently issued reports on LGIH shares. ValuEngine lowered LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research lowered LGI Homes from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Wells Fargo & Company raised LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price target on the stock in a research note on Tuesday, May 16th. 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. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $44.20.
In related news, CEO Eric Thomas Lipar sold 10,000 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $42.59, for a total transaction of $425,900.00. Following the sale, the chief executive officer now owns 524,175 shares in the company, valued at approximately $22,324,613.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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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