Frontier Capital Management Co. LLC trimmed its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,695,652 shares of the financial services provider’s stock after selling 141,999 shares during the period. Frontier Capital Management Co. LLC owned approximately 7.84% of LGI Homes worth $82,358,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of LGIH. BlackRock Inc. boosted its stake in LGI Homes by 3.9% during the 2nd quarter. BlackRock Inc. now owns 2,493,251 shares of the financial services provider’s stock worth $100,180,000 after purchasing an additional 92,633 shares during the period. Bank of New York Mellon Corp boosted its stake in LGI Homes by 34.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,296 shares of the financial services provider’s stock worth $11,021,000 after purchasing an additional 69,653 shares during the period. Scout Investments Inc. acquired a new stake in LGI Homes during the 2nd quarter worth $1,687,000. Prudential Financial Inc. boosted its stake in LGI Homes by 56.5% during the 1st quarter. Prudential Financial Inc. now owns 44,330 shares of the financial services provider’s stock worth $1,503,000 after purchasing an additional 16,000 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in LGI Homes by 21.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 80,279 shares of the financial services provider’s stock worth $3,226,000 after purchasing an additional 14,002 shares during the period. 93.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LGI Homes, Inc. (LGIH) traded down $1.25 on Friday, hitting $60.11. 216,906 shares of the stock were exchanged, compared to its average volume of 257,782. The firm has a market cap of $1.30 billion, a PE ratio of 15.88, a P/E/G ratio of 1.23 and a beta of 0.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.91 and a current ratio of 11.06.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.12. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The firm had revenue of $324.20 million for the quarter, compared to analyst estimates of $317.63 million. During the same quarter in the previous year, the firm earned $0.96 EPS. The business’s quarterly revenue was up 45.6% on a year-over-year basis. sell-side analysts forecast that LGI Homes, Inc. will post 4.44 earnings per share for the current fiscal year.
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A number of brokerages recently weighed in on LGIH. Zacks Investment Research upgraded shares of LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 price target for the company in a research note on Tuesday, July 18th. BidaskClub upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. J P Morgan Chase & Co cut shares of LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 target price for the company. in a research note on Wednesday, August 9th. Wedbush cut shares of LGI Homes from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $49.00 in a research note on Tuesday, October 3rd. Finally, ValuEngine upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 30th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. LGI Homes has an average rating of “Buy” and a consensus price target of $49.40.
In related news, Director Bryan Christopher Sansbury sold 25,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $46.30, for a total value of $1,157,500.00. Following the completion of the sale, the director now directly owns 159,551 shares in the company, valued at approximately $7,387,211.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Larry Snider sold 3,500 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $45.81, for a total value of $160,335.00. Following the completion of the sale, the insider now owns 191,948 shares of the company’s stock, valued at $8,793,137.88. The disclosure for this sale can be found here. Insiders have sold a total of 53,500 shares of company stock valued at $2,674,585 over the last quarter. 13.60% of the stock is currently owned by corporate insiders.
LGI Homes Profile
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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