First Trust Advisors LP Trims Position in LGI Homes Inc (LGIH)

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First Trust Advisors LP cut its position in shares of LGI Homes Inc (NASDAQ:LGIH) by 34.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,537 shares of the financial services provider’s stock after selling 16,546 shares during the quarter. First Trust Advisors LP owned 0.14% of LGI Homes worth $1,426,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in LGI Homes by 4.4% during the third quarter. BlackRock Inc. now owns 2,839,434 shares of the financial services provider’s stock worth $134,703,000 after purchasing an additional 119,807 shares during the last quarter. FMR LLC raised its holdings in LGI Homes by 52.0% during the third quarter. FMR LLC now owns 1,690,144 shares of the financial services provider’s stock worth $80,181,000 after purchasing an additional 577,909 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in LGI Homes by 17.6% during the third quarter. Epoch Investment Partners Inc. now owns 1,478,686 shares of the financial services provider’s stock worth $70,149,000 after purchasing an additional 221,250 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in LGI Homes by 14.6% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,425,195 shares of the financial services provider’s stock worth $64,447,000 after purchasing an additional 181,951 shares during the last quarter. Finally, Morgan Stanley raised its holdings in LGI Homes by 22.3% during the third quarter. Morgan Stanley now owns 227,658 shares of the financial services provider’s stock worth $10,801,000 after purchasing an additional 41,482 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

LGIH has been the subject of several recent research reports. ValuEngine raised LGI Homes from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. Wells Fargo & Co raised LGI Homes from a “market perform” rating to an “outperform” rating in a research report on Monday, January 7th. JMP Securities raised their price target on LGI Homes from $65.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Wednesday, February 27th. Zacks Investment Research raised LGI Homes from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Finally, BidaskClub downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.70.

LGI Homes stock opened at $58.19 on Friday. The company has a quick ratio of 1.61, a current ratio of 15.92 and a debt-to-equity ratio of 1.00. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 0.74 and a beta of 0.57. LGI Homes Inc has a fifty-two week low of $37.16 and a fifty-two week high of $81.88.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, February 26th. The financial services provider reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.03). The company had revenue of $425.20 million for the quarter, compared to analysts’ expectations of $429.46 million. LGI Homes had a return on equity of 26.36% and a net margin of 10.32%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 EPS. On average, research analysts anticipate that LGI Homes Inc will post 6.92 EPS for the current year.

In other news, CEO Eric Thomas Lipar sold 40,478 shares of LGI Homes stock in a transaction on Monday, March 18th. The stock was sold at an average price of $56.76, for a total value of $2,297,531.28. Following the completion of the sale, the chief executive officer now owns 591,685 shares of the company’s stock, valued at $33,584,040.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rachel Lyons Eaton sold 8,490 shares of LGI Homes stock in a transaction on Monday, March 18th. The shares were sold at an average price of $56.85, for a total value of $482,656.50. Following the completion of the sale, the insider now directly owns 39,967 shares of the company’s stock, valued at approximately $2,272,123.95. The disclosure for this sale can be found here. Insiders have sold 119,259 shares of company stock valued at $6,839,542 in the last three months. 13.60% of the stock is currently owned by company insiders.

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About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

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