Gagnon Securities LLC purchased a new position in shares of LGI Homes Inc (NASDAQ:LGIH) during the 1st quarter, HoldingsChannel reports. The fund purchased 4,769 shares of the financial services provider’s stock, valued at approximately $287,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new position in shares of LGI Homes in the fourth quarter valued at $38,684,000. FMR LLC increased its holdings in shares of LGI Homes by 40.3% in the fourth quarter. FMR LLC now owns 2,371,309 shares of the financial services provider’s stock valued at $107,231,000 after purchasing an additional 681,165 shares during the last quarter. Royce & Associates LP acquired a new position in shares of LGI Homes in the fourth quarter valued at $11,002,000. Prescott Group Capital Management L.L.C. increased its holdings in shares of LGI Homes by 1,235.8% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 240,442 shares of the financial services provider’s stock valued at $10,873,000 after purchasing an additional 222,442 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of LGI Homes in the fourth quarter valued at $9,605,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Rachel Lyons Eaton sold 8,490 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $56.85, for a total transaction of $482,656.50. Following the completion of the sale, the insider now owns 39,967 shares of the company’s stock, valued at $2,272,123.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $70.91, for a total transaction of $709,100.00. Following the sale, the chief executive officer now directly owns 544,509 shares of the company’s stock, valued at approximately $38,611,133.19. The disclosure for this sale can be found here. Insiders sold 133,611 shares of company stock worth $7,928,312 over the last 90 days. 13.40% of the stock is currently owned by corporate insiders.
LGIH stock opened at $73.02 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.35 and a current ratio of 16.86. LGI Homes Inc has a 52 week low of $37.16 and a 52 week high of $75.49. The stock has a market capitalization of $1.71 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.01 and a beta of 0.61.
LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.13). LGI Homes had a net margin of 9.67% and a return on equity of 23.28%. The business had revenue of $287.60 million during the quarter, compared to analyst estimates of $288.06 million. During the same quarter last year, the company posted $1.10 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. On average, analysts predict that LGI Homes Inc will post 6.71 EPS for the current year.
Several equities analysts have commented on the stock. ValuEngine upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Zacks Investment Research downgraded shares of LGI Homes from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Wells Fargo & Co upped their price objective on shares of LGI Homes from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, February 27th. JMP Securities upped their price target on shares of LGI Homes from $65.00 to $68.00 and gave the company a “market outperform” rating in a research note on Wednesday, February 27th. Finally, BidaskClub upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $69.90.
About LGI Homes
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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