The Manufacturers Life Insurance Company lessened its holdings in shares of LGI Homes Inc (NASDAQ:LGIH) by 13.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,106 shares of the financial services provider’s stock after selling 15,218 shares during the period. The Manufacturers Life Insurance Company owned 0.45% of LGI Homes worth $7,286,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in shares of LGI Homes during the 3rd quarter valued at $323,000. Bfsg LLC acquired a new stake in shares of LGI Homes in the 4th quarter valued at $329,000. Dimensional Fund Advisors LP lifted its position in LGI Homes by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 60,908 shares of the financial services provider’s stock worth $2,958,000 after acquiring an additional 1,179 shares during the last quarter. Scout Investments Inc. lifted its position in LGI Homes by 15.7% during the 3rd quarter. Scout Investments Inc. now owns 48,575 shares of the financial services provider’s stock worth $2,359,000 after acquiring an additional 6,600 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in LGI Homes by 6.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 85,807 shares of the financial services provider’s stock worth $4,168,000 after acquiring an additional 5,528 shares during the last quarter. 84.84% of the stock is currently owned by institutional investors.
LGI Homes Inc (LGIH) traded down $1.11 during mid-day trading on Wednesday, reaching $66.15. 569,565 shares of the company’s stock traded hands, compared to its average volume of 445,837. The company has a current ratio of 9.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97. LGI Homes Inc has a 52-week low of $28.57 and a 52-week high of $79.55. The company has a market cap of $1,460.00, a price-to-earnings ratio of 13.96, a P/E/G ratio of 0.96 and a beta of 0.31.
LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.03. LGI Homes had a net margin of 9.01% and a return on equity of 26.41%. The company had revenue of $405.00 million for the quarter, compared to analyst estimates of $377.46 million. During the same period in the previous year, the firm posted $1.01 EPS. The firm’s revenue was up 71.0% on a year-over-year basis. equities research analysts forecast that LGI Homes Inc will post 6.1 EPS for the current fiscal year.
Several research analysts have recently issued reports on LGIH shares. BidaskClub upgraded shares of LGI Homes from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Zacks Investment Research lowered shares of LGI Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Wedbush upgraded shares of LGI Homes from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $59.51 to $73.00 in a research report on Tuesday, February 13th. Finally, ValuEngine upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $61.50.
In related news, CEO Eric Thomas Lipar sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $72.03, for a total transaction of $1,800,750.00. Following the transaction, the chief executive officer now owns 491,233 shares in the company, valued at approximately $35,383,512.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ryan Edone purchased 1,400 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were acquired at an average price of $56.36 per share, with a total value of $78,904.00. Following the purchase, the director now directly owns 22,982 shares in the company, valued at approximately $1,295,265.52. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by insiders.
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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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