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.
Several other institutional investors and hedge funds have also added to or reduced their stakes in LGIH. Jane Street Group LLC purchased a new position in LGI Homes during the 3rd quarter worth approximately $323,000. Bfsg LLC acquired a new stake in shares of LGI Homes during the 4th quarter valued at $329,000. Dimensional Fund Advisors LP lifted its stake in shares of LGI Homes by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 60,908 shares of the financial services provider’s stock valued at $2,958,000 after purchasing an additional 1,179 shares during the last quarter. Scout Investments Inc. lifted its stake in shares of LGI Homes by 15.7% in the 3rd quarter. Scout Investments Inc. now owns 48,575 shares of the financial services provider’s stock valued at $2,359,000 after purchasing an additional 6,600 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of LGI Homes by 6.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 85,807 shares of the financial services provider’s stock valued at $4,168,000 after purchasing an additional 5,528 shares during the last quarter. 84.84% of the stock is currently owned by institutional investors.
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 owned by company insiders.
LGI Homes Inc (NASDAQ:LGIH) traded down $1.11 during midday trading on Wednesday, hitting $66.15. 569,565 shares of the stock were exchanged, compared to its average volume of 445,837. LGI Homes Inc has a one year low of $28.57 and a one year high of $79.55. The firm has a market cap of $1,460.00, a PE ratio of 13.96, a PEG ratio of 0.96 and a beta of 0.31. 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 (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.03. The business had revenue of $405.00 million for the quarter, compared to analyst estimates of $377.46 million. LGI Homes had a net margin of 9.01% and a return on equity of 26.41%. LGI Homes’s revenue for the quarter was up 71.0% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. equities analysts anticipate that LGI Homes Inc will post 6.1 EPS for the current fiscal year.
A number of research analysts have weighed in on LGIH shares. Zacks Investment Research lowered shares of LGI Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. ValuEngine raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. BidaskClub lowered shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 11th. Finally, 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. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $61.50.
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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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