Voss Capital LP Raises Holdings in LGI Homes, Inc. $LGIH

Voss Capital LP increased its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 33.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the financial services provider’s stock after buying an additional 75,000 shares during the period. LGI Homes comprises approximately 0.7% of Voss Capital LP’s investment portfolio, making the stock its 29th biggest holding. Voss Capital LP’s holdings in LGI Homes were worth $15,513,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LGIH. Caitong International Asset Management Co. Ltd boosted its position in LGI Homes by 75.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 237 shares in the last quarter. Caxton Associates LLP raised its position in shares of LGI Homes by 2.2% in the 3rd quarter. Caxton Associates LLP now owns 34,290 shares of the financial services provider’s stock worth $1,773,000 after acquiring an additional 749 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in shares of LGI Homes by 118.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 155,012 shares of the financial services provider’s stock worth $8,016,000 after purchasing an additional 84,079 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in shares of LGI Homes during the 3rd quarter worth $317,000. Finally, Polymer Capital Management HK LTD bought a new stake in LGI Homes during the third quarter valued at about $384,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citizens Jmp lifted their target price on LGI Homes from $85.00 to $95.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 7th. Weiss Ratings reissued a “sell (d)” rating on shares of LGI Homes in a research report on Monday, December 29th. Finally, Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research report on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, LGI Homes currently has an average rating of “Hold” and an average target price of $74.63.

Insider Buying and Selling at LGI Homes

In other LGI Homes news, COO Michael Larry Snider sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $252,240.00. Following the completion of the sale, the chief operating officer owned 175,556 shares of the company’s stock, valued at approximately $7,380,374.24. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles Michael Merdian sold 7,211 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $303,150.44. Following the sale, the chief financial officer owned 20,540 shares in the company, valued at $863,501.60. The trade was a 25.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 22,451 shares of company stock worth $943,840. 12.30% of the stock is owned by insiders.

LGI Homes Stock Performance

Shares of LGIH stock opened at $40.93 on Wednesday. LGI Homes, Inc. has a 12-month low of $39.70 and a 12-month high of $74.84. The business’s fifty day simple moving average is $51.65 and its 200-day simple moving average is $50.30. The company has a current ratio of 20.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. The company has a market cap of $946.71 million, a PE ratio of 13.08 and a beta of 1.88.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. LGI Homes had a return on equity of 4.08% and a net margin of 4.25%.The firm had revenue of $473.97 million during the quarter, compared to analysts’ expectations of $479.60 million. During the same quarter last year, the firm earned $2.15 EPS. The business’s quarterly revenue was down 15.0% on a year-over-year basis. Analysts expect that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

LGI Homes Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.