State Street Corp decreased its position in LGI Homes, Inc. (NASDAQ:LGIH) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 590,039 shares of the financial services provider’s stock after selling 12,334 shares during the period. State Street Corp owned about 2.73% of LGI Homes worth $23,708,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of LGI Homes by 3.9% in the second quarter. BlackRock Inc. now owns 2,493,251 shares of the financial services provider’s stock valued at $100,180,000 after acquiring an additional 92,633 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of LGI Homes by 4.3% in the second quarter. Frontier Capital Management Co. LLC now owns 1,837,651 shares of the financial services provider’s stock valued at $73,837,000 after acquiring an additional 75,115 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of LGI Homes by 3.4% in the second quarter. Vanguard Group Inc. now owns 878,551 shares of the financial services provider’s stock valued at $35,299,000 after acquiring an additional 29,296 shares in the last quarter. Heartland Advisors Inc. boosted its holdings in shares of LGI Homes by 3.7% in the second quarter. Heartland Advisors Inc. now owns 727,800 shares of the financial services provider’s stock valued at $29,243,000 after acquiring an additional 25,800 shares in the last quarter. Finally, FMR LLC purchased a new stake in shares of LGI Homes in the second quarter valued at about $21,233,000. 88.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of LGI Homes, Inc. (NASDAQ LGIH) opened at $65.16 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 8.91 and a debt-to-equity ratio of 1.04. LGI Homes, Inc. has a 52 week low of $26.82 and a 52 week high of $66.19. The company has a market cap of $1,419.05, a PE ratio of 15.11, a P/E/G ratio of 1.31 and a beta of 0.20.
LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.10. The firm had revenue of $365.90 million during the quarter, compared to analysts’ expectations of $355.81 million. LGI Homes had a net margin of 9.26% and a return on equity of 25.51%. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. research analysts forecast that LGI Homes, Inc. will post 4.54 EPS for the current fiscal year.
In other LGI Homes news, insider Michael Larry Snider sold 3,500 shares of LGI Homes stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $45.81, for a total transaction of $160,335.00. Following the completion of the transaction, the insider now owns 191,948 shares in the company, valued at $8,793,137.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bryan Christopher Sansbury sold 23,101 shares of LGI Homes stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $63.28, for a total transaction of $1,461,831.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,601 shares of company stock valued at $4,233,916. 13.60% of the stock is currently owned by company insiders.
Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of LGI Homes from a “buy” rating to a “hold” rating in a report on Tuesday. Wedbush reiterated a “neutral” rating and issued a $60.00 price objective (up previously from $55.00) on shares of LGI Homes in a research note on Wednesday, November 8th. JMP Securities raised their price objective on shares of LGI Homes from $62.00 to $68.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 8th. ValuEngine upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 30th. Finally, J P Morgan Chase & Co cut shares of LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research note on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $54.33.
LGI Homes Company 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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