Icon Advisers Inc. Co. increased its position in LGI Homes Inc (NASDAQ:LGIH) by 100.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 28,200 shares of the financial services provider’s stock after purchasing an additional 14,100 shares during the period. Icon Advisers Inc. Co. owned about 0.12% of LGI Homes worth $2,014,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Campbell Newman Asset Management Inc. increased its holdings in shares of LGI Homes by 7.0% during the second quarter. Campbell Newman Asset Management Inc. now owns 8,582 shares of the financial services provider’s stock valued at $613,000 after acquiring an additional 565 shares in the last quarter. Carillon Tower Advisers Inc. lifted its stake in LGI Homes by 7.9% in the first quarter. Carillon Tower Advisers Inc. now owns 62,155 shares of the financial services provider’s stock worth $3,744,000 after acquiring an additional 4,575 shares during the period. Xact Kapitalforvaltning AB purchased a new stake in LGI Homes in the second quarter worth $233,000. Pier Capital LLC purchased a new stake in LGI Homes in the first quarter worth $4,979,000. Finally, Gagnon Securities LLC purchased a new stake in LGI Homes in the first quarter worth $287,000. 94.67% of the stock is owned by hedge funds and other institutional investors.
NASDAQ LGIH traded up $0.59 during trading hours on Friday, hitting $75.18. The company had a trading volume of 120,400 shares, compared to its average volume of 249,527. LGI Homes Inc has a fifty-two week low of $37.16 and a fifty-two week high of $77.50. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 11.84 and a beta of 0.56. The company has a debt-to-equity ratio of 0.92, a current ratio of 15.20 and a quick ratio of 1.34. The firm’s 50 day moving average is $72.54 and its 200 day moving average is $67.13.
A number of brokerages recently commented on LGIH. BTIG Research lowered LGI Homes from a “neutral” rating to a “sell” rating and set a $62.00 price target for the company. in a research note on Wednesday, August 7th. ValuEngine downgraded LGI Homes from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Wells Fargo & Co increased their price target on LGI Homes from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Wednesday, July 17th. Finally, BidaskClub upgraded LGI Homes from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. LGI Homes presently has an average rating of “Buy” and an average target price of $69.58.
In related news, Director Steven Randal Smith sold 2,500 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $74.49, for a total value of $186,225.00. Following the completion of the sale, the director now directly owns 12,407 shares in the company, valued at approximately $924,197.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.40% of the stock is currently owned by corporate insiders.
LGI Homes Profile
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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