Cullen Frost Bankers Inc. acquired a new position in LGI Homes Inc. (NASDAQ:LGIH) during the second quarter, Holdings Channel reports. The firm acquired 36,845 shares of the company’s stock, valued at approximately $1,177,000.
A number of other hedge funds have also added to or reduced their stakes in the company. Mitra Capital LLC acquired a new stake in LGI Homes during the first quarter worth $2,032,000. Clark Capital Management Group Inc. raised its stake in LGI Homes by 116.2% in the first quarter. Clark Capital Management Group Inc. now owns 47,228 shares of the company’s stock valued at $1,143,000 after buying an additional 25,388 shares during the last quarter. Capital Growth Management LP raised its stake in LGI Homes by 17.6% in the first quarter. Capital Growth Management LP now owns 835,000 shares of the company’s stock valued at $20,215,000 after buying an additional 125,000 shares during the last quarter. Icon Advisers Inc. Co. purchased a new stake in LGI Homes during the first quarter valued at approximately $1,133,000. Finally, Cornerstone Financial Partners LLC purchased a new stake in LGI Homes during the first quarter valued at approximately $463,000. 66.98% of the stock is owned by institutional investors.
LGI Homes Inc. (NASDAQ:LGIH) traded up 1.41% during trading on Wednesday, hitting $36.73. 187,827 shares of the stock traded hands. LGI Homes Inc. has a 12 month low of $18.74 and a 12 month high of $40.47. The company’s 50 day moving average price is $36.19 and its 200 day moving average price is $30.64. The company has a market cap of $772.17 million, a P/E ratio of 12.13 and a beta of -0.03.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The firm earned $222.72 million during the quarter, compared to the consensus estimate of $219.52 million. LGI Homes had a return on equity of 24.52% and a net margin of 8.63%. The company’s quarterly revenue was up 40.2% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. On average, equities research analysts anticipate that LGI Homes Inc. will post $3.40 EPS for the current fiscal year.
Several analysts have commented on LGIH shares. Wells Fargo & Co. started coverage on shares of LGI Homes in a research report on Wednesday. They set an “outperform” rating for the company. Zacks Investment Research raised shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Thursday, September 15th. Finally, JMP Securities reissued a “buy” rating on shares of LGI Homes in a research report on Saturday, July 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. LGI Homes currently has a consensus rating of “Buy” and an average price target of $36.33.
In other LGI Homes news, insider Eric Thomas Lipar sold 10,000 shares of LGI Homes stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $36.66, for a total value of $366,600.00. Following the completion of the transaction, the insider now directly owns 528,933 shares of the company’s stock, valued at approximately $19,390,683.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 17.50% of the stock is owned by company insiders.
LGI Homes Company Profile
LGI Homes, Inc is a homebuilder. 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 has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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