Emerald Acquisition Ltd. bought a new stake in shares of LGI Homes Inc. (NASDAQ:LGIH) during the second quarter, Holdings Channel reports. The institutional investor bought 76,571 shares of the company’s stock, valued at approximately $2,445,000. Emerald Acquisition Ltd. owned approximately 0.37% of LGI Homes at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the stock. Creative Planning increased its stake in shares of LGI Homes by 76.8% in the second quarter. Creative Planning now owns 5,480 shares of the company’s stock valued at $175,000 after buying an additional 2,380 shares in the last quarter. Suntrust Banks Inc. purchased a new stake in shares of LGI Homes during the second quarter valued at approximately $252,000. Cornerstone Financial Partners LLC purchased a new stake in shares of LGI Homes during the first quarter valued at approximately $463,000. Nordea Investment Management AB purchased a new stake in shares of LGI Homes during the second quarter valued at approximately $673,000. Finally, Albion Financial Group UT increased its stake in shares of LGI Homes by 10.0% in the second quarter. Albion Financial Group UT now owns 21,181 shares of the company’s stock valued at $677,000 after buying an additional 1,929 shares in the last quarter. Institutional investors own 66.98% of the company’s stock.
LGI Homes Inc. (NASDAQ:LGIH) traded up 1.118% during trading on Wednesday, reaching $36.625. 147,919 shares of the company traded hands. The firm has a market capitalization of $769.97 million, a price-to-earnings ratio of 12.099 and a beta of -0.03. LGI Homes Inc. has a 52 week low of $18.74 and a 52 week high of $40.47. The company’s 50-day moving average price is $36.12 and its 200 day moving average price is $30.60.
LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, August 9th. The company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.09. LGI Homes had a net margin of 8.63% and a return on equity of 24.52%. The firm had revenue of $222.72 million for the quarter, compared to analysts’ expectations of $219.52 million. During the same quarter in the previous year, the business posted $0.66 EPS. The company’s quarterly revenue was up 40.2% on a year-over-year basis. On average, equities research analysts expect that LGI Homes Inc. will post $3.40 EPS for the current year.
Several analysts have recently commented on the stock. JMP Securities reiterated a “buy” rating on shares of LGI Homes in a report on Saturday, July 9th. Zacks Investment Research lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $36.33.
In other news, insider Eric Thomas Lipar sold 10,000 shares of the business’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $36.66, for a total transaction of $366,600.00. Following the sale, the insider now owns 528,933 shares in the company, valued at approximately $19,390,683.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 17.50% of the company’s stock.
About LGI Homes
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.
Want to see what other hedge funds are holding LGIH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LGI Homes Inc. (NASDAQ:LGIH).
Receive News & Ratings for LGI Homes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes Inc. and related companies with MarketBeat.com's FREE daily email newsletter.