First Trust Advisors LP lowered its position in LGI Homes Inc. (NASDAQ:LGIH) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,570 shares of the company’s stock after selling 485 shares during the period. First Trust Advisors LP owned approximately 0.06% of LGI Homes worth $370,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning raised its position in shares of LGI Homes by 76.8% in the second quarter. Creative Planning now owns 5,480 shares of the company’s stock worth $175,000 after buying an additional 2,380 shares during the last quarter. Suntrust Banks Inc. purchased a new stake in LGI Homes during the second quarter valued at about $252,000. Commonwealth Equity Services Inc purchased a new stake in LGI Homes during the second quarter valued at about $429,000. GSA Capital Partners LLP raised its stake in LGI Homes by 11.3% in the second quarter. GSA Capital Partners LLP now owns 17,100 shares of the company’s stock valued at $546,000 after buying an additional 1,743 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new stake in LGI Homes during the second quarter valued at about $673,000. Hedge funds and other institutional investors own 66.98% of the company’s stock.
Shares of LGI Homes Inc. (NASDAQ:LGIH) traded up 2.73% during trading on Friday, reaching $33.06. 69,953 shares of the company traded hands. The firm’s 50-day moving average is $36.27 and its 200-day moving average is $31.45. LGI Homes Inc. has a 12-month low of $18.74 and a 12-month high of $40.47. The stock has a market capitalization of $695.02 million, a PE ratio of 10.92 and a beta of -0.01.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.96 EPS for the quarter, topping the Thomson Reuters’ 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 business earned $222.72 million during the quarter, compared to analyst estimates of $219.52 million. During the same period in the prior year, the business earned $0.66 EPS. The company’s revenue for the quarter was up 40.2% on a year-over-year basis. On average, equities analysts predict that LGI Homes Inc. will post $3.39 earnings per share for the current fiscal year.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Thursday, September 1st. JMP Securities reiterated a “buy” rating on shares of LGI Homes in a research report on Saturday, July 9th. Finally, Wells Fargo & Co. assumed coverage on shares of LGI Homes in a research report on Wednesday, September 28th. They set an “outperform” rating on the stock. Six analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $40.33.
In related news, insider Eric Thomas Lipar sold 10,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were 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 in the company, valued at approximately $19,390,683.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.50% of the stock is currently owned by corporate 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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