Gilder Gagnon Howe & Co. LLC boosted its position in LGI Homes Inc. (NASDAQ:LGIH) by 47.7% during the second quarter, Holdings Channel reports. The firm owned 1,968,944 shares of the company’s stock after buying an additional 636,102 shares during the period. LGI Homes accounts for 1.2% of Gilder Gagnon Howe & Co. LLC’s holdings, making the stock its 24th largest position. Gilder Gagnon Howe & Co. LLC owned 0.10% of LGI Homes worth $62,888,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Creative Planning increased its stake in 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 period. Nordea Investment Management AB purchased a new stake in LGI Homes during the second quarter worth $673,000. Albion Financial Group UT increased its stake in LGI Homes by 10.0% in the second quarter. Albion Financial Group UT now owns 21,181 shares of the company’s stock worth $677,000 after buying an additional 1,929 shares during the period. Clark Capital Management Group Inc. increased 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 worth $1,143,000 after buying an additional 25,388 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new stake in LGI Homes during the second quarter worth $1,177,000. 66.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of LGI Homes Inc. (NASDAQ:LGIH) traded up 1.10% on Wednesday, reaching $33.02. 72,333 shares of the company’s stock were exchanged. The company has a market cap of $694.18 million, a price-to-earnings ratio of 10.91 and a beta of -0.01. The firm’s 50-day moving average price is $35.96 and its 200 day moving average price is $31.74. LGI Homes Inc. has a 12 month low of $18.74 and a 12 month high of $40.47.
LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, August 9th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.09. The company had revenue of $222.72 million for the quarter, compared to analysts’ expectations of $219.52 million. LGI Homes had a net margin of 8.63% and a return on equity of 24.52%. LGI Homes’s quarterly revenue was up 40.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. Equities research analysts predict that LGI Homes Inc. will post $3.39 EPS for the current fiscal year.
LGIH has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of LGI Homes from a “sell” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Wednesday, October 5th. JMP Securities restated a “buy” rating on shares of LGI Homes in a research note on Saturday, July 9th. Finally, Wells Fargo & Co. initiated coverage on shares of LGI Homes in a research note on Wednesday, September 28th. They set an “outperform” rating for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. LGI Homes currently has an average rating of “Buy” and an average target price of $40.33.
In other news, insider Eric Thomas Lipar sold 10,000 shares of the company’s 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 sale, the insider now directly owns 528,933 shares of the company’s stock, valued at approximately $19,390,683.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.50% of the stock is currently owned by 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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