California Public Employees Retirement System maintained its position in shares of LGI Homes Inc. (NASDAQ:LGIH) during the second quarter, Holdings Channel reports. The institutional investor owned 35,800 shares of the company’s stock at the end of the second quarter. California Public Employees Retirement System owned approximately 0.18% of LGI Homes worth $1,144,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of LGI Homes by 14.2% in the second quarter. Bank of New York Mellon Corp now owns 74,912 shares of the company’s stock valued at $2,392,000 after buying an additional 9,329 shares during the last quarter. Capital Growth Management LP increased its position in shares of LGI Homes by 17.6% in the first quarter. Capital Growth Management LP now owns 835,000 shares of the company’s stock worth $20,215,000 after buying an additional 125,000 shares in the last quarter. Mitra Capital LLC bought a new position in shares of LGI Homes during the first quarter worth approximately $2,032,000. Clark Capital Management Group Inc. increased its position in shares of 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 in the last quarter. Finally, Covalent Partners LLC increased its position in shares of LGI Homes by 8.8% in the first quarter. Covalent Partners LLC now owns 446,803 shares of the company’s stock worth $10,817,000 after buying an additional 35,992 shares in the last quarter. Institutional investors own 66.98% of the company’s stock.
Shares of LGI Homes Inc. (NASDAQ:LGIH) traded up 0.90% during midday trading on Friday, hitting $32.47. 271,079 shares of the stock traded hands. The stock has a 50-day moving average of $36.18 and a 200-day moving average of $31.51. LGI Homes Inc. has a 52-week low of $18.74 and a 52-week high of $40.47. The company has a market cap of $682.62 million, a price-to-earnings ratio of 10.73 and a beta of -0.01.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.09. The firm had revenue of $222.72 million for the quarter, compared to the consensus estimate of $219.52 million. LGI Homes had a net margin of 8.63% and a return on equity of 24.52%. The company’s revenue for the quarter was up 40.2% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. On average, equities analysts predict that LGI Homes Inc. will post $3.39 earnings per share for the current fiscal year.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research note on Thursday, September 1st. Wells Fargo & Co. assumed coverage on shares of LGI Homes in a research note on Wednesday, September 28th. They issued an “outperform” rating on the stock. Finally, JMP Securities restated a “buy” rating on shares of LGI Homes in a research note on Saturday, July 9th. Six equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $40.33.
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 shares were sold at an average price of $36.66, for a total transaction of $366,600.00. Following the transaction, the insider now directly owns 528,933 shares of the company’s stock, valued at $19,390,683.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.50% of the stock is currently owned by insiders.
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.
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