Pier Capital LLC Sells 10,102 Shares of LGI Homes, Inc. (LGIH)
Pier Capital LLC cut its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,268 shares of the financial services provider’s stock after selling 10,102 shares during the quarter. LGI Homes comprises approximately 1.2% of Pier Capital LLC’s investment portfolio, making the stock its 13th biggest position. Pier Capital LLC owned about 0.78% of LGI Homes worth $6,761,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of LGIH. Teachers Advisors LLC increased its stake in shares of LGI Homes by 2.8% in the 4th quarter. Teachers Advisors LLC now owns 27,097 shares of the financial services provider’s stock worth $778,000 after acquiring an additional 746 shares during the last quarter. Creative Planning increased its stake in shares of LGI Homes by 36.8% in the 1st quarter. Creative Planning now owns 4,834 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 1,300 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of LGI Homes in the 1st quarter worth $234,000. Great West Life Assurance Co. Can increased its stake in shares of LGI Homes by 6.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 24,404 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 1,493 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of LGI Homes by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 204,643 shares of the financial services provider’s stock worth $6,940,000 after acquiring an additional 6,690 shares during the last quarter. 93.49% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $42.59, for a total value of $425,900.00. Following the sale, the chief executive officer now directly owns 524,175 shares in the company, valued at $22,324,613.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bryan Christopher Sansbury sold 25,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $46.30, for a total value of $1,157,500.00. Following the completion of the sale, the director now owns 159,551 shares in the company, valued at $7,387,211.30. The disclosure for this sale can be found here. 13.60% of the stock is owned by corporate insiders.
A number of analysts have issued reports on LGIH shares. Deutsche Bank AG raised their target price on LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. ValuEngine downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. BidaskClub downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research downgraded LGI Homes from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Wells Fargo & Company raised LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 target price for the company in a research note on Tuesday, May 16th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. LGI Homes presently has a consensus rating of “Buy” and a consensus target price of $47.00.
Shares of LGI Homes, Inc. (NASDAQ:LGIH) traded up 5.55% during mid-day trading on Monday, hitting $44.90. The company’s stock had a trading volume of 667,004 shares. The stock has a 50-day moving average of $44.63 and a 200-day moving average of $36.24. LGI Homes, Inc. has a 12-month low of $26.82 and a 12-month high of $49.95. The company has a market cap of $970.51 million, a PE ratio of 11.92 and a beta of 0.08.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.12. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The business had revenue of $324.20 million for the quarter, compared to the consensus estimate of $317.63 million. During the same period in the prior year, the business earned $0.96 earnings per share. The business’s revenue was up 45.6% on a year-over-year basis. On average, equities research analysts forecast that LGI Homes, Inc. will post $4.26 EPS for the current year.
LGI Homes Company Profile
LGI Homes, Inc is a homebuilder and land developer. 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 operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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