Prudential Financial Inc. trimmed its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 35.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,450 shares of the financial services provider’s stock after selling 15,880 shares during the quarter. Prudential Financial Inc. owned about 0.13% of LGI Homes worth $1,143,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC grew its stake in LGI Homes by 4.3% during the second quarter. Frontier Capital Management Co. LLC now owns 1,837,651 shares of the financial services provider’s stock worth $73,837,000 after buying an additional 75,115 shares during the period. Vanguard Group Inc. grew its stake in LGI Homes by 5.7% during the first quarter. Vanguard Group Inc. now owns 849,255 shares of the financial services provider’s stock worth $28,798,000 after buying an additional 45,728 shares during the period. Bank of New York Mellon Corp grew its stake in LGI Homes by 34.0% during the second quarter. Bank of New York Mellon Corp now owns 274,296 shares of the financial services provider’s stock worth $11,021,000 after buying an additional 69,653 shares during the period. Redwood Investments LLC grew its stake in LGI Homes by 10.9% during the second quarter. Redwood Investments LLC now owns 266,888 shares of the financial services provider’s stock worth $10,724,000 after buying an additional 26,149 shares during the period. Finally, Pictet Asset Management Ltd. grew its stake in LGI Homes by 467.7% during the second quarter. Pictet Asset Management Ltd. now owns 215,227 shares of the financial services provider’s stock worth $6,973,000 after buying an additional 177,316 shares during the period. Hedge funds and other institutional investors own 93.37% of the company’s stock.

Shares of LGI Homes, Inc. (NASDAQ:LGIH) opened at 50.68 on Thursday. The firm has a market capitalization of $1.10 billion, a PE ratio of 13.46 and a beta of 0.12. LGI Homes, Inc. has a 12-month low of $26.82 and a 12-month high of $50.95. The company has a 50-day moving average of $45.29 and a 200 day moving average of $38.77.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 EPS for the quarter, beating the 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 company had revenue of $324.20 million for the quarter, compared to the consensus estimate of $317.63 million. During the same quarter last year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was up 45.6% compared to the same quarter last year. On average, analysts predict that LGI Homes, Inc. will post $4.29 EPS for the current year.

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In other news, CEO Eric Thomas Lipar sold 10,000 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $42.59, for a total value of $425,900.00. Following the sale, the chief executive officer now owns 524,175 shares in the company, valued at $22,324,613.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Larry Snider sold 3,500 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $45.81, for a total transaction of $160,335.00. Following the completion of the sale, the insider now owns 191,948 shares in the company, valued at approximately $8,793,137.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,500 shares of company stock worth $1,743,735. Corporate insiders own 13.60% of the company’s stock.

LGIH has been the subject of several research reports. ValuEngine downgraded shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Wedbush reiterated a “neutral” rating and set a $35.00 price objective on shares of LGI Homes in a research note on Tuesday, July 4th. Zacks Investment Research upgraded shares of LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, July 18th. BidaskClub upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Finally, J P Morgan Chase & Co downgraded shares of LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research note on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. LGI Homes presently has a consensus rating of “Buy” and an average price target of $47.00.

About LGI Homes

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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Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

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