LGI Homes Inc (LGIH) Position Lessened by ZPR Investment Management
ZPR Investment Management reduced its stake in shares of LGI Homes Inc (NASDAQ:LGIH) by 12.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,820 shares of the financial services provider’s stock after selling 8,400 shares during the period. LGI Homes accounts for about 3.7% of ZPR Investment Management’s holdings, making the stock its 7th biggest position. ZPR Investment Management owned about 0.28% of LGI Homes worth $2,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of LGIH. FMR LLC acquired a new position in shares of LGI Homes during the 2nd quarter worth approximately $21,233,000. Capital Growth Management LP acquired a new position in shares of LGI Homes during the 2nd quarter worth approximately $8,840,000. Pictet Asset Management Ltd. raised its position in shares of LGI Homes by 467.7% during the 2nd quarter. Pictet Asset Management Ltd. now owns 215,227 shares of the financial services provider’s stock worth $6,973,000 after purchasing an additional 177,316 shares during the last quarter. Kennedy Capital Management Inc. acquired a new position in shares of LGI Homes during the 2nd quarter worth approximately $6,402,000. Finally, BlackRock Inc. raised its position in shares of LGI Homes by 3.9% during the 2nd quarter. BlackRock Inc. now owns 2,493,251 shares of the financial services provider’s stock worth $100,180,000 after purchasing an additional 92,633 shares during the last quarter. Hedge funds and other institutional investors own 93.37% of the company’s stock.
In related news, Director Bryan Christopher Sansbury sold 25,000 shares of the company’s stock in a transaction that occurred 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 approximately $7,387,211.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $42.59, for a total transaction of $425,900.00. Following the completion of the sale, the chief executive officer now owns 524,175 shares of the company’s stock, valued at approximately $22,324,613.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,500 shares of company stock valued at $1,743,735. 13.60% of the stock is owned by insiders.
LGIH has been the subject of several research reports. ValuEngine downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Wedbush restated a “neutral” rating and set a $35.00 price objective on shares of LGI Homes in a research report on Tuesday, July 4th. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, July 18th. BidaskClub upgraded LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, J P Morgan Chase & Co downgraded LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research report on Wednesday, August 9th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $47.00.
Shares of LGI Homes Inc (NASDAQ:LGIH) traded up 1.364% on Monday, hitting $52.993. The company had a trading volume of 107,980 shares. LGI Homes Inc has a 12 month low of $26.82 and a 12 month high of $54.84. The company has a 50-day moving average of $45.61 and a 200 day moving average of $39.01. The stock has a market cap of $1.15 billion, a PE ratio of 14.071 and a beta of 0.11.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.12. The business had revenue of $324.20 million during the quarter, compared to the consensus estimate of $317.63 million. LGI Homes had a net margin of 9.93% and a return on equity of 33.13%. The firm’s quarterly revenue was up 45.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. Analysts anticipate that LGI Homes Inc will post $4.41 EPS for the current fiscal year.
LGI Homes 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.
Want to see what other hedge funds are holding LGIH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LGI Homes Inc (NASDAQ:LGIH).
Receive News & Stock Ratings for LGI Homes Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes Inc and related stocks with our FREE daily email newsletter.