Swiss National Bank Maintains Stake in LGI Homes Inc. (LGIH)
Swiss National Bank continued to hold its position in shares of LGI Homes Inc. (NASDAQ:LGIH) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 25,381 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned approximately 0.12% of LGI Homes worth $811,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC increased its position in shares of LGI Homes by 47.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,968,944 shares of the company’s stock worth $62,888,000 after buying an additional 636,102 shares during the period. Frontier Capital Management Co. LLC increased its position in shares of LGI Homes by 38.6% in the second quarter. Frontier Capital Management Co. LLC now owns 1,430,993 shares of the company’s stock worth $45,706,000 after buying an additional 398,584 shares during the period. 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 during the period. 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 during the period. Finally, State of New Jersey Common Pension Fund D increased its position in shares of LGI Homes by 8.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 258,760 shares of the company’s stock worth $8,265,000 after buying an additional 20,000 shares during the period. Hedge funds and other institutional investors own 66.98% of the company’s stock.
Shares of LGI Homes Inc. (NASDAQ:LGIH) traded down 4.02% during mid-day trading on Friday, hitting $33.66. 728,774 shares of the stock were exchanged. The company has a market cap of $707.63 million, a P/E ratio of 11.12 and a beta of -0.01. LGI Homes Inc. has a 52-week low of $18.74 and a 52-week high of $40.47. The stock’s 50-day moving average price is $36.44 and its 200-day moving average price is $31.23.
LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, August 9th. The company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.09. LGI Homes had a net margin of 8.63% and a return on equity of 24.52%. The company had revenue of $222.72 million for the quarter, compared to analysts’ expectations of $219.52 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. LGI Homes’s revenue for the quarter was up 40.2% compared to the same quarter last year. Equities research analysts anticipate that LGI Homes Inc. will post $3.39 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on LGIH shares. Wells Fargo & Co. started coverage on shares of LGI Homes in a research report on Wednesday, September 28th. They set an “outperform” rating on the stock. Zacks Investment Research raised shares of LGI Homes from a “sell” rating to a “buy” rating and set a $39.00 target price for the company in a report on Wednesday. Finally, JMP Securities reaffirmed a “buy” rating on shares of LGI Homes in a report on Saturday, July 9th. Six analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $40.33.
In other LGI Homes 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 transaction, the insider now owns 528,933 shares of the company’s stock, valued at $19,390,683.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 17.50% of the stock is currently owned by company 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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