State of New Jersey Common Pension Fund D continued to hold its position in LGI Homes, Inc. (NASDAQ:LGIH) during the second quarter, Holdings Channel reports. The fund owned 225,000 shares of the financial services provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in LGI Homes were worth $9,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in LGI Homes by 85.3% in the first quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,422 shares during the last quarter. LS Investment Advisors LLC raised its position in LGI Homes by 414.6% in the first quarter. LS Investment Advisors LLC now owns 3,103 shares of the financial services provider’s stock worth $105,000 after buying an additional 2,500 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in LGI Homes by 14.2% in the first quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock worth $110,000 after buying an additional 402 shares during the last quarter. State of Alaska Department of Revenue raised its position in LGI Homes by 82.4% in the second quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,533 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in LGI Homes by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock worth $135,000 after buying an additional 260 shares during the last quarter. 87.66% of the stock is currently owned by hedge funds and other institutional investors.

LGI Homes, Inc. (LGIH) opened at 45.30 on Friday. The stock has a market cap of $979.16 million, a PE ratio of 12.03 and a beta of 0.07. The company has a 50-day moving average price of $42.77 and a 200-day moving average price of $34.57. LGI Homes, Inc. has a 52 week low of $26.82 and a 52 week high of $49.95.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 23.65% and a net margin of 9.22%. The firm’s revenue was up 45.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. Analysts anticipate that LGI Homes, Inc. will post $4.17 earnings per share for the current year.

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A number of research analysts recently issued reports on the company. Deutsche Bank AG lifted their target price on LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday. J P Morgan Chase & Co lowered LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 target price on the stock. in a report on Wednesday. BidaskClub raised LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Wedbush reissued a “neutral” rating and issued a $35.00 price target on shares of LGI Homes in a research note on Tuesday, July 4th. Finally, Wells Fargo & Company raised LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price target on the stock in a research note on Tuesday, May 16th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. LGI Homes has a consensus rating of “Buy” and an average target price of $44.20.

In related news, CEO Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $42.59, for a total value of $425,900.00. Following the completion of the sale, the chief executive officer now owns 524,175 shares in the company, valued at $22,324,613.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.60% of the company’s stock.

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

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