Icon Advisers Inc. Co. Trims Stake in LGI Homes, Inc. (LGIH)
Icon Advisers Inc. Co. reduced its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 63.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,600 shares of the financial services provider’s stock after selling 18,400 shares during the period. Icon Advisers Inc. Co.’s holdings in LGI Homes were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of LGI Homes by 85.3% during the first quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 1,422 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of LGI Homes by 414.6% during the first quarter. LS Investment Advisors LLC now owns 3,103 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 2,500 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings 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 valued at $110,000 after acquiring an additional 402 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings 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 valued at $136,000 after acquiring an additional 1,533 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its holdings 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 valued at $135,000 after acquiring an additional 260 shares during the last quarter. Institutional investors own 93.37% of the company’s stock.
LGI Homes, Inc. (NASDAQ:LGIH) opened at 45.10 on Tuesday. The firm has a market capitalization of $974.84 million, a price-to-earnings ratio of 11.98 and a beta of 0.08. LGI Homes, Inc. has a 12 month low of $26.82 and a 12 month high of $49.95. The stock’s 50 day moving average price is $44.97 and its 200-day moving average price is $37.46.
LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.12. The company had revenue of $324.20 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 45.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 EPS. Equities analysts anticipate that LGI Homes, Inc. will post $4.30 EPS for the current fiscal year.
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Several brokerages recently commented on LGIH. Deutsche Bank AG upped their target price on LGI Homes from $40.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 10th. J P Morgan Chase & Co lowered LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research note on Wednesday, August 9th. Wedbush reissued an “outperform” rating on shares of LGI Homes in a research note on Saturday. Zacks Investment Research lowered LGI Homes from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, BidaskClub raised LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $47.00.
In other LGI Homes news, CEO Eric Thomas Lipar sold 10,000 shares of LGI Homes stock in a transaction on Monday, July 17th. The stock was sold at an average price of $42.59, for a total transaction of $425,900.00. Following the completion of the transaction, the chief executive officer now 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 link. Also, Director Bryan Christopher Sansbury sold 25,000 shares of LGI Homes 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 transaction, the director now owns 159,551 shares of the company’s stock, valued at approximately $7,387,211.30. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.
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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