LGI Homes, Inc. (LGIH) Position Lifted by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA lifted its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 56.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,069 shares of the financial services provider’s stock after acquiring an additional 1,831 shares during the period. BNP Paribas Arbitrage SA’s holdings in LGI Homes were worth $204,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in LGI Homes by 85.3% in the 1st 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 period. LS Investment Advisors LLC increased its position in LGI Homes by 414.6% in the 1st 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 period. State of Alaska Department of Revenue increased its position in LGI Homes by 82.4% in the 2nd 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 period. Mason Street Advisors LLC increased its position in LGI Homes by 7.0% in the 1st 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 period. Finally, Invictus RG bought a new position in LGI Homes in the 1st quarter worth approximately $193,000. 93.37% of the stock is currently owned by institutional investors and hedge funds.
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In other news, Director Bryan Christopher Sansbury sold 25,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $46.30, for a total transaction of $1,157,500.00. Following the transaction, the director now owns 159,551 shares in the company, valued at $7,387,211.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Thomas Lipar sold 10,000 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $42.59, for a total value of $425,900.00. Following the transaction, the chief executive officer now owns 524,175 shares in the company, valued at approximately $22,324,613.25. 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. 13.60% of the stock is owned by corporate insiders.
Several brokerages have commented on LGIH. Zacks Investment Research raised LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, July 18th. J P Morgan Chase & Co lowered LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a report on Wednesday, August 9th. ValuEngine lowered LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. BidaskClub lowered LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Friday, August 25th. Finally, Wedbush reissued an “outperform” rating on shares of LGI Homes in a report on Saturday, September 16th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $47.00.
Shares of LGI Homes, Inc. (NASDAQ LGIH) opened at 45.31 on Monday. The stock’s 50 day moving average price is $45.04 and its 200 day moving average price is $37.58. The firm has a market cap of $979.38 million, a price-to-earnings ratio of 12.03 and a beta of 0.08. LGI Homes, Inc. has a one year low of $26.82 and a one year high of $49.95.
LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.12. The company had revenue of $324.20 million for the quarter, compared to analyst estimates of $317.63 million. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The firm’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 earnings per share. On average, equities analysts anticipate that LGI Homes, Inc. will post $4.29 earnings per share 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.
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