Gilder Gagnon Howe & Co. LLC Trims Stake in LGI Homes, Inc. (LGIH)
Gilder Gagnon Howe & Co. LLC lessened its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 12.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,787,544 shares of the financial services provider’s stock after selling 256,255 shares during the period. LGI Homes comprises approximately 1.2% of Gilder Gagnon Howe & Co. LLC’s portfolio, making the stock its 22nd biggest position. Gilder Gagnon Howe & Co. LLC owned about 8.27% of LGI Homes worth $86,821,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue boosted its position in shares of 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 period. Victory Capital Management Inc. boosted its position in shares of LGI Homes by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,633 shares of the financial services provider’s stock worth $146,000 after buying an additional 543 shares during the period. LS Investment Advisors LLC boosted its position in shares of LGI Homes by 37.3% in the third quarter. LS Investment Advisors LLC now owns 4,214 shares of the financial services provider’s stock worth $205,000 after buying an additional 1,145 shares during the period. Morse Asset Management Inc acquired a new stake in shares of LGI Homes in the third quarter worth $238,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of LGI Homes by 56.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,069 shares of the financial services provider’s stock worth $204,000 after buying an additional 1,831 shares during the period. 88.22% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. JMP Securities lifted their price objective on LGI Homes from $62.00 to $68.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 8th. Wedbush reissued a “neutral” rating and set a $60.00 price objective (up previously from $55.00) on shares of LGI Homes in a research report on Wednesday, November 8th. Zacks Investment Research raised LGI Homes from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective for the company in a research report on Wednesday, October 11th. ValuEngine raised LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th. Finally, BidaskClub cut LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 25th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $54.33.
In other news, insider Michael Larry Snider sold 3,500 shares of LGI Homes stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $45.81, for a total value of $160,335.00. Following the transaction, the insider now directly owns 191,948 shares in the company, valued at $8,793,137.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Thomas Lipar sold 25,000 shares of LGI Homes stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $54.27, for a total value of $1,356,750.00. Following the completion of the transaction, the chief executive officer now owns 504,593 shares in the company, valued at $27,384,262.11. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.
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LGI Homes, Inc. (NASDAQ:LGIH) traded down $0.54 during midday trading on Monday, reaching $63.15. The company’s stock had a trading volume of 279,700 shares, compared to its average volume of 381,402. LGI Homes, Inc. has a one year low of $26.82 and a one year high of $66.13. The company has a current ratio of 8.91, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $1,410.00, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.27 and a beta of 0.20.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.10. The business had revenue of $365.90 million for the quarter, compared to analyst estimates of $355.81 million. LGI Homes had a return on equity of 25.51% and a net margin of 9.26%. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. analysts forecast that LGI Homes, Inc. will post 4.54 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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