Icon Advisers Inc. Co. cut its stake in LGI Homes Inc (NASDAQ:LGIH) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,100 shares of the financial services provider’s stock after selling 200 shares during the quarter. Icon Advisers Inc. Co. owned 0.06% of LGI Homes worth $638,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. South Texas Money Management Ltd. bought a new stake in LGI Homes during the fourth quarter valued at $274,000. First Mercantile Trust Co. boosted its stake in LGI Homes by 28.6% during the fourth quarter. First Mercantile Trust Co. now owns 3,407 shares of the financial services provider’s stock valued at $154,000 after buying an additional 757 shares during the period. Rhumbline Advisers boosted its stake in LGI Homes by 22.6% during the fourth quarter. Rhumbline Advisers now owns 51,866 shares of the financial services provider’s stock valued at $2,345,000 after buying an additional 9,551 shares during the period. Arizona State Retirement System boosted its stake in LGI Homes by 6.6% during the fourth quarter. Arizona State Retirement System now owns 28,687 shares of the financial services provider’s stock valued at $1,297,000 after buying an additional 1,765 shares during the period. Finally, Montgomery Investment Management Inc. boosted its stake in LGI Homes by 6.0% during the fourth quarter. Montgomery Investment Management Inc. now owns 93,940 shares of the financial services provider’s stock valued at $4,248,000 after buying an additional 5,300 shares during the period. 89.04% of the stock is owned by hedge funds and other institutional investors.
In other LGI Homes news, insider Michael Larry Snider sold 16,670 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $60.05, for a total transaction of $1,001,033.50. Following the sale, the insider now owns 200,876 shares in the company, valued at $12,062,603.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ryan Edone purchased 1,000 shares of the stock in a transaction on Tuesday, November 13th. The shares were purchased at an average price of $41.12 per share, for a total transaction of $41,120.00. Following the transaction, the director now directly owns 23,982 shares of the company’s stock, valued at $986,139.84. The disclosure for this purchase can be found here. Company insiders own 13.60% of the company’s stock.
LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.03. LGI Homes had a return on equity of 27.08% and a net margin of 9.99%. The business had revenue of $380.37 million for the quarter, compared to the consensus estimate of $378.96 million. During the same quarter last year, the business posted $1.40 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that LGI Homes Inc will post 6.25 EPS for the current fiscal year.
LGIH has been the subject of several research analyst reports. ValuEngine lowered LGI Homes from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. Wells Fargo & Co upgraded LGI Homes from a “market perform” rating to an “outperform” rating in a research report on Monday, January 7th. Zacks Investment Research upgraded LGI Homes from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. BidaskClub upgraded LGI Homes from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Finally, JMP Securities set a $60.00 price target on LGI Homes and gave the company a “buy” rating in a research report on Wednesday, November 7th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. LGI Homes currently has an average rating of “Buy” and a consensus target price of $56.70.
About LGI Homes
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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