Montgomery Investment Management Inc. boosted its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,680 shares of the financial services provider’s stock after buying an additional 2,980 shares during the period. LGI Homes comprises about 1.4% of Montgomery Investment Management Inc.’s investment portfolio, making the stock its 21st largest position. Montgomery Investment Management Inc. owned 0.34% of LGI Homes worth $2,960,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of LGIH. Heartland Advisors Inc. purchased a new stake in LGI Homes during the first quarter valued at $23,805,000. Neumeier Poma Investment Counsel LLC increased its stake in LGI Homes by 30.6% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 787,550 shares of the financial services provider’s stock valued at $26,706,000 after buying an additional 184,750 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in LGI Homes by 467.7% in the second quarter. Pictet Asset Management Ltd. now owns 215,227 shares of the financial services provider’s stock valued at $6,973,000 after buying an additional 177,316 shares during the last quarter. Boston Advisors LLC increased its stake in LGI Homes by 352.5% in the first quarter. Boston Advisors LLC now owns 201,781 shares of the financial services provider’s stock valued at $6,842,000 after buying an additional 157,192 shares during the last quarter. Finally, Quantum Capital Management LLC NJ purchased a new stake in LGI Homes during the first quarter valued at $4,091,000. 87.66% of the stock is owned by institutional investors and hedge funds.
Shares of LGI Homes, Inc. (NASDAQ LGIH) opened at 48.48 on Wednesday. LGI Homes, Inc. has a 1-year low of $26.82 and a 1-year high of $49.95. The stock has a market capitalization of $1.05 billion, a P/E ratio of 14.55 and a beta of 0.07. The firm’s 50-day moving average price is $41.70 and its 200 day moving average price is $34.09.
LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.10. LGI Homes had a net margin of 8.95% and a return on equity of 22.09%. The firm had revenue of $324.20 million for the quarter, compared to analysts’ expectations of $317.63 million. During the same quarter last year, the company posted $0.96 earnings per share. LGI Homes’s revenue was up 45.6% on a year-over-year basis. Analysts expect that LGI Homes, Inc. will post $4.06 EPS for the current fiscal year.
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LGIH has been the subject of several research reports. Zacks Investment Research raised LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 target price for the company in a report on Tuesday, July 18th. ValuEngine downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Wells Fargo & Company raised LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 target price for the company in a report on Tuesday, May 16th. Wedbush reissued a “neutral” rating and issued a $35.00 target price on shares of LGI Homes in a report on Tuesday, July 4th. Finally, BidaskClub raised LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $39.00.
In other LGI Homes news, CEO Eric Thomas Lipar sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were 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 of the company’s stock, valued at $22,324,613.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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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