State of Alaska Department of Revenue lifted its holdings in LGI Homes Inc (NASDAQ:LGIH) by 140.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,328 shares of the financial services provider’s stock after acquiring an additional 8,941 shares during the period. State of Alaska Department of Revenue owned approximately 0.07% of LGI Homes worth $1,277,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE increased its position in shares of LGI Homes by 1,332.6% in the second quarter. US Bancorp DE now owns 659 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 613 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of LGI Homes by 379.4% during the second quarter. Bank of Montreal Can now owns 2,114 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 1,673 shares during the period. Psagot Investment House Ltd. bought a new position in LGI Homes during the second quarter worth $186,000. NEXT Financial Group Inc bought a new position in LGI Homes during the second quarter worth $198,000. Finally, United Services Automobile Association bought a new position in LGI Homes during the second quarter worth $201,000. 94.62% of the stock is owned by institutional investors.
In related news, Director Bryan Christopher Sansbury sold 8,949 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.91, for a total transaction of $724,063.59. Following the completion of the sale, the director now directly owns 160,121 shares of the company’s stock, valued at approximately $12,955,390.11. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric Thomas Lipar sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $80.28, for a total value of $2,007,000.00. Following the sale, the chief executive officer now directly owns 528,058 shares of the company’s stock, valued at $42,392,496.24. The disclosure for this sale can be found here. 13.40% of the stock is currently owned by corporate insiders.
LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.20. LGI Homes had a return on equity of 21.68% and a net margin of 9.31%. The business had revenue of $461.83 million during the quarter, compared to analysts’ expectations of $465.08 million. During the same period in the prior year, the business earned $1.90 EPS. LGI Homes’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts predict that LGI Homes Inc will post 6.73 EPS for the current year.
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of LGI Homes from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $77.00 to $84.50 in a research report on Wednesday, September 11th. BidaskClub raised shares of LGI Homes from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Wells Fargo & Co boosted their price target on shares of LGI Homes from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Zacks Investment Research raised shares of LGI Homes from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Wednesday, July 17th. Finally, ValuEngine cut LGI Homes from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $83.30.
About LGI Homes
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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