Voss Capital LP Buys 75,000 Shares of LGI Homes, Inc. $LGIH

Voss Capital LP boosted its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 33.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 300,000 shares of the financial services provider’s stock after buying an additional 75,000 shares during the quarter. LGI Homes accounts for approximately 0.7% of Voss Capital LP’s investment portfolio, making the stock its 29th largest position. Voss Capital LP owned 1.30% of LGI Homes worth $15,513,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LGIH. Royal Bank of Canada lifted its holdings in shares of LGI Homes by 58.7% in the 1st quarter. Royal Bank of Canada now owns 4,721 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 1,746 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in LGI Homes by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,502 shares of the financial services provider’s stock valued at $831,000 after purchasing an additional 621 shares during the last quarter. Goldman Sachs Group Inc. raised its position in LGI Homes by 5.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock worth $16,627,000 after purchasing an additional 12,524 shares during the period. Bank of New York Mellon Corp raised its position in LGI Homes by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 148,598 shares of the financial services provider’s stock worth $7,656,000 after purchasing an additional 4,096 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in LGI Homes by 205.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,682 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 6,515 shares during the last quarter. Institutional investors own 84.89% of the company’s stock.

Insiders Place Their Bets

In related news, COO Michael Larry Snider sold 6,000 shares of LGI Homes stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $42.04, for a total value of $252,240.00. Following the completion of the sale, the chief operating officer directly owned 175,556 shares in the company, valued at $7,380,374.24. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Scott James Garber sold 1,353 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $42.04, for a total transaction of $56,880.12. Following the completion of the sale, the general counsel directly owned 21,716 shares of the company’s stock, valued at approximately $912,940.64. This trade represents a 5.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 22,451 shares of company stock worth $943,840. 12.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LGIH. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research note on Wednesday, January 7th. Citizens Jmp raised their price target on LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of LGI Homes in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $74.63.

LGI Homes Price Performance

Shares of LGIH stock opened at $40.93 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 20.98 and a quick ratio of 0.76. The company has a market capitalization of $946.71 million, a P/E ratio of 13.08 and a beta of 1.88. The company’s 50-day simple moving average is $51.65 and its two-hundred day simple moving average is $50.30. LGI Homes, Inc. has a one year low of $39.70 and a one year high of $74.84.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, February 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $473.97 million during the quarter, compared to the consensus estimate of $479.60 million. LGI Homes had a net margin of 4.25% and a return on equity of 4.08%. The company’s revenue was down 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.15 earnings per share. As a group, equities analysts anticipate that LGI Homes, Inc. will post 8.46 EPS for the current year.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.