Covey Capital Advisors LLC maintained its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,230 shares of the financial services provider’s stock at the close of the 2nd quarter. Covey Capital Advisors LLC’s holdings in LGI Homes were worth $411,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Kennedy Capital Management Inc. acquired a new position in LGI Homes in the second quarter worth approximately $6,402,000. LSV Asset Management increased its holdings in LGI Homes by 40.8% in the second quarter. LSV Asset Management now owns 146,903 shares of the financial services provider’s stock worth $5,902,000 after buying an additional 42,600 shares during the last quarter. Campbell Newman Asset Management Inc. increased its holdings in LGI Homes by 4.8% in the second quarter. Campbell Newman Asset Management Inc. now owns 10,745 shares of the financial services provider’s stock worth $432,000 after buying an additional 495 shares during the last quarter. Swiss National Bank increased its holdings in LGI Homes by 18.5% in the second quarter. Swiss National Bank now owns 30,081 shares of the financial services provider’s stock worth $1,209,000 after buying an additional 4,700 shares during the last quarter. Finally, Heartland Advisors Inc. increased its holdings in LGI Homes by 3.7% in the second quarter. Heartland Advisors Inc. now owns 727,800 shares of the financial services provider’s stock worth $29,243,000 after buying an additional 25,800 shares during the last quarter. Institutional investors own 93.49% of the company’s stock.
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In related news, CEO Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $42.59, for a total value of $425,900.00. Following the transaction, the chief executive officer now directly owns 524,175 shares of the company’s stock, valued at approximately $22,324,613.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bryan Christopher Sansbury sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $46.30, for a total value of $1,157,500.00. Following the completion of the transaction, the director now directly owns 159,551 shares in the company, valued at $7,387,211.30. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.
Shares of LGI Homes, Inc. (NASDAQ LGIH) traded down 0.36% during trading on Friday, reaching $44.90. The company’s stock had a trading volume of 44,358 shares. LGI Homes, Inc. has a 12 month low of $26.82 and a 12 month high of $49.95. The firm has a market cap of $970.51 million, a PE ratio of 11.92 and a beta of 0.08. The company’s 50 day moving average price is $44.93 and its 200 day moving average price is $37.12.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.12. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The firm had revenue of $324.20 million for the quarter, compared to analysts’ expectations of $317.63 million. During the same period in the previous year, the firm posted $0.96 EPS. The business’s revenue for the quarter was up 45.6% compared to the same quarter last year. On average, equities analysts predict that LGI Homes, Inc. will post $4.30 earnings per share for the current year.
Several equities research analysts have recently weighed in on LGIH shares. Deutsche Bank AG increased their price objective on LGI Homes from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. ValuEngine lowered LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. BidaskClub lowered LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research lowered LGI Homes from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Wedbush restated a “neutral” rating and issued a $35.00 target price on shares of LGI Homes in a research note on Tuesday, July 4th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. LGI Homes has a consensus rating of “Buy” and a consensus target price of $47.00.
About LGI Homes
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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