Philadelphia Financial Management of San Francisco LLC Acquires New Holdings in LGI Homes, Inc. $LGIH

Philadelphia Financial Management of San Francisco LLC bought a new position in LGI Homes, Inc. (NASDAQ:LGIH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 175,175 shares of the financial services provider’s stock, valued at approximately $11,155,144,000. LGI Homes makes up approximately 2.2% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 10th biggest position. Philadelphia Financial Management of San Francisco LLC owned approximately 0.75% of LGI Homes at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in LGI Homes by 75.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 237 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in LGI Homes during the 4th quarter worth $29,000. Russell Investments Group Ltd. increased its position in LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after buying an additional 305 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in LGI Homes in the fourth quarter valued at about $32,000. Finally, Rockefeller Capital Management L.P. raised its stake in LGI Homes by 1,759.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider’s stock valued at $38,000 after buying an additional 827 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Stock Down 1.4%

LGIH stock opened at $58.22 on Thursday. The company has a market capitalization of $1.35 billion, a P/E ratio of 20.43 and a beta of 1.83. The firm’s fifty day simple moving average is $58.99 and its 200-day simple moving average is $50.92. LGI Homes, Inc. has a 12 month low of $33.55 and a 12 month high of $69.50. The company has a debt-to-equity ratio of 0.74, a current ratio of 17.74 and a quick ratio of 0.61.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%.The company had revenue of $516.05 million for the quarter, compared to the consensus estimate of $489.23 million. During the same period last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings lowered shares of LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $72.75.

About LGI Homes

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.