Allianz Asset Management GmbH lowered its stake in shares of LGI Homes Inc (NASDAQ:LGIH) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,369 shares of the financial services provider’s stock after selling 2,484 shares during the period. Allianz Asset Management GmbH’s holdings in LGI Homes were worth $8,131,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Ascend Capital LLC bought a new stake in shares of LGI Homes during the 4th quarter worth approximately $1,364,000. OppenheimerFunds Inc. raised its stake in shares of LGI Homes by 1,419.3% during the 4th quarter. OppenheimerFunds Inc. now owns 220,096 shares of the financial services provider’s stock worth $16,514,000 after purchasing an additional 205,609 shares in the last quarter. HAP Trading LLC bought a new stake in shares of LGI Homes during the 4th quarter worth approximately $1,586,000. UBS Asset Management Americas Inc. bought a new stake in shares of LGI Homes during the 4th quarter worth approximately $550,000. Finally, BlackRock Inc. raised its stake in shares of LGI Homes by 3.2% during the 4th quarter. BlackRock Inc. now owns 2,568,244 shares of the financial services provider’s stock worth $192,695,000 after purchasing an additional 80,724 shares in the last quarter. Institutional investors own 84.84% of the company’s stock.
In other LGI Homes news, Director Ryan Edone purchased 1,400 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were acquired at an average price of $56.36 per share, for a total transaction of $78,904.00. Following the purchase, the director now owns 22,982 shares in the company, valued at $1,295,265.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Thomas Lipar sold 25,000 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $72.03, for a total value of $1,800,750.00. Following the completion of the sale, the chief executive officer now owns 491,233 shares in the company, valued at approximately $35,383,512.99. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by corporate insiders.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. LGI Homes had a return on equity of 26.41% and a net margin of 9.01%. The business had revenue of $405.00 million for the quarter, compared to analysts’ expectations of $377.46 million. During the same quarter in the prior year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 71.0% on a year-over-year basis. equities analysts expect that LGI Homes Inc will post 6.1 earnings per share for the current year.
A number of brokerages have recently issued reports on LGIH. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “strong-buy” rating and set a $91.00 price objective on the stock in a research note on Thursday, January 4th. ValuEngine upgraded LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. BidaskClub cut LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 11th. Finally, Wedbush upgraded LGI Homes from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $59.51 to $73.00 in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $61.50.
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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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