Crown Advisors Management Inc. lowered its position in shares of LGI Homes Inc (NASDAQ:LGIH) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,000 shares of the financial services provider’s stock after selling 15,000 shares during the quarter. LGI Homes makes up about 2.8% of Crown Advisors Management Inc.’s investment portfolio, making the stock its 16th largest position. Crown Advisors Management Inc.’s holdings in LGI Homes were worth $2,713,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. First Mercantile Trust Co. acquired a new stake in shares of LGI Homes during the third quarter worth $126,000. Atria Investments LLC acquired a new stake in shares of LGI Homes during the third quarter worth $214,000. Brookstone Capital Management grew its stake in shares of LGI Homes by 40.3% during the third quarter. Brookstone Capital Management now owns 5,080 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 1,458 shares during the period. South Texas Money Management Ltd. acquired a new stake in shares of LGI Homes during the fourth quarter worth $274,000. Finally, State of Alaska Department of Revenue grew its stake in shares of LGI Homes by 4.5% during the fourth quarter. State of Alaska Department of Revenue now owns 6,233 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 270 shares during the period. Institutional investors own 89.72% of the company’s stock.
In other LGI Homes news, insider Michael Larry Snider sold 16,670 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $60.05, for a total value of $1,001,033.50. Following the completion of the transaction, the insider now directly owns 200,876 shares of the company’s stock, valued at $12,062,603.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.60% of the stock is currently owned by insiders.
LGIH has been the subject of a number of analyst reports. Wells Fargo & Co decreased their price objective on LGI Homes from $63.00 to $44.00 and set an “average” rating for the company in a research note on Wednesday, November 7th. BidaskClub raised LGI Homes from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. JMP Securities set a $60.00 price objective on LGI Homes and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Zacks Investment Research raised LGI Homes from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. Finally, ValuEngine raised LGI Homes from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $56.70.
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LGI Homes Profile
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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