O Brien Greene & Co. Inc boosted its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,274 shares of the financial services provider’s stock after purchasing an additional 2,464 shares during the quarter. LGI Homes makes up 2.4% of O Brien Greene & Co. Inc’s holdings, making the stock its 11th largest position. O Brien Greene & Co. Inc’s holdings in LGI Homes were worth $6,162,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of LGIH. Strs Ohio purchased a new position in shares of LGI Homes in the first quarter valued at approximately $29,000. Vantage Consulting Group Inc purchased a new position in shares of LGI Homes in the fourth quarter valued at approximately $33,000. First Horizon Advisors Inc. purchased a new position in shares of LGI Homes in the first quarter valued at approximately $36,000. Acadian Asset Management LLC purchased a new position in shares of LGI Homes in the first quarter valued at approximately $63,000. Finally, Veriti Management LLC purchased a new position in shares of LGI Homes in the fourth quarter valued at approximately $77,000. Institutional investors own 82.83% of the company’s stock.
In related news, CMO Rachel Lyons Eaton sold 378 shares of the business’s stock in a transaction on Tuesday, May 11th. The stock was sold at an average price of $173.27, for a total transaction of $65,496.06. Following the completion of the transaction, the chief marketing officer now directly owns 39,409 shares of the company’s stock, valued at approximately $6,828,397.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Thomas Lipar sold 27,011 shares of the business’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $138.58, for a total value of $3,743,184.38. Following the transaction, the chief executive officer now directly owns 570,427 shares of the company’s stock, valued at $79,049,773.66. The disclosure for this sale can be found here. Insiders sold 56,620 shares of company stock valued at $7,898,991 over the last ninety days. Insiders own 11.80% of the company’s stock.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, May 4th. The financial services provider reported $3.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.37 by $1.58. LGI Homes had a return on equity of 32.58% and a net margin of 14.54%. The business had revenue of $705.90 million during the quarter, compared to analysts’ expectations of $543.93 million. During the same period in the previous year, the firm posted $1.67 earnings per share. The company’s revenue was up 55.2% on a year-over-year basis. Equities research analysts forecast that LGI Homes, Inc. will post 15.03 earnings per share for the current fiscal year.
A number of equities analysts recently commented on LGIH shares. Wolfe Research started coverage on LGI Homes in a research report on Tuesday, March 16th. They set a “market perform” rating on the stock. KeyCorp started coverage on LGI Homes in a research report on Monday, February 22nd. They set a “sector weight” rating on the stock. Wells Fargo & Company lifted their price objective on LGI Homes from $150.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, May 6th. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Thursday, February 25th. Finally, Wedbush lifted their price objective on LGI Homes from $135.00 to $155.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. LGI Homes presently has a consensus rating of “Hold” and a consensus price target of $144.83.
About LGI Homes
LGI Homes, Inc designs, constructs, and sells homes in the United States. It offers entry-level homes, such as detached and attached homes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. As of December 31, 2020, it owned 113 communities. The company serves in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada, West Virginia, Virginia, and Pennsylvania.
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