Jennison Associates LLC Boosts Holdings in LGI Homes, Inc. $LGIH

Jennison Associates LLC grew its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 58.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,957 shares of the financial services provider’s stock after acquiring an additional 10,695 shares during the quarter. Jennison Associates LLC owned 0.13% of LGI Homes worth $1,244,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Voss Capital LP raised its stake in shares of LGI Homes by 33.3% during the third quarter. Voss Capital LP now owns 300,000 shares of the financial services provider’s stock worth $15,513,000 after acquiring an additional 75,000 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of LGI Homes by 244.6% during the third quarter. JPMorgan Chase & Co. now owns 61,384 shares of the financial services provider’s stock worth $3,174,000 after acquiring an additional 43,572 shares in the last quarter. Tributary Capital Management LLC raised its stake in shares of LGI Homes by 93.1% during the third quarter. Tributary Capital Management LLC now owns 386,072 shares of the financial services provider’s stock worth $19,964,000 after acquiring an additional 186,159 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of LGI Homes by 1,158.0% during the fourth quarter. SG Americas Securities LLC now owns 91,471 shares of the financial services provider’s stock worth $3,930,000 after acquiring an additional 84,200 shares in the last quarter. Finally, Commons Capital LLC purchased a new position in shares of LGI Homes during the third quarter worth approximately $593,000. 84.89% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $48.53 on Monday. The company has a quick ratio of 0.70, a current ratio of 18.56 and a debt-to-equity ratio of 0.81. LGI Homes, Inc. has a 52 week low of $33.55 and a 52 week high of $69.50. The firm’s fifty day moving average is $43.10 and its 200 day moving average is $47.01. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 15.91 and a beta of 1.90.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.02 by $0.22. LGI Homes had a net margin of 4.22% and a return on equity of 3.80%. The company had revenue of $319.74 million for the quarter, compared to the consensus estimate of $328.22 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities research analysts expect that LGI Homes, Inc. will post 2.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on LGIH shares. Wall Street Zen raised shares of LGI Homes from a “strong sell” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. lifted their price target on shares of LGI Homes from $38.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research note on Wednesday, January 7th. Zacks Research raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Citizens Jmp lifted their target price on shares of LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.75.

Insider Buying and Selling

In other LGI Homes news, COO Michael Larry Snider sold 7,887 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $42.04, for a total transaction of $331,569.48. Following the transaction, the chief operating officer directly owned 30,517 shares of the company’s stock, valued at approximately $1,282,934.68. The trade was a 20.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles Michael Merdian sold 7,211 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $42.04, for a total transaction of $303,150.44. Following the transaction, the chief financial officer directly owned 20,540 shares in the company, valued at approximately $863,501.60. The trade was a 25.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,451 shares of company stock valued at $943,840 over the last three months. 12.60% of the stock is owned by company insiders.

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.