Brookstone Capital Management increased its stake in LGI Homes Inc (NASDAQ:LGIH) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,356 shares of the financial services provider’s stock after buying an additional 332 shares during the quarter. Brookstone Capital Management’s holdings in LGI Homes were worth $613,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of LGI Homes by 6.6% during the second quarter. BlackRock Inc. now owns 3,082,158 shares of the financial services provider’s stock valued at $220,160,000 after buying an additional 191,656 shares during the period. Wasatch Advisors Inc. boosted its holdings in LGI Homes by 14.6% in the second quarter. Wasatch Advisors Inc. now owns 1,512,176 shares of the financial services provider’s stock worth $108,015,000 after acquiring an additional 192,634 shares in the last quarter. Vanguard Group Inc. boosted its holdings in LGI Homes by 3.4% in the second quarter. Vanguard Group Inc. now owns 1,207,807 shares of the financial services provider’s stock worth $86,274,000 after acquiring an additional 39,736 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in LGI Homes by 2.0% in the second quarter. Altshuler Shaham Ltd now owns 882,787 shares of the financial services provider’s stock worth $63,057,000 after acquiring an additional 17,288 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC boosted its holdings in LGI Homes by 1.0% in the second quarter. Neumeier Poma Investment Counsel LLC now owns 459,744 shares of the financial services provider’s stock worth $32,840,000 after acquiring an additional 4,650 shares in the last quarter. Institutional investors own 94.56% of the company’s stock.
LGI Homes stock opened at $87.52 on Monday. The company has a quick ratio of 1.34, a current ratio of 15.20 and a debt-to-equity ratio of 0.92. LGI Homes Inc has a 52 week low of $37.16 and a 52 week high of $89.00. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 15.14 and a beta of 0.49. The stock has a 50-day moving average price of $82.36 and a 200 day moving average price of $74.02.
LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, August 6th. The financial services provider reported $1.82 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.20. LGI Homes had a return on equity of 21.68% and a net margin of 9.31%. The firm had revenue of $461.83 million during the quarter, compared to the consensus estimate of $465.08 million. During the same quarter in the previous year, the company posted $1.90 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. Research analysts anticipate that LGI Homes Inc will post 6.68 EPS for the current fiscal year.
In related news, Director Bryan Christopher Sansbury sold 8,949 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.91, for a total transaction of $724,063.59. Following the completion of the sale, the director now directly owns 160,121 shares in the company, valued at $12,955,390.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Thomas Lipar sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $80.28, for a total value of $2,007,000.00. Following the sale, the chief executive officer now owns 528,058 shares of the company’s stock, valued at $42,392,496.24. The disclosure for this sale can be found here. 13.40% of the stock is owned by insiders.
Several brokerages have weighed in on LGIH. ValuEngine downgraded LGI Homes from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Wells Fargo & Co raised their price target on LGI Homes from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. JPMorgan Chase & Co. downgraded LGI Homes from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $77.00 to $84.50 in a report on Wednesday, September 11th. Zacks Investment Research raised LGI Homes from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Wednesday, July 17th. Finally, BTIG Research lifted their target price on LGI Homes from $62.00 to $65.00 and gave the stock a “sell” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. LGI Homes has a consensus rating of “Hold” and a consensus price target of $83.30.
About LGI Homes
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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