First Eagle Investment Management LLC Purchases 4,600 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

First Eagle Investment Management LLC increased its position in LGI Homes, Inc. (NASDAQ:LGIHGet Rating) by 122.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,367 shares of the financial services provider’s stock after purchasing an additional 4,600 shares during the period. First Eagle Investment Management LLC’s holdings in LGI Homes were worth $1,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LGIH. First Horizon Advisors Inc. lifted its stake in LGI Homes by 298.0% during the 4th quarter. First Horizon Advisors Inc. now owns 203 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 152 shares in the last quarter. UMB Bank N A MO bought a new position in LGI Homes during the 4th quarter valued at $36,000. Confluence Wealth Services Inc. bought a new position in LGI Homes during the 4th quarter valued at $44,000. Strs Ohio lifted its stake in LGI Homes by 20.0% during the 4th quarter. Strs Ohio now owns 600 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 100 shares in the last quarter. Finally, Heritage Wealth Management LLC lifted its stake in LGI Homes by 18.7% during the 3rd quarter. Heritage Wealth Management LLC now owns 602 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

In other news, CEO Eric Thomas Lipar sold 32,860 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $118.99, for a total value of $3,910,011.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Larry Snider sold 16,729 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $118.99, for a total value of $1,990,583.71. The disclosure for this sale can be found here. Insiders have sold a total of 53,472 shares of company stock valued at $6,362,633 in the last 90 days. 12.50% of the stock is currently owned by company insiders.

LGIH traded up $4.47 during trading hours on Friday, hitting $99.01. The stock had a trading volume of 439,106 shares, compared to its average volume of 341,508. The stock has a market cap of $2.34 billion, a PE ratio of 5.99 and a beta of 1.49. The company’s fifty day simple moving average is $102.24 and its 200 day simple moving average is $125.66. The company has a quick ratio of 0.86, a current ratio of 14.77 and a debt-to-equity ratio of 0.71. LGI Homes, Inc. has a 1 year low of $87.92 and a 1 year high of $185.00.

LGI Homes (NASDAQ:LGIHGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.53. The business had revenue of $546.05 million during the quarter, compared to analysts’ expectations of $530.07 million. LGI Homes had a return on equity of 30.05% and a net margin of 14.14%. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.95 EPS. As a group, equities analysts expect that LGI Homes, Inc. will post 19.84 EPS for the current year.

Several brokerages have weighed in on LGIH. JPMorgan Chase & Co. dropped their price objective on LGI Homes from $96.00 to $81.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 13th. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Friday. BTIG Research upgraded LGI Homes from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 20th. StockNews.com cut LGI Homes from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, TheStreet cut LGI Homes from a “b-” rating to a “c+” rating in a research note on Thursday, April 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $122.80.

LGI Homes Company Profile (Get Rating)

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to companies looking to acquire single-family rental properties.

Further Reading

Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

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