American International Group Inc. lowered its position in shares of LGI Homes Inc (NASDAQ:LGIH) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,992 shares of the financial services provider’s stock after selling 381 shares during the period. American International Group Inc. owned 0.06% of LGI Homes worth $843,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. First Mercantile Trust Co. grew its stake in shares of LGI Homes by 28.6% during the fourth quarter. First Mercantile Trust Co. now owns 3,407 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 757 shares in the last quarter. Macquarie Group Ltd. lifted its position in LGI Homes by 514.4% in the fourth quarter. Macquarie Group Ltd. now owns 3,883 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 3,251 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in LGI Homes in the fourth quarter valued at $210,000. 6 Meridian purchased a new stake in LGI Homes in the first quarter valued at $217,000. Finally, Camelot Portfolios LLC purchased a new stake in LGI Homes in the fourth quarter valued at $226,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.
In other LGI Homes news, Director Steven Randal Smith sold 2,500 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $74.49, for a total transaction of $186,225.00. Following the transaction, the director now directly owns 12,407 shares in the company, valued at approximately $924,197.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Larry Snider sold 3,852 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $68.01, for a total value of $261,974.52. Following the transaction, the insider now owns 188,814 shares in the company, valued at $12,841,240.14. The disclosure for this sale can be found here. Insiders have sold 29,522 shares of company stock worth $2,054,308 over the last 90 days. 13.40% of the stock is currently owned by corporate insiders.
NASDAQ:LGIH traded up $0.53 during trading hours on Monday, hitting $71.96. 175,579 shares of the company traded hands, compared to its average volume of 305,217. The company has a market capitalization of $1.65 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 0.97 and a beta of 0.57. LGI Homes Inc has a twelve month low of $37.16 and a twelve month high of $75.49. The stock’s 50-day moving average price is $70.94. The company has a debt-to-equity ratio of 1.00, a current ratio of 16.86 and a quick ratio of 1.35.
LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). LGI Homes had a return on equity of 23.28% and a net margin of 9.67%. The firm had revenue of $287.60 million during the quarter, compared to the consensus estimate of $288.06 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. LGI Homes’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts expect that LGI Homes Inc will post 6.71 EPS for the current year.
LGI Homes Company Profile
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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