Assenagon Asset Management S.A. Acquires New Holdings in LGI Homes Inc (NASDAQ:LGIH)

Assenagon Asset Management S.A. acquired a new stake in shares of LGI Homes Inc (NASDAQ:LGIH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,781 shares of the financial services provider’s stock, valued at approximately $732,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Prudential Financial Inc. raised its position in LGI Homes by 0.8% during the second quarter. Prudential Financial Inc. now owns 30,256 shares of the financial services provider’s stock valued at $2,161,000 after acquiring an additional 246 shares in the last quarter. Brookstone Capital Management raised its position in shares of LGI Homes by 4.9% in the second quarter. Brookstone Capital Management now owns 7,024 shares of the financial services provider’s stock valued at $502,000 after purchasing an additional 330 shares during the period. U S Global Investors Inc. raised its position in shares of LGI Homes by 2.5% in the second quarter. U S Global Investors Inc. now owns 17,752 shares of the financial services provider’s stock valued at $1,268,000 after purchasing an additional 425 shares during the period. Arizona State Retirement System raised its position in shares of LGI Homes by 1.5% in the second quarter. Arizona State Retirement System now owns 29,162 shares of the financial services provider’s stock valued at $2,083,000 after purchasing an additional 439 shares during the period. Finally, Campbell Newman Asset Management Inc. raised its position in shares of LGI Homes by 7.0% in the second quarter. Campbell Newman Asset Management Inc. now owns 8,582 shares of the financial services provider’s stock valued at $613,000 after purchasing an additional 565 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on LGIH. BidaskClub raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Zacks Investment Research lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Tuesday. BTIG Research lifted their price target on shares of LGI Homes from $62.00 to $65.00 and gave the company a “sell” rating in a research report on Monday, September 23rd. ValuEngine lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered shares of LGI Homes from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $77.00 to $84.50 in a research report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $83.30.

NASDAQ:LGIH opened at $83.26 on Wednesday. LGI Homes Inc has a 12 month low of $37.16 and a 12 month high of $89.00. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 13.11 and a beta of 0.49. The company has a quick ratio of 1.34, a current ratio of 15.20 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average is $82.77 and its 200-day moving average is $74.51.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.20. LGI Homes had a net margin of 9.31% and a return on equity of 21.68%. The company had revenue of $461.83 million for the quarter, compared to analyst estimates of $465.08 million. During the same quarter last year, the firm posted $1.90 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts predict that LGI Homes Inc will post 6.68 EPS for the current fiscal year.

In other news, CEO Eric Thomas Lipar sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were 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 in the company, valued at $42,392,496.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bryan Christopher Sansbury sold 8,949 shares of the firm’s stock in a transaction 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 owns 160,121 shares in the company, valued at approximately $12,955,390.11. The disclosure for this sale can be found here. Company insiders own 13.40% of the company’s stock.

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

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