Philadelphia Financial Management of San Francisco LLC bought a new position in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 175,175 shares of the financial services provider's stock, valued at approximately $11,155,144,000. LGI Homes makes up approximately 2.2% of Philadelphia Financial Management of San Francisco LLC's investment portfolio, making the stock its 10th biggest position. Philadelphia Financial Management of San Francisco LLC owned approximately 0.75% of LGI Homes at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in LGI Homes by 75.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider's stock worth $28,000 after purchasing an additional 237 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in LGI Homes during the 4th quarter worth $29,000. Russell Investments Group Ltd. increased its position in LGI Homes by 106.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider's stock valued at $30,000 after buying an additional 305 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in LGI Homes in the fourth quarter valued at about $32,000. Finally, Rockefeller Capital Management L.P. raised its stake in LGI Homes by 1,759.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 874 shares of the financial services provider's stock valued at $38,000 after buying an additional 827 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors.
LGI Homes Stock Down 1.4%
LGIH stock opened at $58.22 on Thursday. The company has a market capitalization of $1.35 billion, a P/E ratio of 20.43 and a beta of 1.83. The firm's fifty day simple moving average is $58.99 and its 200-day simple moving average is $50.92. LGI Homes, Inc. has a 12 month low of $33.55 and a 12 month high of $69.50. The company has a debt-to-equity ratio of 0.74, a current ratio of 17.74 and a quick ratio of 0.61.
LGI Homes (NASDAQ:LGIH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%.The company had revenue of $516.05 million for the quarter, compared to the consensus estimate of $489.23 million. During the same period last year, the firm earned $1.36 EPS. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Wall Street Zen raised shares of LGI Homes from a "sell" rating to a "hold" rating in a research report on Sunday, August 16th. Weiss Ratings lowered shares of LGI Homes from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of LGI Homes from $38.00 to $41.00 and gave the stock an "underweight" rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $72.75.
Read Our Latest Analysis on LGIH
About LGI Homes
(
Free Report)
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.
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