LGI Homes, Inc. (LGIH) Stake Lowered by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC reduced its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 3.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 759,450 shares of the financial services provider’s stock after selling 28,100 shares during the quarter. LGI Homes comprises approximately 3.6% of Neumeier Poma Investment Counsel LLC’s holdings, making the stock its 10th largest holding. Neumeier Poma Investment Counsel LLC owned 3.52% of LGI Homes worth $30,515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LGIH. BlackRock Inc. lifted its position in LGI Homes by 3.9% in the second quarter. BlackRock Inc. now owns 2,493,251 shares of the financial services provider’s stock worth $100,180,000 after buying an additional 92,633 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in LGI Homes by 4.3% in the second quarter. Frontier Capital Management Co. LLC now owns 1,837,651 shares of the financial services provider’s stock worth $73,837,000 after buying an additional 75,115 shares during the last quarter. Vanguard Group Inc. lifted its position in LGI Homes by 5.7% in the first quarter. Vanguard Group Inc. now owns 849,255 shares of the financial services provider’s stock worth $28,798,000 after buying an additional 45,728 shares during the last quarter. Heartland Advisors Inc. lifted its position in LGI Homes by 3.7% in the second quarter. Heartland Advisors Inc. now owns 727,800 shares of the financial services provider’s stock worth $29,243,000 after buying an additional 25,800 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in LGI Homes by 34.0% in the second quarter. Bank of New York Mellon Corp now owns 274,296 shares of the financial services provider’s stock worth $11,021,000 after buying an additional 69,653 shares during the last quarter. Hedge funds and other institutional investors own 93.49% of the company’s stock.

LGIH has been the subject of a number of analyst reports. Deutsche Bank AG raised their price target on LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. ValuEngine downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. BidaskClub downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research downgraded LGI Homes from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Wedbush restated a “neutral” rating and issued a $35.00 price target on shares of LGI Homes in a research report on Tuesday, July 4th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.00.

LGI Homes, Inc. (LGIH) traded down 0.87% during mid-day trading on Friday, hitting $44.67. The stock had a trading volume of 330,565 shares. The firm’s 50-day moving average price is $44.94 and its 200 day moving average price is $37.23. The company has a market cap of $965.54 million, a PE ratio of 11.86 and a beta of 0.08. LGI Homes, Inc. has a one year low of $26.82 and a one year high of $49.95.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.12. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The business had revenue of $324.20 million for the quarter, compared to analyst estimates of $317.63 million. During the same quarter in the prior year, the company posted $0.96 EPS. The company’s quarterly revenue was up 45.6% on a year-over-year basis. On average, equities research analysts anticipate that LGI Homes, Inc. will post $4.30 EPS for the current year.

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In other news, Director Bryan Christopher Sansbury sold 25,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $46.30, for a total value of $1,157,500.00. Following the transaction, the director now owns 159,551 shares of the company’s stock, valued at approximately $7,387,211.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $42.59, for a total value of $425,900.00. Following the completion of the transaction, the chief executive officer now directly owns 524,175 shares in the company, valued at approximately $22,324,613.25. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company’s stock.

LGI Homes Profile

LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

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

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