Fortaleza Asset Management Inc. Has $157,000 Holdings in LGI Homes, Inc. (LGIH)
Fortaleza Asset Management Inc. cut its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 44.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,230 shares of the financial services provider’s stock after selling 2,545 shares during the quarter. Fortaleza Asset Management Inc.’s holdings in LGI Homes were worth $157,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in LGIH. FMR LLC acquired a new position in LGI Homes in the second quarter valued at approximately $21,233,000. Capital Growth Management LP acquired a new position in LGI Homes in the second quarter valued at approximately $8,840,000. Pictet Asset Management Ltd. lifted its holdings in LGI Homes by 467.7% in the second quarter. Pictet Asset Management Ltd. now owns 215,227 shares of the financial services provider’s stock valued at $6,973,000 after acquiring an additional 177,316 shares during the period. Kennedy Capital Management Inc. acquired a new position in LGI Homes in the second quarter valued at approximately $6,402,000. Finally, BlackRock Inc. lifted its holdings 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 valued at $100,180,000 after acquiring an additional 92,633 shares during the period. 93.38% of the stock is owned by institutional investors.
In other news, insider Michael Larry Snider sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $45.81, for a total value of $160,335.00. Following the completion of the sale, the insider now directly owns 191,948 shares of the company’s stock, valued at approximately $8,793,137.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bryan Christopher Sansbury sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $46.30, for a total value of $1,157,500.00. Following the completion of the sale, the director now directly owns 159,551 shares of the company’s stock, valued at $7,387,211.30. The disclosure for this sale can be found here. Insiders sold a total of 53,500 shares of company stock valued at $2,674,585 over the last three months. Insiders own 13.60% of the company’s stock.
Shares of LGI Homes, Inc. (NASDAQ:LGIH) traded up 0.78% on Tuesday, hitting $59.51. The stock had a trading volume of 91,606 shares. LGI Homes, Inc. has a one year low of $26.82 and a one year high of $60.19. The firm’s 50-day moving average is $50.75 and its 200-day moving average is $41.80. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 15.80 and a beta of 0.11.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.27 by $0.12. The business had revenue of $324.20 million during the quarter, compared to analysts’ expectations of $317.63 million. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The company’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. On average, analysts expect that LGI Homes, Inc. will post $4.41 EPS for the current fiscal year.
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LGIH has been the subject of a number of analyst reports. Zacks Investment Research raised LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 price target for the company in a report on Tuesday, July 18th. BidaskClub downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Friday, August 25th. Wedbush raised LGI Homes from a “neutral” rating to an “outperform” rating and set a $49.00 price target for the company in a report on Thursday, August 31st. ValuEngine raised LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. Finally, J P Morgan Chase & Co downgraded LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price target for the company. in a report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $49.40.
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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