LGI Homes, Inc. (NASDAQ:LGIH) Shares Purchased by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI grew its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 18.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 722 shares of the financial services provider’s stock after purchasing an additional 112 shares during the period. Arcadia Investment Management Corp MI’s holdings in LGI Homes were worth $96,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LGIH. Tributary Capital Management LLC increased its stake in LGI Homes by 24.5% during the 4th quarter. Tributary Capital Management LLC now owns 133,742 shares of the financial services provider’s stock worth $17,809,000 after buying an additional 26,280 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake in shares of LGI Homes by 102.7% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 35,149 shares of the financial services provider’s stock valued at $4,680,000 after acquiring an additional 17,811 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in LGI Homes in the third quarter valued at $568,000. Rhumbline Advisers grew its stake in LGI Homes by 0.7% during the 3rd quarter. Rhumbline Advisers now owns 66,913 shares of the financial services provider’s stock worth $6,657,000 after purchasing an additional 437 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in LGI Homes by 105.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,313 shares of the financial services provider’s stock worth $1,325,000 after purchasing an additional 6,842 shares in the last quarter. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Eric Thomas Lipar sold 10,869 shares of LGI Homes stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $1,216,784.55. Following the transaction, the chief executive officer now directly owns 627,430 shares in the company, valued at approximately $70,240,788.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Eric Thomas Lipar sold 10,869 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $1,216,784.55. Following the completion of the sale, the chief executive officer now owns 627,430 shares in the company, valued at $70,240,788.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Scott James Garber sold 1,212 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $135,683.40. Following the transaction, the general counsel now directly owns 13,824 shares of the company’s stock, valued at $1,547,596.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,435 shares of company stock valued at $2,944,291. 12.20% of the stock is owned by company insiders.

LGI Homes Stock Performance

NASDAQ:LGIH traded up $1.40 during trading hours on Thursday, reaching $99.42. 153,916 shares of the company’s stock were exchanged, compared to its average volume of 207,436. LGI Homes, Inc. has a 1-year low of $84.15 and a 1-year high of $141.91. The company has a quick ratio of 0.43, a current ratio of 12.36 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 12.43 and a beta of 1.86. The company has a 50-day moving average of $103.73 and a 200 day moving average of $113.59.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.30). The business had revenue of $390.90 million for the quarter, compared to analyst estimates of $400.00 million. LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. LGI Homes’s quarterly revenue was down 19.8% on a year-over-year basis. During the same quarter last year, the company posted $1.14 EPS. Research analysts anticipate that LGI Homes, Inc. will post 9.25 EPS for the current year.

Analysts Set New Price Targets

LGIH has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday, April 5th. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Wedbush reaffirmed an “underperform” rating and set a $74.00 price objective (down from $88.00) on shares of LGI Homes in a research report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $110.50.

LGI Homes Profile

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.