CDAM UK Ltd Boosts Stake in LGI Homes, Inc. (NASDAQ:LGIH)

CDAM UK Ltd boosted its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 733,943 shares of the financial services provider’s stock after purchasing an additional 19,048 shares during the quarter. LGI Homes comprises about 9.8% of CDAM UK Ltd’s investment portfolio, making the stock its 6th largest holding. CDAM UK Ltd owned about 3.12% of LGI Homes worth $65,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in LGI Homes by 44.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,676 shares of the financial services provider’s stock worth $554,000 after purchasing an additional 1,434 shares during the period. Paloma Partners Management Co acquired a new stake in LGI Homes during the 3rd quarter worth $238,000. HighTower Advisors LLC acquired a new stake in LGI Homes during the 3rd quarter worth $229,000. Hotchkis & Wiley Capital Management LLC bought a new position in LGI Homes during the third quarter worth about $6,859,000. Finally, Readystate Asset Management LP bought a new stake in shares of LGI Homes in the third quarter worth about $407,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

Analysts Set New Price Targets

LGIH has been the subject of several research analyst reports. Seaport Res Ptn upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. Wedbush restated a “neutral” rating and set a $115.00 price objective (down from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Finally, JMP Securities reiterated a “market outperform” rating and set a $160.00 target price on shares of LGI Homes in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $118.33.

Insider Activity at LGI Homes

In other LGI Homes news, COO Michael Larry Snider sold 1,105 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $75.94, for a total transaction of $83,913.70. Following the sale, the chief operating officer now directly owns 27,102 shares of the company’s stock, valued at approximately $2,058,125.88. This represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 12.30% of the company’s stock.

LGI Homes Stock Performance

Shares of LGIH stock opened at $64.61 on Friday. LGI Homes, Inc. has a 12 month low of $58.71 and a 12 month high of $125.83. The company’s fifty day simple moving average is $77.17 and its 200-day simple moving average is $94.17. The firm has a market cap of $1.51 billion, a PE ratio of 7.75 and a beta of 2.13. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.16). The business had revenue of $557.40 million for the quarter, compared to the consensus estimate of $588.56 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.19 earnings per share. Equities research analysts expect that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

About LGI Homes

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.