Pinnacle Holdings LLC Lowers Stake in LGI Homes Inc (NASDAQ:LGIH)

Pinnacle Holdings LLC reduced its stake in shares of LGI Homes Inc (NASDAQ:LGIH) by 5.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,031 shares of the financial services provider’s stock after selling 905 shares during the quarter. Pinnacle Holdings LLC owned approximately 0.07% of LGI Homes worth $1,145,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of LGI Homes by 6.6% during the second quarter. BlackRock Inc. now owns 3,082,158 shares of the financial services provider’s stock valued at $220,160,000 after purchasing an additional 191,656 shares during the period. Wasatch Advisors Inc. boosted its stake in shares of LGI Homes by 14.6% during the second quarter. Wasatch Advisors Inc. now owns 1,512,176 shares of the financial services provider’s stock valued at $108,015,000 after purchasing an additional 192,634 shares during the period. Altshuler Shaham Ltd boosted its stake in shares of LGI Homes by 2.0% during the second quarter. Altshuler Shaham Ltd now owns 882,787 shares of the financial services provider’s stock valued at $63,057,000 after purchasing an additional 17,288 shares during the period. Royce & Associates LP boosted its stake in shares of LGI Homes by 21.3% during the first quarter. Royce & Associates LP now owns 295,020 shares of the financial services provider’s stock valued at $17,772,000 after purchasing an additional 51,728 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of LGI Homes by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 267,305 shares of the financial services provider’s stock valued at $19,094,000 after purchasing an additional 4,947 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Bryan Christopher Sansbury sold 8,949 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.91, for a total transaction of $724,063.59. Following the transaction, the director now owns 160,121 shares in the company, valued at $12,955,390.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric Thomas Lipar sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $80.28, for a total transaction of $2,007,000.00. Following the transaction, the chief executive officer now owns 528,058 shares in the company, valued at approximately $42,392,496.24. The disclosure for this sale can be found here. Corporate insiders own 13.40% of the company’s stock.



Shares of LGIH stock traded down $2.25 during mid-day trading on Friday, hitting $79.77. 18,331 shares of the stock traded hands, compared to its average volume of 234,757. The stock has a market cap of $1.78 billion, a P/E ratio of 12.53 and a beta of 0.51. The stock’s fifty day moving average is $76.67 and its two-hundred day moving average is $69.67. LGI Homes Inc has a 52-week low of $37.16 and a 52-week high of $85.41. The company has a debt-to-equity ratio of 0.92, a current ratio of 15.20 and a quick ratio of 1.34.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.20. The business had revenue of $461.83 million during the quarter, compared to analyst estimates of $465.08 million. LGI Homes had a net margin of 9.31% and a return on equity of 21.68%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 earnings per share. As a group, equities analysts forecast that LGI Homes Inc will post 6.73 EPS for the current fiscal year.

A number of analysts have recently issued reports on LGIH shares. BidaskClub lowered shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday. JMP Securities upped their price objective on shares of LGI Homes from $83.00 to $89.00 and gave the stock a “market outperform” rating in a research note on Friday, September 6th. Zacks Investment Research raised shares of LGI Homes from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lowered shares of LGI Homes from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $77.00 to $84.50 in a research note on Wednesday. Finally, Wells Fargo & Co upped their price objective on shares of LGI Homes from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $78.08.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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

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