KLP Kapitalforvaltning AS Takes $358,000 Position in LGI Homes, Inc. (NASDAQ:LGIH)

KLP Kapitalforvaltning AS bought a new position in shares of LGI Homes, Inc. (NASDAQ:LGIH) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,000 shares of the financial services provider’s stock, valued at approximately $358,000.

Several other hedge funds have also recently added to or reduced their stakes in LGIH. River Road Asset Management LLC raised its stake in LGI Homes by 30.6% during the 4th quarter. River Road Asset Management LLC now owns 907,923 shares of the financial services provider’s stock worth $81,168,000 after acquiring an additional 212,468 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of LGI Homes during the fourth quarter worth about $15,507,000. JPMorgan Chase & Co. lifted its holdings in shares of LGI Homes by 131.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 111,557 shares of the financial services provider’s stock valued at $13,222,000 after purchasing an additional 63,346 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of LGI Homes by 3.7% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 939,504 shares of the financial services provider’s stock valued at $111,350,000 after purchasing an additional 33,306 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of LGI Homes by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,793 shares of the financial services provider’s stock valued at $33,685,000 after purchasing an additional 27,652 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on LGIH. Seaport Res Ptn upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday, January 10th. Wedbush reiterated a “neutral” rating and set a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. dropped their price target on LGI Homes from $82.00 to $80.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, LGI Homes currently has a consensus rating of “Hold” and an average price target of $118.33.

Insider Activity at LGI Homes

In other news, COO Michael Larry Snider sold 1,105 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $75.94, for a total value of $83,913.70. Following the sale, the chief operating officer now directly owns 27,102 shares in the company, valued at $2,058,125.88. This represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.30% of the stock is currently owned by company insiders.

LGI Homes Price Performance

Shares of NASDAQ:LGIH opened at $64.61 on Friday. LGI Homes, Inc. has a 52 week low of $58.71 and a 52 week high of $125.83. The company has a 50-day moving average price of $77.17 and a 200 day moving average price of $93.98. The company has a market cap of $1.51 billion, a P/E 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 posted its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.16). LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company had revenue of $557.40 million for the quarter, compared to analyst estimates of $588.56 million. During the same period last year, the company earned $2.19 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Research analysts predict that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

LGI Homes Company 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.