UBS Group AG Reduces Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Posted by on Feb 24th, 2023

UBS Group AG lowered its position in LGI Homes, Inc. (NASDAQ:LGIH – Get Rating) by 9.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 131,233 shares of the financial services provider’s stock after selling 13,498 shares during the period. UBS Group AG owned about 0.56% of LGI Homes worth $10,678,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of LGI Homes by 484.4% in the second quarter. FMR LLC now owns 1,326,768 shares of the financial services provider’s stock valued at $115,296,000 after acquiring an additional 1,099,732 shares during the period. Platinum Investment Management Ltd. increased its holdings in LGI Homes by 73.0% during the 2nd quarter. Platinum Investment Management Ltd. now owns 414,391 shares of the financial services provider’s stock worth $36,011,000 after purchasing an additional 174,846 shares during the period. CDAM UK Ltd raised its position in LGI Homes by 37.8% during the 2nd quarter. CDAM UK Ltd now owns 577,658 shares of the financial services provider’s stock valued at $50,199,000 after purchasing an additional 158,320 shares in the last quarter. StackLine Partners LP purchased a new stake in shares of LGI Homes in the 2nd quarter worth $8,236,000. Finally, O Brien Greene & Co. Inc grew its position in shares of LGI Homes by 201.8% during the 3rd quarter. O Brien Greene & Co. Inc now owns 138,063 shares of the financial services provider’s stock worth $11,234,000 after buying an additional 92,324 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

LGI Homes Stock Performance

Shares of LGIH opened at $107.07 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.47 and a current ratio of 8.17. The stock has a 50-day moving average of $106.50 and a two-hundred day moving average of $97.31. The stock has a market cap of $2.49 billion, a P/E ratio of 7.79 and a beta of 1.65. LGI Homes, Inc. has a one year low of $71.73 and a one year high of $134.05.

LGI Homes (NASDAQ:LGIH – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.36 by $0.09. LGI Homes had a return on equity of 21.12% and a net margin of 14.17%. The firm had revenue of $488.26 million during the quarter, compared to the consensus estimate of $530.69 million. During the same period in the prior year, the company earned $4.53 EPS. The firm’s revenue was down 39.0% compared to the same quarter last year. As a group, research analysts predict that LGI Homes, Inc. will post 8.6 EPS for the current year.

Analyst Ratings Changes

LGIH has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their price objective on shares of LGI Homes from $84.00 to $79.00 and set an “underweight” rating for the company in a research note on Thursday. BTIG Research cut shares of LGI Homes from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a research report on Wednesday. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $93.20.

Insider Transactions at LGI Homes

In related news, Director Steven Randal Smith sold 991 shares of LGI Homes stock in a transaction on Thursday, December 22nd. The shares were sold at an average price of $95.27, for a total transaction of $94,412.57. Following the sale, the director now directly owns 1,490 shares in the company, valued at approximately $141,952.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.50% of the company’s stock.

About LGI Homes

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LGI Homes, Inc engages in the design, construction, marketing, and sale of new homes. It focuses on residential land development business. It operates through the following segments: Central, West, Southeast, Florida,Midwest, Mid-Atlantic and Northwest. The company was founded by Eric Thomas Lipar in 2003 and is headquartered in The Woodlands, TX.

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

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