Covalent Partners buys $17,898,349 stake in LGI Homes Inc (LGIH)

LGI Homes Inc (LGIH) : Covalent Partners scooped up 77,000 additional shares in LGI Homes Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 523,803 shares of LGI Homes Inc which is valued at $17,898,349.LGI Homes Inc makes up approximately 6.14% of Covalent Partners’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in LGIH in the latest quarter, The investment management firm added 5,352 additional shares and now holds a total of 56,174 shares of LGI Homes Inc which is valued at $1,919,466. Renaissance Technologies sold out all of its stake in LGIH during the most recent quarter. The investment firm sold 95,100 shares of LGIH which is valued $3,249,567.New York State Common Retirement Fund boosted its stake in LGIH in the latest quarter, The investment management firm added 4,222 additional shares and now holds a total of 37,633 shares of LGI Homes Inc which is valued at $1,285,920.Dimensional Fund Advisors Lp reduced its stake in LGIH by selling 1,137 shares or 2.16% in the most recent quarter. The Hedge Fund company now holds 51,619 shares of LGIH which is valued at $1,668,842.Lsv Asset Management boosted its stake in LGIH in the latest quarter, The investment management firm added 25,403 additional shares and now holds a total of 64,703 shares of LGI Homes Inc which is valued at $2,113,847.

LGI Homes Inc opened for trading at $38.47 and hit $39.16 on the upside on Thursday, eventually ending the session at $38.59, with a gain of 0.44% or 0.17 points. The heightened volatility saw the trading volume jump to 2,88,169 shares. Company has a market cap of $811 M.

On the company’s financial health, LGI Homes Inc reported $0.96 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.90. The company had revenue of $222.72 million for the quarter, compared to analysts expectations of $219.52 million. The company’s revenue was up 40.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.

LGI Homes Inc. is a homebuilder. The Company is engaged in the design construction marketing and sale of new homes in markets in Texas Arizona Florida Georgia New Mexico South Carolina North Carolina and Colorado. The Company’s product offerings include entry-level homes sold under its LGI Homes brand and its move-up homes which are sold under Terrata Homes brand. Terrata Homes brand delivers move-in ready homes. It manages its homebuilding operations under four segments: Texas division Southwest division Southeast division and Florida division. Its Texas division includes Houston Dallas/Ft. Worth San Antonio and Austin operations; Southwest division includes Phoenix Tucson Albuquerque and Denver operations; Southeast division includes Atlanta and Charlotte operations and Florida division includes Tampa Orlando and Fort Myers operations. It has constructed and closed approximately 8500 homes. It has a total of around 453 completed homes and 578 homes in progress.

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