Pier Capital buys $7,382,569 stake in LGI Homes Inc (LGIH)

LGI Homes Inc (LGIH) : Pier Capital scooped up 43,738 additional shares in LGI Homes Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 239,616 shares of LGI Homes Inc which is valued at $7,382,569.LGI Homes Inc makes up approximately 1.32% of Pier Capital’s portfolio.

Other Hedge Funds, Including , Lazard Asset Management sold out all of its stake in LGIH during the most recent quarter. The investment firm sold 919 shares of LGIH which is valued $28,314. Eam Investors added LGIH to its portfolio by purchasing 28,723 company shares during the most recent quarter which is valued at $888,402. LGI Homes Inc makes up approx 0.12% of Eam Investors’s portfolio.Quantbot Technologies Lp reduced its stake in LGIH by selling 1,001 shares or 94.88% in the most recent quarter. The Hedge Fund company now holds 54 shares of LGIH which is valued at $1,593. Manning Napier Advisors added LGIH to its portfolio by purchasing 145,260 company shares during the most recent quarter which is valued at $4,285,170. LGI Homes Inc makes up approx 0.03% of Manning Napier Advisors’s portfolio.

LGI Homes Inc closed down -0.04 points or -0.12% at $32.2 with 2,24,561 shares getting traded on Monday. Post opening the session at $32.24, the shares hit an intraday low of $31.89 and an intraday high of $32.4668 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, LGI Homes Inc reported $0.86 EPS for the quarter, based on the information available during the earnings call on Nov 8, 2016. Analyst had a consensus estimate of $0.86. The company had revenue of $216.30 million for the quarter, compared to analysts expectations of $213.79 million. The company’s revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.

Many Wall Street Analysts have commented on LGI Homes Inc. LGI Homes Inc was Initiated by Wells Fargo to “Outperform” on Sep 29, 2016.

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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