Hedge Funds Have Never Been This Bullish On LGI Homes Inc (LGIH)

The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of June 30th, when the S&P 500 Index was trading around the 3100 level. Since the end of March, investors decided to bet on the economic recovery and a stock market rebound. S&P 500 Index returned more than 50% since its bottom. In this article you are going to find out whether hedge funds thought LGI Homes Inc (NASDAQ:LGIH)¬†was a good investment heading into the third quarter and how the stock traded in comparison to the top hedge fund picks.

LGI Homes Inc (NASDAQ:LGIH) has seen an increase in support from the world’s most elite money managers of late. LGI Homes Inc (NASDAQ:LGIH) was in 22

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LGI Homes (LGIH) Hits 52-Week High, Can the Run Continue?

Shares of LGI Homes (LGIH) have been strong performers lately, with the stock up 9.9% over the past month. The stock hit a new 52-week high of $127.59 in the previous session. LGI Homes has gained 78.6% since the start of the year compared to the -16.5% move for the Zacks Finance sector and the -17.7% return for the Zacks Real Estate – Development industry.

What’s Driving the Outperformance?

The stock has an impressive record of positive earnings surprises, as it hasn’t missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on August 4, 2020, LGI Homes reported EPS of $2.21 versus consensus estimate of $1.49 while it beat the consensus revenue estimate by 4.3%.

For the current fiscal year, LGI Homes is expected to post earnings of $9.16 per share on $2.12 billion in revenues. This represents a 30.63% change in

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