Short Interest in Legacy Housing Co. (NASDAQ:LEGH) Increases By 21.2%

Legacy Housing Co. (NASDAQ:LEGH - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 573,500 shares, an increase of 21.2% from the February 28th total of 473,200 shares. Based on an average trading volume of 87,000 shares, the short-interest ratio is currently 6.6 days. Currently, 6.7% of the shares of the company are sold short.

Legacy Housing Stock Up 2.8 %

Legacy Housing stock traded up $0.67 during midday trading on Friday, reaching $24.23. The stock had a trading volume of 89,118 shares, compared to its average volume of 69,389. The firm has a market capitalization of $584.65 million, a PE ratio of 11.17 and a beta of 0.91. Legacy Housing has a 12 month low of $19.42 and a 12 month high of $29.31. The firm's 50-day moving average price is $25.79 and its 200 day moving average price is $25.73.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.07. Legacy Housing had a net margin of 33.11% and a return on equity of 11.85%. The company had revenue of $54.19 million for the quarter, compared to analysts' expectations of $44.59 million.

Insiders Place Their Bets

In other Legacy Housing news, Director Curtis Drew Hodgson sold 10,468 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $23.65, for a total value of $247,568.20. Following the completion of the sale, the director now directly owns 394,254 shares of the company's stock, valued at $9,324,107.10. This trade represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 30.60% of the company's stock.

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Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC boosted its position in shares of Legacy Housing by 139.1% in the fourth quarter. Squarepoint Ops LLC now owns 33,604 shares of the company's stock valued at $829,000 after acquiring an additional 19,550 shares during the period. CastleKnight Management LP lifted its stake in Legacy Housing by 48.9% in the 4th quarter. CastleKnight Management LP now owns 53,300 shares of the company's stock worth $1,315,000 after purchasing an additional 17,500 shares in the last quarter. Bank of America Corp DE boosted its holdings in Legacy Housing by 46.0% in the 4th quarter. Bank of America Corp DE now owns 14,747 shares of the company's stock valued at $364,000 after purchasing an additional 4,648 shares during the period. BNP Paribas Financial Markets grew its position in shares of Legacy Housing by 42.6% during the 4th quarter. BNP Paribas Financial Markets now owns 7,985 shares of the company's stock valued at $197,000 after purchasing an additional 2,385 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Legacy Housing by 2.8% in the fourth quarter. Ameriprise Financial Inc. now owns 427,619 shares of the company's stock worth $10,554,000 after purchasing an additional 11,612 shares during the period. Hedge funds and other institutional investors own 89.35% of the company's stock.

Legacy Housing Company Profile

Legacy Housing Corporation engages in the building, sale, and financing of manufactured homes and tiny houses primarily in the southern United States. It manufactures and provides for the transport of mobile homes, including 1 to 5 bedrooms with 1 to 3 1/2 bathrooms; and provides wholesale financing to dealers and mobile home parks, as well as retail financing to consumers.