Legacy Housing Co. (NASDAQ:LEGH) Sees Significant Increase in Short Interest

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

Institutional Trading of Legacy Housing

Large investors have recently added to or reduced their stakes in the stock. Aquatic Capital Management LLC purchased a new stake in shares of Legacy Housing in the 4th quarter valued at approximately $33,000. KLP Kapitalforvaltning AS acquired a new position in shares of Legacy Housing in the 4th quarter valued at $49,000. GAMMA Investing LLC increased its position in shares of Legacy Housing by 6,650.0% during the 1st quarter. GAMMA Investing LLC now owns 2,295 shares of the company's stock worth $58,000 after purchasing an additional 2,261 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Legacy Housing in the 3rd quarter valued at about $85,000. Finally, JPMorgan Chase & Co. lifted its position in Legacy Housing by 11.1% in the third quarter. JPMorgan Chase & Co. now owns 5,423 shares of the company's stock valued at $148,000 after buying an additional 543 shares during the last quarter. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

Legacy Housing Stock Performance

Shares of LEGH traded down $1.01 during trading hours on Monday, hitting $23.22. 66,673 shares of the stock were exchanged, compared to its average volume of 69,378. Legacy Housing has a 12-month low of $19.42 and a 12-month high of $29.31. The stock's 50-day moving average price is $25.79 and its two-hundred day moving average price is $25.71. The company has a market cap of $560.28 million, a price-to-earnings ratio of 10.70 and a beta of 0.91.

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

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.