Legacy Housing (NASDAQ:LEGH) Sets New 1-Year Low - Here's Why

Shares of Legacy Housing Co. (NASDAQ:LEGH - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $17.00 and last traded at $24.02, with a volume of 497 shares changing hands. The stock had previously closed at $25.24.

Legacy Housing Trading Up 2.8 %

The business's fifty day simple moving average is $25.79 and its 200 day simple moving average is $25.73. The stock has a market cap of $584.65 million, a price-to-earnings ratio of 11.17 and a beta of 0.91.

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

Insider Buying and Selling

In related 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 transaction of $247,568.20. Following the sale, the director now owns 394,254 shares of the company's stock, valued at approximately $9,324,107.10. This trade represents a 2.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 30.60% of the stock is owned by insiders.

Remove Ads

Institutional Investors Weigh In On Legacy Housing

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in Legacy Housing by 193.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 91,453 shares of the company's stock worth $2,501,000 after purchasing an additional 60,292 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Legacy Housing by 17.8% during the third quarter. BNP Paribas Financial Markets now owns 5,600 shares of the company's stock worth $153,000 after acquiring an additional 848 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Legacy Housing in the 3rd quarter valued at $85,000. Hotchkis & Wiley Capital Management LLC acquired a new position in Legacy Housing in the 3rd quarter worth $3,211,000. Finally, State Street Corp increased its holdings in Legacy Housing by 5.9% during the 3rd quarter. State Street Corp now owns 207,972 shares of the company's stock worth $5,688,000 after purchasing an additional 11,599 shares in the last quarter. Institutional investors and hedge funds own 89.35% of the company's stock.

About Legacy Housing

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.