Legacy Housing (NASDAQ:LEGH) Trading Down 2.3% - Here's Why

Legacy Housing Co. (NASDAQ:LEGH - Get Free Report) traded down 2.3% during mid-day trading on Friday . The company traded as low as $25.11 and last traded at $24.84. 6,460 shares were traded during mid-day trading, a decline of 91% from the average session volume of 71,220 shares. The stock had previously closed at $25.41.

Legacy Housing Stock Performance

The company has a market capitalization of $626.42 million, a P/E ratio of 11.95 and a beta of 1.16. The business's fifty day simple moving average is $25.42 and its 200-day simple moving average is $25.85.

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

Insider Buying and Selling at Legacy Housing

In related news, Director Curtis Drew Hodgson sold 17,300 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $24.49, for a total transaction of $423,677.00. Following the completion of the transaction, the director now owns 422,022 shares in the company, valued at $10,335,318.78. The trade was a 3.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 36,952 shares of company stock valued at $896,529 in the last three months. Company insiders own 30.60% of the company's stock.

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Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Meixler Investment Management Ltd. increased its stake in Legacy Housing by 0.5% during the 4th quarter. Meixler Investment Management Ltd. now owns 107,440 shares of the company's stock valued at $2,652,000 after purchasing an additional 541 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Legacy Housing by 11.1% during the third quarter. JPMorgan Chase & Co. now owns 5,423 shares of the company's stock worth $148,000 after buying an additional 543 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in 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 buying an additional 848 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Legacy Housing by 9.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,706 shares of the company's stock worth $289,000 after buying an additional 1,030 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Legacy Housing by 18.5% during the fourth quarter. MetLife Investment Management LLC now owns 6,924 shares of the company's stock valued at $171,000 after purchasing an additional 1,081 shares in the last quarter. 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.