Renaissance Technologies LLC Acquires 24,800 Shares of Legacy Housing Co. (NASDAQ:LEGH)

Renaissance Technologies LLC raised its stake in shares of Legacy Housing Co. (NASDAQ:LEGH - Free Report) by 161.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,200 shares of the company's stock after acquiring an additional 24,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.17% of Legacy Housing worth $922,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Legacy Housing during the second quarter worth approximately $28,000. EntryPoint Capital LLC acquired a new stake in shares of Legacy Housing in the 1st quarter valued at $45,000. BNP Paribas Financial Markets increased its stake in shares of Legacy Housing by 79.0% in the 1st quarter. BNP Paribas Financial Markets now owns 5,708 shares of the company's stock valued at $123,000 after buying an additional 2,520 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Legacy Housing in the 1st quarter valued at $245,000. Finally, Rhumbline Advisers increased its stake in shares of Legacy Housing by 13.8% in the 2nd quarter. Rhumbline Advisers now owns 17,796 shares of the company's stock valued at $408,000 after buying an additional 2,152 shares during the period. Institutional investors own 89.35% of the company's stock.

Legacy Housing Stock Performance

Shares of NASDAQ LEGH traded down $0.06 during trading hours on Tuesday, reaching $26.15. 38,359 shares of the stock were exchanged, compared to its average volume of 66,942. The firm has a market capitalization of $635.86 million, a price-to-earnings ratio of 12.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.41 and a current ratio of 4.39. Legacy Housing Co. has a 52 week low of $17.67 and a 52 week high of $29.31. The stock's fifty day simple moving average is $26.82 and its 200 day simple moving average is $24.07.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. Legacy Housing had a return on equity of 12.25% and a net margin of 32.17%. The company had revenue of $42.50 million for the quarter, compared to analyst estimates of $46.35 million. During the same quarter last year, the company earned $0.60 earnings per share. Sell-side analysts predict that Legacy Housing Co. will post 2.55 EPS for the current year.

Insiders Place Their Bets

In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 13,387 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $27.73, for a total value of $371,221.51. Following the sale, the chairman now owns 684,486 shares of the company's stock, valued at approximately $18,980,796.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 92,460 shares of company stock worth $2,497,923 in the last 90 days. Company insiders own 32.20% of the company's stock.

Analysts Set New Price Targets

LEGH has been the subject of a number of recent analyst reports. Wedbush reiterated an "outperform" rating and issued a $29.00 price objective on shares of Legacy Housing in a report on Friday, August 9th. B. Riley reaffirmed a "neutral" rating and set a $29.00 price objective (up from $25.00) on shares of Legacy Housing in a research report on Monday, August 12th.

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.