Yacktman Asset Management LP Lowers Stock Holdings in Legacy Housing Co. (NASDAQ:LEGH)

Yacktman Asset Management LP lowered its stake in Legacy Housing Co. (NASDAQ:LEGH - Free Report) by 46.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,000 shares of the company's stock after selling 60,000 shares during the quarter. Yacktman Asset Management LP owned about 0.29% of Legacy Housing worth $1,914,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new position in Legacy Housing during the third quarter valued at $365,000. Exchange Traded Concepts LLC bought a new stake in Legacy Housing in the third quarter worth about $292,000. SG Americas Securities LLC purchased a new position in Legacy Housing during the 3rd quarter valued at $121,000. Squarepoint Ops LLC purchased a new stake in shares of Legacy Housing during the second quarter valued at $397,000. Finally, Progeny 3 Inc. purchased a new stake in Legacy Housing in the 2nd quarter valued at about $1,019,000. Hedge funds and other institutional investors own 89.35% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LEGH. Wedbush reissued an "outperform" rating and set a $29.00 price target on shares of Legacy Housing in a research report on Friday, August 9th. B. Riley reaffirmed a "neutral" rating and set a $29.00 price target (up from $25.00) on shares of Legacy Housing in a research report on Monday, August 12th.

Insider Buying and Selling at Legacy Housing

In other news, Chairman Curtis Drew Hodgson sold 13,387 shares of the firm's stock in a transaction that occurred 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 transaction, the chairman now owns 684,486 shares in the company, valued at $18,980,796.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 143,327 shares of company stock valued at $3,819,364 over the last ninety days. Corporate insiders own 32.20% of the company's stock.

Legacy Housing Stock Performance

Shares of NASDAQ:LEGH traded up $0.99 during midday trading on Tuesday, reaching $26.17. The company's stock had a trading volume of 54,131 shares, compared to its average volume of 64,598. The firm has a market capitalization of $636.45 million, a PE ratio of 12.06 and a beta of 1.09. The stock has a fifty day moving average of $26.62 and a 200 day moving average of $24.84. Legacy Housing Co. has a twelve month low of $18.00 and a twelve month high of $29.31. The company has a quick ratio of 3.41, a current ratio of 4.39 and a debt-to-equity ratio of 0.03.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. Legacy Housing had a return on equity of 12.25% and a net margin of 32.17%. The firm had revenue of $42.50 million during the quarter, compared to analyst estimates of $46.35 million. During the same quarter in the previous year, the business earned $0.60 EPS. On average, equities analysts expect that Legacy Housing Co. will post 2.55 EPS for the current fiscal year.

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.