Legacy Housing Corp (NASDAQ:LEGH) major shareholder William G. Shipley sold 10,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $15.49, for a total value of $154,900.00. Following the sale, the insider now owns 3,256,667 shares of the company’s stock, valued at approximately $50,445,771.83. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of NASDAQ:LEGH opened at $15.28 on Wednesday. The firm has a 50 day simple moving average of $15.84 and a 200 day simple moving average of $14.62. Legacy Housing Corp has a 52 week low of $8.93 and a 52 week high of $17.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.75 and a current ratio of 1.57.
Legacy Housing (NASDAQ:LEGH) last released its earnings results on Friday, November 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.07). The business had revenue of $41.94 million during the quarter, compared to analysts’ expectations of $44.22 million. Legacy Housing had a net margin of 15.45% and a return on equity of 12.12%. As a group, analysts expect that Legacy Housing Corp will post 1.13 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the company. Lake Street Capital began coverage on Legacy Housing in a report on Tuesday, September 17th. They issued a “buy” rating on the stock. B. Riley assumed coverage on Legacy Housing in a report on Friday, November 15th. They set a “buy” rating and a $18.00 target price for the company. Zacks Investment Research lowered Legacy Housing from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Finally, ValuEngine cut Legacy Housing from a “hold” rating to a “sell” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Legacy Housing presently has an average rating of “Hold” and a consensus target price of $16.00.
A number of large investors have recently bought and sold shares of LEGH. Russell Investments Group Ltd. raised its position in Legacy Housing by 203.1% during the second quarter. Russell Investments Group Ltd. now owns 574,557 shares of the company’s stock valued at $7,153,000 after buying an additional 384,980 shares during the period. Boston Partners boosted its position in Legacy Housing by 166.4% during the 2nd quarter. Boston Partners now owns 203,258 shares of the company’s stock worth $2,531,000 after acquiring an additional 126,958 shares during the period. Sterling Capital Management LLC purchased a new position in Legacy Housing during the 2nd quarter valued at about $1,122,000. BlackRock Inc. grew its stake in Legacy Housing by 31.4% during the 2nd quarter. BlackRock Inc. now owns 266,888 shares of the company’s stock valued at $3,322,000 after acquiring an additional 63,750 shares in the last quarter. Finally, Rock Creek Group LP acquired a new position in shares of Legacy Housing in the 2nd quarter valued at about $755,000. 16.60% of the stock is currently owned by hedge funds and other institutional investors.
About Legacy Housing
Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses primarily in the southern United States. The company manufactures and provides for the transport of mobile homes; and offers wholesale financing to dealers and mobile home parks, as well as a range of homes, including 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms.
Further Reading: Growth Stocks
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