Insider Selling: Legacy Housing Co. (NASDAQ:LEGH) Chairman Sells 11,442 Shares of Stock

Legacy Housing Co. (NASDAQ:LEGH) Chairman Curtis Drew Hodgson sold 11,442 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.01, for a total value of $320,490.42. Following the sale, the chairman now directly owns 653,699 shares of the company’s stock, valued at $18,310,108.99. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Curtis Drew Hodgson also recently made the following trade(s):

• On Monday, September 9th, Curtis Drew Hodgson sold 17,300 shares of Legacy Housing stock. The stock was sold at an average price of $25.65, for a total value of $443,745.00.
• On Monday, August 26th, Curtis Drew Hodgson sold 13,387 shares of Legacy Housing stock. The shares were sold at an average price of $27.73, for a total value of $371,221.51.
• On Monday, August 19th, Curtis Drew Hodgson sold 17,300 shares of Legacy Housing stock. The shares were sold at an average price of $26.08, for a total value of $451,184.00.

Legacy Housing Stock Down 1.4 %

Shares of NASDAQ LEGH traded down $0.39 during midday trading on Monday, hitting $27.84. 61,350 shares of the company’s stock were exchanged, compared to its average volume of 67,377. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 3.41. Legacy Housing Co. has a twelve month low of $17.67 and a twelve month high of $29.31. The company has a market cap of $676.96 million, a PE ratio of 13.13 and a beta of 1.08. The firm’s fifty day simple moving average is $26.33 and its 200-day simple moving average is $23.73.

Legacy Housing (NASDAQ:LEGH) last issued its earnings results on Thursday, August 8th. The company reported $0.65 earnings per share for the quarter, topping 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 business 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 EPS. Research analysts predict that Legacy Housing Co. will post 2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LEGH. CJS Securities began coverage on Legacy Housing in a research note on Friday, June 7th. They issued an “outperform” rating and a $33.00 price objective for the company. B. Riley reiterated a “neutral” rating and issued a $29.00 price objective (up previously from $25.00) on shares of Legacy Housing in a research note on Monday, August 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $29.00 price objective on shares of Legacy Housing in a research note on Friday, August 9th.

Institutional Investors Weigh In On Legacy Housing

Several hedge funds and other institutional investors have recently made changes to their positions in LEGH. Squarepoint Ops LLC acquired a new position in Legacy Housing during the second quarter worth approximately $397,000. Progeny 3 Inc. acquired a new position in Legacy Housing during the second quarter worth approximately $1,019,000. Marshall Wace LLP acquired a new position in Legacy Housing during the second quarter worth approximately $375,000. Renaissance Technologies LLC increased its position in Legacy Housing by 161.0% during the second quarter. Renaissance Technologies LLC now owns 40,200 shares of the company’s stock worth $922,000 after buying an additional 24,800 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Legacy Housing by 17.1% during the second quarter. Dimensional Fund Advisors LP now owns 609,217 shares of the company’s stock worth $13,975,000 after buying an additional 88,921 shares during the period. Institutional investors and hedge funds 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.