Legacy Housing (NASDAQ:LEGH) Shares Down 5% – Here’s Why

Shares of Legacy Housing Co. (NASDAQ:LEGH) fell 5% during trading on Tuesday . The stock traded as low as $25.80 and last traded at $26.41. 54,283 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 77,517 shares. The stock had previously closed at $27.79.

Legacy Housing Price Performance

The company has a fifty day moving average of $25.18 and a 200 day moving average of $25.98. The firm has a market capitalization of $646.28 million, a P/E ratio of 12.33 and a beta of 1.09.

Insider Activity at Legacy Housing

In related news, Chairman Curtis Drew Hodgson sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $25.60, for a total value of $153,600.00. Following the sale, the chairman now directly owns 508,522 shares in the company, valued at $13,018,163.20. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 112,152 shares of company stock worth $2,833,932 over the last ninety days. Insiders own 30.60% of the company’s stock.

Hedge Funds Weigh In On Legacy Housing

Several institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC lifted its stake in Legacy Housing by 139.1% in the fourth quarter. Squarepoint Ops LLC now owns 33,604 shares of the company’s stock valued at $829,000 after buying an additional 19,550 shares during the period. CastleKnight Management LP lifted its stake in Legacy Housing by 48.9% in the fourth quarter. CastleKnight Management LP now owns 53,300 shares of the company’s stock valued at $1,315,000 after buying an additional 17,500 shares during the period. Bank of America Corp DE lifted its stake in Legacy Housing by 46.0% in the fourth quarter. Bank of America Corp DE now owns 14,747 shares of the company’s stock valued at $364,000 after buying an additional 4,648 shares during the period. BNP Paribas Financial Markets lifted its stake in Legacy Housing by 42.6% in the fourth quarter. BNP Paribas Financial Markets now owns 7,985 shares of the company’s stock valued at $197,000 after buying an additional 2,385 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Legacy Housing by 2.8% in the fourth quarter. Ameriprise Financial Inc. now owns 427,619 shares of the company’s stock valued at $10,554,000 after buying an additional 11,612 shares during the period. 89.35% of the stock is owned by institutional investors and hedge funds.

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.