Legacy Housing (NASDAQ:LEGH) Shares Down 2.3% – Should You Sell?

Legacy Housing Co. (NASDAQ:LEGH)’s stock price traded down 2.3% on Friday . The company traded as low as $25.11 and last traded at $24.84. 6,460 shares were traded during mid-day trading, a decline of 91% from the average session volume of 71,220 shares. The stock had previously closed at $25.41.

Legacy Housing Price Performance

The firm has a market capitalization of $627.87 million, a P/E ratio of 11.98 and a beta of 1.16. The firm’s fifty day moving average price is $25.33 and its 200-day moving average price is $25.87.

Legacy Housing (NASDAQ:LEGH) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. Legacy Housing had a net margin of 33.11% and a return on equity of 11.85%. The firm had revenue of $54.19 million for the quarter, compared to analysts’ expectations of $44.59 million.

Insider Buying and Selling

In related news, Director Curtis Drew Hodgson sold 17,300 shares of Legacy Housing stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $25.20, for a total value of $435,960.00. Following the transaction, the director now owns 439,322 shares of the company’s stock, valued at approximately $11,070,914.40. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 54,252 shares of company stock worth $1,332,489. Corporate insiders own 30.60% of the company’s stock.

Institutional Trading of Legacy Housing

Several hedge funds and other institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC increased its stake in Legacy Housing by 139.1% in the 4th 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 raised its holdings in shares of Legacy Housing by 48.9% during the fourth quarter. CastleKnight Management LP now owns 53,300 shares of the company’s stock worth $1,315,000 after acquiring an additional 17,500 shares in the last quarter. Bank of America Corp DE grew 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 purchasing an additional 4,648 shares in the last quarter. BNP Paribas Financial Markets grew 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 purchasing an additional 2,385 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Legacy Housing by 2.8% in the 4th quarter. Ameriprise Financial Inc. now owns 427,619 shares of the company’s stock worth $10,554,000 after purchasing an additional 11,612 shares during the last quarter. 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.