Legacy Housing (NASDAQ:LEGH) Hits New 12-Month Low – What’s Next?

Shares of Legacy Housing Co. (NASDAQ:LEGH) hit a new 52-week low during trading on Thursday . The company traded as low as $17.00 and last traded at $24.02, with a volume of 497 shares traded. The stock had previously closed at $25.24.

Legacy Housing Stock Performance

The company has a market cap of $584.65 million, a P/E ratio of 11.17 and a beta of 0.91. The stock has a 50-day simple moving average of $25.79 and a 200 day simple moving average of $25.74.

Legacy Housing (NASDAQ:LEGH) last issued its 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. The firm had revenue of $54.19 million during the quarter, compared to analysts’ expectations of $44.59 million. Legacy Housing had a return on equity of 11.85% and a net margin of 33.11%.

Insider Activity at Legacy Housing

In other Legacy Housing news, Director Curtis Drew Hodgson sold 10,468 shares of Legacy Housing stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $23.65, for a total transaction of $247,568.20. Following the sale, the director now directly owns 394,254 shares of the company’s stock, valued at approximately $9,324,107.10. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 30.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Legacy Housing

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Legacy Housing by 17.8% in the third quarter. Geode Capital Management LLC now owns 269,325 shares of the company’s stock valued at $7,367,000 after acquiring an additional 40,729 shares during the period. Barclays PLC boosted its stake in shares of Legacy Housing by 294.1% in the 3rd quarter. Barclays PLC now owns 17,338 shares of the company’s stock valued at $474,000 after purchasing an additional 12,939 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Legacy Housing by 193.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 91,453 shares of the company’s stock worth $2,501,000 after purchasing an additional 60,292 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Legacy Housing by 17.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,600 shares of the company’s stock worth $153,000 after purchasing an additional 848 shares in the last quarter. Finally, State Street Corp lifted its holdings in Legacy Housing by 5.9% during the 3rd quarter. State Street Corp now owns 207,972 shares of the company’s stock valued at $5,688,000 after purchasing an additional 11,599 shares during the last quarter. Institutional investors 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.