Insider Selling: Legacy Housing Co. (NASDAQ:LEGH) Chairman Sells $371,221.51 in Stock

Legacy Housing Co. (NASDAQ:LEGH) Chairman Curtis Drew Hodgson sold 13,387 shares of Legacy Housing stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $27.73, for a total transaction of $371,221.51. Following the sale, the chairman now directly owns 684,486 shares of the company’s stock, valued at approximately $18,980,796.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 transaction of $451,184.00.

Legacy Housing Stock Performance

Shares of LEGH stock opened at $26.51 on Friday. The firm has a market cap of $644.62 million, a price-to-earnings ratio of 12.50 and a beta of 1.06. The company’s 50 day moving average is $25.33 and its 200 day moving average is $23.63. The company has a quick ratio of 2.88, a current ratio of 3.76 and a debt-to-equity ratio of 0.03. Legacy Housing Co. has a 52-week low of $17.67 and a 52-week high of $29.31.

Legacy Housing (NASDAQ:LEGH) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $42.50 million for the quarter, compared to analyst estimates of $46.35 million. Legacy Housing had a net margin of 29.70% and a return on equity of 12.33%. During the same period last year, the company posted $0.60 earnings per share. On average, sell-side analysts anticipate that Legacy Housing Co. will post 2.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Legacy Housing

Several institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new position in Legacy Housing in the second quarter worth $397,000. Progeny 3 Inc. purchased a new position in Legacy Housing in the second quarter worth $1,019,000. Marshall Wace LLP purchased a new position in Legacy Housing in the second quarter worth $375,000. Renaissance Technologies LLC grew its holdings in Legacy Housing by 161.0% in the second quarter. Renaissance Technologies LLC now owns 40,200 shares of the company’s stock worth $922,000 after purchasing an additional 24,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Legacy Housing by 17.1% in the second quarter. Dimensional Fund Advisors LP now owns 609,217 shares of the company’s stock worth $13,975,000 after purchasing an additional 88,921 shares during the last quarter. 89.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. B. Riley reaffirmed a “neutral” rating and set a $29.00 price target (up previously from $25.00) on shares of Legacy Housing in a research note on Monday, August 12th. Wedbush reaffirmed an “outperform” rating and set a $29.00 price target on shares of Legacy Housing in a research note on Friday, August 9th. Finally, CJS Securities started coverage on shares of Legacy Housing in a report on Friday, June 7th. They set an “outperform” rating and a $33.00 price objective on the 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.