Insider Selling: Legacy Housing Co. (NASDAQ:LEGH) Chairman Sells $320,490.42 in Stock

Legacy Housing Co. (NASDAQ:LEGH) Chairman Curtis Drew Hodgson sold 11,442 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.01, for a total value of $320,490.42. Following the completion of the transaction, the chairman now directly owns 653,699 shares in the company, valued at approximately $18,310,108.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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 shares were 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 Trading Down 0.7 %

LEGH opened at $27.97 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 3.41. The company’s 50 day simple moving average is $26.54 and its two-hundred day simple moving average is $23.78. Legacy Housing Co. has a 1-year low of $17.67 and a 1-year high of $29.31. The firm has a market capitalization of $680.12 million, a price-to-earnings ratio of 13.19 and a beta of 1.08.

Legacy Housing (NASDAQ:LEGH) last released its earnings results on Thursday, August 8th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Legacy Housing had a net margin of 32.17% and a return on equity of 12.25%. The business had revenue of $42.50 million for the quarter, compared to analyst estimates of $46.35 million. During the same period last year, the company posted $0.60 EPS. Analysts expect that Legacy Housing Co. will post 2.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LEGH has been the subject of several analyst reports. CJS Securities started coverage on Legacy Housing in a report on Friday, June 7th. They set an “outperform” rating and a $33.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $29.00 target price on shares of Legacy Housing in a research note on Friday, August 9th. Finally, B. Riley reiterated a “neutral” rating and set a $29.00 price objective (up previously from $25.00) on shares of Legacy Housing in a research note on Monday, August 12th.

Institutional Trading of Legacy Housing

Several institutional investors have recently made changes to their positions in LEGH. Jump Financial LLC purchased a new stake in shares of Legacy Housing during the 4th quarter valued at approximately $292,000. Gabelli Funds LLC raised its position in Legacy Housing by 3.5% in the fourth quarter. Gabelli Funds LLC now owns 47,327 shares of the company’s stock valued at $1,194,000 after purchasing an additional 1,600 shares during the period. Mill Road Capital Management LLC grew its stake in shares of Legacy Housing by 7.3% in the fourth quarter. Mill Road Capital Management LLC now owns 500,798 shares of the company’s stock worth $12,630,000 after acquiring an additional 33,998 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Legacy Housing by 79.0% in the first quarter. BNP Paribas Financial Markets now owns 5,708 shares of the company’s stock worth $123,000 after acquiring an additional 2,520 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Legacy Housing by 5.0% in the first quarter. Empowered Funds LLC now owns 36,902 shares of the company’s stock worth $794,000 after acquiring an additional 1,767 shares in the last quarter. Hedge funds and other 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.