Legacy Housing (NASDAQ:LEGH) Hits New 1-Year Low – Time to Sell?

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

Legacy Housing Stock Performance

The stock has a market capitalization of $584.65 million, a PE ratio of 11.17 and a beta of 0.91. The firm has a 50 day moving average of $25.79 and a 200-day moving average of $25.74.

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

Insider Activity at Legacy Housing

In related news, Director Curtis Drew Hodgson sold 10,468 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $23.65, for a total value of $247,568.20. Following the completion of the sale, the director now directly owns 394,254 shares in the company, valued at approximately $9,324,107.10. The trade was a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 30.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Aquatic Capital Management LLC bought a new stake in Legacy Housing during the 4th quarter valued at approximately $33,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Legacy Housing in the fourth quarter worth $49,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Legacy Housing during the third quarter worth $85,000. JPMorgan Chase & Co. raised its stake in Legacy Housing by 11.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,423 shares of the company’s stock valued at $148,000 after purchasing an additional 543 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Legacy Housing by 17.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,600 shares of the company’s stock valued at $153,000 after purchasing an additional 848 shares during the period. 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.