Legacy Housing (NASDAQ:LEGH) Announces Quarterly Earnings Results

Legacy Housing (NASDAQ:LEGH) issued its quarterly earnings data on Friday. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.22), FiscalAI reports. Legacy Housing had a return on equity of 11.11% and a net margin of 30.00%.The company had revenue of $40.48 million for the quarter, compared to analyst estimates of $45.53 million.

Legacy Housing Trading Down 1.8%

NASDAQ LEGH opened at $22.22 on Friday. The company has a market cap of $530.39 million, a price-to-earnings ratio of 11.39 and a beta of 0.80. The company has a 50 day moving average of $25.19 and a 200-day moving average of $24.27. Legacy Housing has a 1-year low of $20.85 and a 1-year high of $29.45.

Institutional Trading of Legacy Housing

A number of institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in shares of Legacy Housing by 414.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock worth $55,000 after purchasing an additional 1,940 shares in the last quarter. Strs Ohio bought a new position in Legacy Housing in the 1st quarter valued at about $124,000. State of Wyoming raised its position in shares of Legacy Housing by 99.5% in the 2nd quarter. State of Wyoming now owns 8,946 shares of the company’s stock valued at $203,000 after buying an additional 4,462 shares in the last quarter. Legal & General Group Plc raised its position in shares of Legacy Housing by 15.7% in the 2nd quarter. Legal & General Group Plc now owns 8,958 shares of the company’s stock valued at $203,000 after buying an additional 1,216 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Legacy Housing during the 2nd quarter worth approximately $296,000. 89.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Legacy Housing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Legacy Housing currently has a consensus rating of “Hold” and an average price target of $26.00.

About Legacy Housing

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.