Legacy Housing (NASDAQ:LEGH) Trading Up 1.5% – Here’s What Happened

Legacy Housing Corporation (NASDAQ:LEGH) shares were up 1.5% on Friday . The company traded as high as $26.53 and last traded at $26.49. 124,451 shares changed hands during trading, an increase of 33% from the average session volume of 93,789 shares. The stock had previously closed at $26.10.

Wall Street Analysts Forecast Growth

LEGH has been the topic of a number of recent research reports. Weiss Ratings raised Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. B. Riley Financial reissued a “neutral” rating on shares of Legacy Housing in a report on Thursday, May 14th. Finally, Zacks Research raised shares of Legacy Housing from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.00.

Legacy Housing Trading Up 1.5%

The firm has a market capitalization of $629.99 million, a price-to-earnings ratio of 14.88 and a beta of 0.79. The firm has a 50 day moving average price of $25.01 and a two-hundred day moving average price of $22.46.

Legacy Housing (NASDAQ:LEGH) last posted its earnings results on Thursday, May 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $34.37 million during the quarter, compared to the consensus estimate of $38.82 million. Legacy Housing had a net margin of 26.01% and a return on equity of 8.08%. As a group, research analysts forecast that Legacy Housing Corporation will post 2.32 earnings per share for the current year.

Hedge Funds Weigh In On Legacy Housing

Several hedge funds and other institutional investors have recently made changes to their positions in LEGH. Quarry LP acquired a new stake in Legacy Housing in the 3rd quarter valued at $26,000. Tower Research Capital LLC TRC lifted its stake in shares of Legacy Housing by 414.5% during the second 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. State of Alaska Department of Revenue lifted its stake in shares of Legacy Housing by 179.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,470 shares of the company’s stock worth $67,000 after purchasing an additional 2,229 shares in the last quarter. Strs Ohio purchased a new stake in shares of Legacy Housing in the first quarter worth about $124,000. Finally, Aquatic Capital Management LLC boosted its position in shares of Legacy Housing by 2,156.0% in the third quarter. Aquatic Capital Management LLC now owns 4,873 shares of the company’s stock worth $134,000 after buying an additional 4,657 shares during the period. Institutional investors and hedge funds own 89.35% of the company’s stock.

Legacy Housing Company Profile

Legacy Housing Corp. designs, builds and markets factory-built homes, focusing on both single-section and multi-section manufactured housing products. The company offers a range of floor plans and customization options, including energy-efficient features and accessible design elements. Its core business activities encompass in-house design, procurement of building materials, plant-based construction and nationwide distribution through an independent network of retail partners.

Founded in 2009 and headquartered in Dallas, Texas, Legacy Housing operates in key regions across the southeastern and southwestern United States.