Legacy Housing Corporation $LEGH Stock: Crown Wealth Group LLC Reduces Holdings

Crown Wealth Group LLC lowered its stake in Legacy Housing Corporation (NASDAQ:LEGH) by 73.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,737 shares of the company’s stock after selling 79,263 shares during the quarter. Crown Wealth Group LLC’s holdings in Legacy Housing were worth $824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Legal & General Group Plc bought a new stake in shares of Legacy Housing during the second quarter worth $149,000. State of Wyoming acquired a new stake in shares of Legacy Housing during the second quarter worth $169,000. Lee Financial Co acquired a new stake in shares of Legacy Housing during the third quarter worth $218,000. GSA Capital Partners LLP bought a new stake in Legacy Housing in the 2nd quarter valued at $204,000. Finally, Deutsche Bank AG bought a new stake in Legacy Housing in the 2nd quarter valued at $230,000. Institutional investors and hedge funds own 89.35% of the company’s stock.

Legacy Housing Stock Performance

Legacy Housing stock traded down $0.80 during midday trading on Monday, reaching $26.59. The stock had a trading volume of 74,229 shares, compared to its average volume of 97,352. The stock has a market capitalization of $632.31 million, a P/E ratio of 12.25 and a beta of 0.75. The firm’s fifty day simple moving average is $28.31 and its 200-day simple moving average is $25.51. Legacy Housing Corporation has a 1-year low of $18.28 and a 1-year high of $31.34.

Legacy Housing (NASDAQ:LEGH) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.27. The firm had revenue of $66.35 million during the quarter, compared to the consensus estimate of $64.08 million. Legacy Housing had a return on equity of 9.53% and a net margin of 28.56%. On average, sell-side analysts anticipate that Legacy Housing Corporation will post 2.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LEGH. Wall Street Zen raised shares of Legacy Housing from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Zacks Research downgraded Legacy Housing from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Legacy Housing in a research note on Tuesday, October 6th. Four equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Legacy Housing currently has an average rating of “Hold” and a consensus target price of $21.00.

Legacy Housing Profile

Legacy Housing Corporation (NASDAQ:LEGH) is a manufactured housing company that designs, builds and sells factory-built homes in the United States. Its products include single-section and multi-section manufactured homes intended for residential use, as well as homes serving housing developers, independent retailers and other institutional customers.

The company distributes its homes through a combination of wholesale channels, company-owned retail locations and independent dealers. Legacy Housing also provides financing solutions for certain homebuyers and customers and has been involved in the development and operation of manufactured housing communities.