Legacy Housing (NASDAQ:LEGH) Sees Strong Trading Volume – Here’s What Happened

Shares of Legacy Housing Corporation (NASDAQ:LEGH) saw an uptick in trading volume on Friday . Approximately 130,395 shares changed hands during trading, an increase of 27% from the previous session’s volume of 102,348 shares.The stock last traded at $29.77 and had previously closed at $28.90.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Zacks Research lowered Legacy Housing from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Legacy Housing in a research report on Thursday, May 14th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.00.

Legacy Housing Stock Performance

The stock has a market capitalization of $699.04 million, a P/E ratio of 13.60 and a beta of 0.78. The stock has a 50-day simple moving average of $25.68 and a 200 day simple moving average of $22.84.

Legacy Housing (NASDAQ:LEGH) last released its earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.72 by $0.27. Legacy Housing had a return on equity of 9.67% and a net margin of 28.56%.The company had revenue of $66.35 million during the quarter, compared to analysts’ expectations of $64.08 million. Equities analysts predict that Legacy Housing Corporation will post 2.32 earnings per share for the current year.

Institutional Trading of Legacy Housing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rock Creek Group LP lifted its stake in shares of Legacy Housing by 620.6% in the 4th quarter. Rock Creek Group LP now owns 250,000 shares of the company’s stock valued at $4,880,000 after purchasing an additional 215,307 shares during the period. Yacktman Asset Management LP boosted its position in shares of Legacy Housing by 192.8% in the 4th quarter. Yacktman Asset Management LP now owns 175,675 shares of the company’s stock worth $3,429,000 after purchasing an additional 115,675 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Legacy Housing by 192.6% during the fourth quarter. Gabelli Funds LLC now owns 143,341 shares of the company’s stock worth $2,798,000 after purchasing an additional 94,344 shares during the period. Advisory Research Inc. grew its stake in shares of Legacy Housing by 11.0% during the fourth quarter. Advisory Research Inc. now owns 730,944 shares of the company’s stock worth $14,268,000 after purchasing an additional 72,573 shares during the period. Finally, Rothschild Wealth LLC bought a new stake in Legacy Housing in the fourth quarter valued at about $1,399,000. 89.35% of the stock is owned by institutional investors.

About Legacy Housing

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.