Punch & Associates Investment Management Inc. Buys New Position in Legacy Housing Corporation $LEGH

Punch & Associates Investment Management Inc. bought a new stake in Legacy Housing Corporation (NASDAQ:LEGH) in the 2nd quarter, Holdings Channel reports. The fund bought 427,665 shares of the company’s stock, valued at approximately $11,235,000.

A number of other large investors have also added to or reduced their stakes in LEGH. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Legacy Housing during the 2nd quarter worth approximately $11,937,745,000. Bank of America Corp DE acquired a new position in shares of Legacy Housing in the 2nd quarter valued at approximately $288,000. J. Goldman & Co LP purchased a new position in shares of Legacy Housing during the 2nd quarter valued at approximately $582,000. Legal & General Group Plc acquired a new stake in shares of Legacy Housing during the second quarter worth approximately $149,000. Finally, Bard Associates Inc. acquired a new stake in shares of Legacy Housing during the second quarter worth approximately $4,720,000. 89.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LEGH shares. Wall Street Zen lowered shares of Legacy Housing from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. B. Riley Financial reiterated a “neutral” rating on shares of Legacy Housing in a research note on Thursday, May 14th. Weiss Ratings raised Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Finally, Zacks Research lowered Legacy Housing from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $21.00.

Legacy Housing Price Performance

Shares of Legacy Housing stock opened at $28.55 on Thursday. The business’s fifty day moving average price is $26.93 and its two-hundred day moving average price is $23.56. The company has a market capitalization of $678.98 million, a P/E ratio of 13.16 and a beta of 0.78. Legacy Housing Corporation has a 1-year low of $18.28 and a 1-year high of $31.34.

Legacy Housing (NASDAQ:LEGH) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.27. Legacy Housing had a net margin of 28.56% and a return on equity of 9.53%. The business had revenue of $66.35 million for the quarter, compared to analyst estimates of $64.08 million. On average, research analysts expect that Legacy Housing Corporation will post 2.32 earnings per share for the current fiscal year.

Legacy Housing 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.