Legacy Housing Corporation $LEGH Shares Sold by Redmond Asset Management LLC

Redmond Asset Management LLC reduced its stake in shares of Legacy Housing Corporation (NASDAQ:LEGH) by 69.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,023 shares of the company’s stock after selling 24,732 shares during the period. Redmond Asset Management LLC’s holdings in Legacy Housing were worth $316,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Sterling Capital Management LLC raised its holdings in shares of Legacy Housing by 5,197.8% during the third quarter. Sterling Capital Management LLC now owns 9,536 shares of the company’s stock worth $273,000 after acquiring an additional 9,356 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in Legacy Housing in the third quarter worth approximately $77,000. Lee Financial Co bought a new stake in Legacy Housing in the third quarter worth approximately $218,000. Punch & Associates Investment Management Inc. acquired a new position in shares of Legacy Housing during the 2nd quarter worth $11,235,000. Finally, Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of Legacy Housing during the 2nd quarter worth $11,937,745. 89.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LEGH has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Legacy Housing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 21st. Zacks Research lowered shares of Legacy Housing from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of Legacy Housing from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Legacy Housing Stock Performance

Shares of NASDAQ LEGH opened at $28.93 on Friday. The firm has a market cap of $688.04 million, a price-to-earnings ratio of 13.33 and a beta of 0.75. The business’s 50-day simple moving average is $28.16 and its 200-day simple moving average is $24.41. Legacy Housing Corporation has a 52 week low of $18.28 and a 52 week high of $31.34.

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

Legacy Housing Company Profile

Legacy Housing Corporation is a manufacturer and seller of manufactured homes. The company produces homes in a range of sizes and floor plans, including single-section and multi-section models designed for residential use. Its products are marketed under the Legacy Housing brand and are intended to provide an alternative to traditionally built housing.

The company sells manufactured homes through a combination of retail locations, independent dealers and wholesale channels. Legacy Housing also provides financing options to qualified homebuyers and dealers, supporting the purchase of its homes.