Truist Financial Corp Trims Stake in Legacy Housing Co. (NASDAQ:LEGH)

Truist Financial Corp lowered its holdings in Legacy Housing Co. (NASDAQ:LEGHGet Rating) by 78.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,329 shares of the company’s stock after selling 166,598 shares during the quarter. Truist Financial Corp’s holdings in Legacy Housing were worth $777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its stake in shares of Legacy Housing by 102.5% in the second quarter. BNP Paribas Arbitrage SA now owns 2,703 shares of the company’s stock valued at $35,000 after buying an additional 1,368 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Legacy Housing by 64.3% in the second quarter. Lazard Asset Management LLC now owns 6,205 shares of the company’s stock valued at $80,000 after buying an additional 2,428 shares in the last quarter. Northern Trust Corp grew its stake in shares of Legacy Housing by 5.4% in the second quarter. Northern Trust Corp now owns 76,943 shares of the company’s stock valued at $1,004,000 after buying an additional 3,942 shares in the last quarter. State Street Corp grew its stake in shares of Legacy Housing by 3.2% in the first quarter. State Street Corp now owns 142,404 shares of the company’s stock valued at $3,056,000 after buying an additional 4,413 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Legacy Housing by 28.1% during the 1st quarter. American Century Companies Inc. now owns 24,437 shares of the company’s stock worth $524,000 after purchasing an additional 5,363 shares in the last quarter. Hedge funds and other institutional investors own 21.57% of the company’s stock.

Legacy Housing Stock Performance

Legacy Housing stock opened at $19.44 on Friday. Legacy Housing Co. has a fifty-two week low of $11.96 and a fifty-two week high of $27.79. The company has a market capitalization of $474.45 million, a P/E ratio of 7.84 and a beta of 0.78. The stock has a 50-day simple moving average of $18.35 and a 200-day simple moving average of $17.06.

Legacy Housing (NASDAQ:LEGHGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $57.33 million during the quarter, compared to the consensus estimate of $54.42 million. Legacy Housing had a return on equity of 18.33% and a net margin of 26.40%. As a group, analysts forecast that Legacy Housing Co. will post 2.46 earnings per share for the current year.

Insider Buying and Selling at Legacy Housing

In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 17,907 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $18.84, for a total transaction of $337,367.88. Following the completion of the sale, the chairman now directly owns 1,685,679 shares of the company’s stock, valued at approximately $31,758,192.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 98,494 shares of company stock valued at $1,762,486 in the last ninety days. Insiders own 38.40% of the company’s stock.

Analyst Ratings Changes

Separately, Lake Street Capital boosted their target price on Legacy Housing from $34.00 to $36.00 in a research note on Monday, September 26th.

About Legacy Housing

(Get Rating)

Legacy Housing Corp. engages in the selling, building, and financing manufactured homes and tiny houses that are distributed through a network of independent retailers and company-owned stores and are sold directly to manufactured home communities. Its products include tiny homes, singlewide, doublewide, the ultimate home, oilfield/workforce, and park housing.

See Also

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Institutional Ownership by Quarter for Legacy Housing (NASDAQ:LEGH)

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