Legacy Housing Co. (NASDAQ:LEGH) Major Shareholder Douglas M. Shipley Sells 15,598 Shares

Legacy Housing Co. (NASDAQ:LEGH) major shareholder Douglas M. Shipley sold 15,598 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $20.67, for a total transaction of $322,410.66. Following the sale, the insider now directly owns 2,938,785 shares of the company’s stock, valued at $60,744,685.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Legacy Housing Stock Performance

Shares of Legacy Housing stock traded up $0.12 during trading hours on Wednesday, hitting $20.91. The company’s stock had a trading volume of 8,448 shares, compared to its average volume of 44,044. The company has a market cap of $510.04 million, a PE ratio of 7.85 and a beta of 0.86. The business has a 50 day moving average price of $22.46 and a two-hundred day moving average price of $21.78. Legacy Housing Co. has a 12-month low of $16.10 and a 12-month high of $25.30.

Legacy Housing (NASDAQ:LEGH) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). Legacy Housing had a return on equity of 16.90% and a net margin of 27.57%. The business had revenue of $52.64 million during the quarter, compared to analysts’ expectations of $56.24 million. As a group, research analysts anticipate that Legacy Housing Co. will post 2.47 earnings per share for the current year.

Hedge Funds Weigh In On Legacy Housing

Institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its position in shares of Legacy Housing by 28.1% during the first quarter. American Century Companies Inc. now owns 24,437 shares of the company’s stock valued at $524,000 after purchasing an additional 5,363 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Legacy Housing by 30.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 132,555 shares of the company’s stock valued at $2,845,000 after buying an additional 31,109 shares in the last quarter. Vanguard Group Inc. increased its stake in Legacy Housing by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 460,417 shares of the company’s stock worth $9,880,000 after acquiring an additional 39,993 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Legacy Housing by 44.8% during the 1st quarter. Renaissance Technologies LLC now owns 34,600 shares of the company’s stock worth $743,000 after acquiring an additional 10,713 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Legacy Housing by 3.2% during the 1st quarter. State Street Corp now owns 142,404 shares of the company’s stock valued at $3,056,000 after acquiring an additional 4,413 shares during the last quarter. 27.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wedbush started coverage on Legacy Housing in a research report on Tuesday, August 22nd. They set an “outperform” rating and a $30.00 target price on the stock.

Legacy Housing Company Profile

Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses primarily in the southern United States. The company manufactures and provides for the transport of mobile homes; and provides wholesale financing to dealers and mobile home parks, as well as retail financing to consumers.