Cornercap Investment Counsel Inc. Makes New Investment in Legacy Housing Co. (NASDAQ:LEGH)

Cornercap Investment Counsel Inc. acquired a new position in shares of Legacy Housing Co. (NASDAQ:LEGH) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 20,260 shares of the company’s stock, valued at approximately $511,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Voss Capital LLC increased its holdings in shares of Legacy Housing by 5.0% in the 3rd quarter. Voss Capital LLC now owns 780,000 shares of the company’s stock valued at $15,140,000 after acquiring an additional 37,177 shares during the last quarter. Punch & Associates Investment Management Inc. increased its holdings in shares of Legacy Housing by 8.0% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 612,765 shares of the company’s stock valued at $11,894,000 after acquiring an additional 45,159 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Legacy Housing by 8.3% in the 2nd quarter. BlackRock Inc. now owns 475,456 shares of the company’s stock valued at $11,026,000 after acquiring an additional 36,501 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Legacy Housing by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 460,417 shares of the company’s stock valued at $9,880,000 after acquiring an additional 39,993 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Legacy Housing by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 376,075 shares of the company’s stock valued at $7,300,000 after acquiring an additional 1,429 shares during the last quarter. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wedbush lowered their price target on Legacy Housing from $31.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, March 19th.

Legacy Housing Price Performance

Shares of LEGH opened at $19.92 on Wednesday. The company has a market cap of $486.05 million, a P/E ratio of 9.18 and a beta of 0.94. The stock has a fifty day moving average price of $23.37 and a 200 day moving average price of $22.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.00. Legacy Housing Co. has a 12 month low of $17.67 and a 12 month high of $26.50.

Legacy Housing (NASDAQ:LEGH) last issued its quarterly earnings data on Friday, March 15th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.49). The company had revenue of $33.71 million for the quarter, compared to the consensus estimate of $60.66 million. Legacy Housing had a return on equity of 12.99% and a net margin of 28.79%. On average, research analysts forecast that Legacy Housing Co. will post 1.72 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Curtis Drew Hodgson sold 16,400 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $23.99, for a total transaction of $393,436.00. Following the completion of the transaction, the chairman now directly owns 820,573 shares in the company, valued at approximately $19,685,546.27. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Douglas M. Shipley sold 33,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $24.40, for a total transaction of $805,200.00. Following the sale, the insider now directly owns 2,886,978 shares of the company’s stock, valued at $70,442,263.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Curtis Drew Hodgson sold 16,400 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $23.99, for a total value of $393,436.00. Following the sale, the chairman now directly owns 820,573 shares in the company, valued at $19,685,546.27. The disclosure for this sale can be found here. Insiders sold a total of 164,975 shares of company stock worth $4,058,021 in the last three months. 32.20% of the stock is owned by insiders.

Legacy Housing Profile

Legacy Housing Corporation engages in the building, sale, and financing of manufactured homes and tiny houses primarily in the southern United States. It manufactures and provides for the transport of mobile homes, including 1 to 5 bedrooms with 1 to 3 1/2 bathrooms; and provides wholesale financing to dealers and mobile home parks, as well as retail financing to consumers.