Legacy Housing (NASDAQ:LEGH) Given Outperform Rating at Wedbush

Legacy Housing (NASDAQ:LEGH)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research note issued to investors on Friday, Benzinga reports. They presently have a $25.00 target price on the stock. Wedbush’s price target would indicate a potential upside of 13.07% from the stock’s previous close.

Legacy Housing Stock Up 4.6 %

NASDAQ LEGH traded up $0.97 on Friday, reaching $22.11. The company had a trading volume of 79,056 shares, compared to its average volume of 68,510. The firm has a market capitalization of $539.51 million, a price-to-earnings ratio of 10.38 and a beta of 0.95. Legacy Housing has a 1-year low of $17.67 and a 1-year high of $26.50. The company’s fifty day moving average is $21.64 and its 200-day moving average is $22.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.00 and a current ratio of 2.89.

Legacy Housing (NASDAQ:LEGH) last announced its earnings results on Thursday, May 9th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.36 by $0.24. The business had revenue of $43.24 million during the quarter, compared to the consensus estimate of $38.07 million. Legacy Housing had a net margin of 28.79% and a return on equity of 12.99%. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, research analysts forecast that Legacy Housing will post 1.72 earnings per share for the current fiscal year.

Insider Transactions at Legacy Housing

In other news, Chairman Curtis Drew Hodgson sold 17,400 shares of Legacy Housing stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.57, for a total value of $444,918.00. Following the completion of the sale, the chairman now owns 784,773 shares in the company, valued at approximately $20,066,645.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kenneth E. Shipley sold 34,000 shares of Legacy Housing stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $24.40, for a total transaction of $829,600.00. Following the completion of the sale, the executive vice president now owns 2,892,610 shares in the company, valued at approximately $70,579,684. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Curtis Drew Hodgson sold 17,400 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.57, for a total value of $444,918.00. Following the sale, the chairman now owns 784,773 shares in the company, valued at approximately $20,066,645.61. The disclosure for this sale can be found here. Insiders sold 131,175 shares of company stock worth $3,259,339 over the last ninety days. 32.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Legacy Housing

Several institutional investors and hedge funds have recently bought and sold shares of LEGH. AWH Capital L.P. lifted its position in shares of Legacy Housing by 71.3% in the 3rd quarter. AWH Capital L.P. now owns 225,000 shares of the company’s stock worth $4,367,000 after purchasing an additional 93,630 shares during the period. Cerity Partners LLC purchased a new position in Legacy Housing during the 4th quarter valued at about $1,872,000. ABS Direct Equity Fund LLC purchased a new position in Legacy Housing during the 4th quarter valued at about $1,261,000. Voss Capital LLC lifted its position in Legacy Housing by 6.4% during the 4th quarter. Voss Capital LLC now owns 830,000 shares of the company’s stock valued at $20,933,000 after acquiring an additional 50,000 shares during the period. Finally, Premier Path Wealth Partners LLC purchased a new position in Legacy Housing during the 4th quarter valued at about $1,220,000. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Legacy Housing Company 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.