Bard Associates Inc. Invests $4.72 Million in Legacy Housing Corporation $LEGH

Bard Associates Inc. bought a new stake in Legacy Housing Corporation (NASDAQ:LEGH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 179,679 shares of the company’s stock, valued at approximately $4,720,000. Legacy Housing comprises approximately 1.0% of Bard Associates Inc.’s investment portfolio, making the stock its 29th largest position.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Legacy Housing during the 2nd quarter valued at $16,714,000. Rock Creek Group LP increased its stake in shares of Legacy Housing by 620.6% during the 4th quarter. Rock Creek Group LP now owns 250,000 shares of the company’s stock worth $4,880,000 after purchasing an additional 215,307 shares during the last quarter. Yacktman Asset Management LP raised its holdings in shares of Legacy Housing by 192.8% in the 4th quarter. Yacktman Asset Management LP now owns 175,675 shares of the company’s stock worth $3,429,000 after purchasing an additional 115,675 shares during the period. Gabelli Funds LLC lifted its stake in Legacy Housing by 192.6% in the fourth quarter. Gabelli Funds LLC now owns 143,341 shares of the company’s stock valued at $2,798,000 after purchasing an additional 94,344 shares during the last quarter. Finally, Advisory Research Inc. grew its holdings in Legacy Housing by 11.0% during the fourth quarter. Advisory Research Inc. now owns 730,944 shares of the company’s stock valued at $14,268,000 after purchasing an additional 72,573 shares during the period. 89.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LEGH shares. B. Riley Financial restated a “neutral” rating on shares of Legacy Housing in a research note on Thursday, May 14th. Zacks Research lowered shares of Legacy Housing from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Legacy Housing from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Finally, Weiss Ratings upgraded shares of Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Legacy Housing Stock Up 0.2%

Shares of LEGH opened at $28.63 on Friday. The stock has a market capitalization of $680.82 million, a P/E ratio of 13.19 and a beta of 0.78. Legacy Housing Corporation has a twelve month low of $18.28 and a twelve month high of $31.34. The firm has a fifty day simple moving average of $26.70 and a two-hundred day simple moving average of $23.38.

Legacy Housing (NASDAQ:LEGH) last posted its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.27. Legacy Housing had a net margin of 28.56% and a return on equity of 9.53%. The company had revenue of $66.35 million during the quarter, compared to analyst estimates of $64.08 million. Sell-side analysts expect that Legacy Housing Corporation will post 2.32 EPS for the current fiscal year.

Legacy Housing Profile

Legacy Housing Corp. designs, builds and markets factory-built homes, focusing on both single-section and multi-section manufactured housing products. The company offers a range of floor plans and customization options, including energy-efficient features and accessible design elements. Its core business activities encompass in-house design, procurement of building materials, plant-based construction and nationwide distribution through an independent network of retail partners.

Founded in 2009 and headquartered in Dallas, Texas, Legacy Housing operates in key regions across the southeastern and southwestern United States.