Insider Selling: Legacy Housing Co. (NASDAQ:LEGH) Chairman Sells 17,300 Shares of Stock

Legacy Housing Co. (NASDAQ:LEGH) Chairman Curtis Drew Hodgson sold 17,300 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $27.27, for a total transaction of $471,771.00. Following the completion of the transaction, the chairman now owns 613,241 shares in the company, valued at $16,723,082.07. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Curtis Drew Hodgson also recently made the following trade(s):

• On Friday, September 27th, Curtis Drew Hodgson sold 1,311 shares of Legacy Housing stock. The shares were sold at an average price of $27.71, for a total value of $36,327.81.
• On Monday, September 23rd, Curtis Drew Hodgson sold 14,420 shares of Legacy Housing stock. The shares were sold at an average price of $27.96, for a total value of $403,183.20.
• On Monday, September 16th, Curtis Drew Hodgson sold 11,442 shares of Legacy Housing stock. The shares were sold at an average price of $28.01, for a total value of $320,490.42.
• On Monday, September 9th, Curtis Drew Hodgson sold 17,300 shares of Legacy Housing stock. The stock was sold at an average price of $25.65, for a total transaction of $443,745.00.
• On Monday, August 26th, Curtis Drew Hodgson sold 13,387 shares of Legacy Housing stock. The stock was sold at an average price of $27.73, for a total transaction of $371,221.51.
• On Monday, August 19th, Curtis Drew Hodgson sold 17,300 shares of Legacy Housing stock. The stock was sold at an average price of $26.08, for a total value of $451,184.00.

Legacy Housing Stock Performance

Shares of LEGH opened at $26.57 on Friday. The company has a market capitalization of $646.08 million, a price-to-earnings ratio of 12.53 and a beta of 1.08. Legacy Housing Co. has a 52-week low of $17.67 and a 52-week high of $29.31. The company has a quick ratio of 3.41, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $26.87 and a 200 day moving average price of $23.96.

Legacy Housing (NASDAQ:LEGH) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. Legacy Housing had a net margin of 32.17% and a return on equity of 12.25%. The firm had revenue of $42.50 million for the quarter, compared to analyst estimates of $46.35 million. During the same period last year, the business earned $0.60 EPS. Research analysts predict that Legacy Housing Co. will post 2.55 EPS for the current fiscal year.

Institutional Trading of Legacy Housing

A number of large investors have recently made changes to their positions in LEGH. Premier Path Wealth Partners LLC boosted its holdings in shares of Legacy Housing by 2.3% in the second quarter. Premier Path Wealth Partners LLC now owns 47,783 shares of the company’s stock valued at $1,096,000 after acquiring an additional 1,083 shares during the period. Innealta Capital LLC acquired a new stake in Legacy Housing during the 2nd quarter worth $28,000. Gabelli Funds LLC boosted its stake in Legacy Housing by 3.5% during the 4th quarter. Gabelli Funds LLC now owns 47,327 shares of the company’s stock worth $1,194,000 after purchasing an additional 1,600 shares during the period. Empowered Funds LLC grew its position in Legacy Housing by 5.0% during the 1st quarter. Empowered Funds LLC now owns 36,902 shares of the company’s stock worth $794,000 after purchasing an additional 1,767 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Legacy Housing by 1.1% in the second quarter. American Century Companies Inc. now owns 180,736 shares of the company’s stock valued at $4,146,000 after purchasing an additional 2,014 shares during the period. 89.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on LEGH shares. CJS Securities began coverage on Legacy Housing in a research note on Friday, June 7th. They set an “outperform” rating and a $33.00 target price for the company. Wedbush reaffirmed an “outperform” rating and issued a $29.00 target price on shares of Legacy Housing in a report on Friday, August 9th. Finally, B. Riley reiterated a “neutral” rating and set a $29.00 price target (up previously from $25.00) on shares of Legacy Housing in a report on Monday, August 12th.

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.