Legacy Housing (NASDAQ:LEGH) Shares Gap Up – Should You Buy?

Legacy Housing Co. (NASDAQ:LEGH)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $26.70, but opened at $27.26. Legacy Housing shares last traded at $27.02, with a volume of 638 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wedbush restated an “outperform” rating and issued a $29.00 price target on shares of Legacy Housing in a report on Friday, August 9th. B. Riley restated a “neutral” rating and issued a $29.00 target price (up from $25.00) on shares of Legacy Housing in a research note on Monday, August 12th.

Legacy Housing Trading Down 0.7 %

The company has a market capitalization of $665.29 million, a P/E ratio of 12.86 and a beta of 1.08. The business has a fifty day moving average of $26.76 and a 200-day moving average of $24.34. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.41 and a current ratio of 4.39.

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

Insider Buying and Selling

In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 13,387 shares of Legacy Housing stock in a transaction on Monday, August 26th. The shares were sold at an average price of $27.73, for a total transaction of $371,221.51. Following the transaction, the chairman now directly owns 684,486 shares of the company’s stock, valued at $18,980,796.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 124,727 shares of company stock worth $3,348,278. 32.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Legacy Housing

Institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC bought a new position in Legacy Housing during the third quarter worth about $292,000. SG Americas Securities LLC bought a new stake in shares of Legacy Housing during the 3rd quarter valued at about $121,000. Squarepoint Ops LLC purchased a new position in Legacy Housing in the 2nd quarter worth approximately $397,000. Progeny 3 Inc. bought a new position in shares of Legacy Housing in the 2nd quarter worth $1,019,000. Finally, Marshall Wace LLP bought a new position in shares of Legacy Housing in the 2nd quarter worth $375,000. 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.