Nuveen LLC Buys New Position in Legacy Housing Corporation $LEGH

Key Points

• Nuveen LLC has acquired 21,594 shares of Legacy Housing Corporation (NASDAQ:LEGH), valued at approximately $545,000, increasing its ownership to about 0.09% of the company.
• Legacy Housing's stocks rose by 2.4%, with current trading around $28.20, while the company recently reported earnings that exceeded analysts' expectations with an EPS of $0.60.
• Several analysts upgraded Legacy Housing's stock rating to "hold," while the average target price is set at $26.00.

Nuveen LLC acquired a new position in shares of Legacy Housing Corporation (NASDAQ:LEGH - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,594 shares of the company's stock, valued at approximately $545,000. Nuveen LLC owned 0.09% of Legacy Housing as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Koss Olinger Consulting LLC purchased a new position in Legacy Housing in the 1st quarter valued at $658,000. GW&K Investment Management LLC increased its holdings in Legacy Housing by 2.0% in the 1st quarter. GW&K Investment Management LLC now owns 686,414 shares of the company's stock valued at $17,311,000 after purchasing an additional 13,720 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Legacy Housing by 11.8% in the first quarter. Cerity Partners LLC now owns 117,825 shares of the company's stock valued at $2,972,000 after buying an additional 12,406 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Legacy Housing during the first quarter worth about $698,000. Finally, Bfsg LLC purchased a new stake in Legacy Housing during the 1st quarter worth approximately $2,245,000. 89.35% of the stock is owned by hedge funds and other institutional investors.

Legacy Housing Stock Performance

LEGH traded down $0.30 on Wednesday, hitting $27.08. 45,931 shares of the company were exchanged, compared to its average volume of 74,992. Legacy Housing Corporation has a fifty-two week low of $21.58 and a fifty-two week high of $29.45. The firm has a market capitalization of $646.40 million, a P/E ratio of 12.09 and a beta of 0.85. The business's fifty day moving average is $25.05 and its 200 day moving average is $24.31.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. The firm had revenue of $50.20 million during the quarter, compared to analysts' expectations of $43.53 million. Legacy Housing had a return on equity of 11.11% and a net margin of 30.00%.

Analyst Upgrades and Downgrades

LEGH has been the topic of several recent research reports. B. Riley assumed coverage on Legacy Housing in a report on Friday, May 16th. They set a "neutral" rating and a $26.00 price target on the stock. Wall Street Zen raised shares of Legacy Housing from a "sell" rating to a "hold" rating in a research report on Monday, June 30th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $26.00.

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.