79,263 Legacy Housing Corporation $LEGH Shares Sold by Crown Wealth Group LLC

Key Points

• Crown Wealth Group cut its Legacy Housing stake by 73.4%, selling 79,263 shares and retaining 28,737 shares worth approximately $824,000. Institutional investors still own 89.35% of the company.
• Legacy Housing shares fell 2.9% to $26.59, while the stock remains within its 52-week range of $18.28 to $31.34. The company reported quarterly earnings of $0.99 per share, beating estimates of $0.72, with revenue of $66.35 million.
• Analyst sentiment is mixed but centered on a “Hold” rating, with four analysts maintaining Hold recommendations and a consensus price target of $21.00.

Crown Wealth Group LLC lowered its stake in Legacy Housing Corporation (NASDAQ:LEGH - Free Report) by 73.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,737 shares of the company's stock after selling 79,263 shares during the quarter. Crown Wealth Group LLC owned about 0.12% of Legacy Housing worth $824,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc acquired a new position in Legacy Housing in the second quarter valued at about $149,000. State of Wyoming bought a new position in Legacy Housing during the second quarter worth about $169,000. Lee Financial Co acquired a new position in shares of Legacy Housing during the 3rd quarter worth about $218,000. GSA Capital Partners LLP acquired a new position in shares of Legacy Housing during the 2nd quarter worth about $204,000. Finally, Deutsche Bank AG acquired a new position in shares of Legacy Housing during the 2nd quarter worth about $230,000. 89.35% of the stock is currently owned by institutional investors.

Legacy Housing Stock Down 2.9%

Shares of LEGH traded down $0.80 during trading hours on Monday, reaching $26.59. The stock had a trading volume of 74,229 shares, compared to its average volume of 97,352. Legacy Housing Corporation has a 52 week low of $18.28 and a 52 week high of $31.34. The firm has a 50-day moving average of $28.31 and a 200 day moving average of $25.51. The company has a market cap of $632.31 million, a P/E ratio of 12.25 and a beta of 0.75.

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

Analysts Set New Price Targets

LEGH has been the topic of a number of analyst reports. Zacks Research downgraded shares of Legacy Housing from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Legacy Housing from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 29th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Legacy Housing in a report on Tuesday, October 6th. Four equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Legacy Housing has an average rating of "Hold" and a consensus target price of $21.00.

Legacy Housing Company Profile

Legacy Housing Corporation NASDAQ: LEGH is a manufactured housing company that designs, builds and sells factory-built homes in the United States. Its products include single-section and multi-section manufactured homes intended for residential use, as well as homes serving housing developers, independent retailers and other institutional customers.

The company distributes its homes through a combination of wholesale channels, company-owned retail locations and independent dealers. Legacy Housing also provides financing solutions for certain homebuyers and customers and has been involved in the development and operation of manufactured housing communities.

Want to see what other hedge funds are holding LEGH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Legacy Housing Corporation (NASDAQ:LEGH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.