Bard Associates Inc. Purchases New Position in Legacy Housing Corporation $LEGH

Key Points

• Bard Associates acquired 179,679 shares of Legacy Housing in the second quarter, valued at approximately $4.72 million and representing 0.76% of the company. Institutional investors and hedge funds collectively own 89.35% of LEGH.
• Analyst sentiment is mostly neutral: four analysts rate the stock a Hold, with a consensus price target of $21.00. Recent rating changes included downgrades from Zacks Research and Wall Street Zen.
• Legacy Housing exceeded quarterly expectations, reporting $0.99 EPS versus the $0.72 estimate and revenue of $66.35 million versus $64.08 million expected. Shares opened at $28.63, within a 52-week range of $18.28 to $31.34.

Bard Associates Inc. purchased a new stake in Legacy Housing Corporation (NASDAQ:LEGH - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 179,679 shares of the company's stock, valued at approximately $4,720,000. Legacy Housing accounts for 1.0% of Bard Associates Inc.'s portfolio, making the stock its 29th largest holding. Bard Associates Inc. owned about 0.76% of Legacy Housing as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in Legacy Housing by 7.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 955,771 shares of the company's stock worth $19,526,000 after buying an additional 62,224 shares in the last quarter. Advisory Research Inc. raised its position in Legacy Housing by 11.0% in the 4th quarter. Advisory Research Inc. now owns 730,944 shares of the company's stock worth $14,268,000 after purchasing an additional 72,573 shares during the last quarter. GW&K Investment Management LLC raised its position in Legacy Housing by 6.0% in the 4th quarter. GW&K Investment Management LLC now owns 701,364 shares of the company's stock worth $13,691,000 after purchasing an additional 39,846 shares during the last quarter. BlackRock Inc. acquired a new position in Legacy Housing during the 2nd quarter worth $16,714,000. Finally, Punch & Associates Investment Management Inc. lifted its holdings in Legacy Housing by 2.3% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 429,110 shares of the company's stock worth $11,805,000 after buying an additional 9,590 shares in the last quarter. 89.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Legacy Housing Price Performance

Shares of NASDAQ LEGH opened at $28.63 on Friday. The stock has a market capitalization of $680.82 million, a PE ratio of 13.19 and a beta of 0.78. The business has a fifty day moving average price of $26.70 and a two-hundred day moving average price of $23.38. Legacy Housing Corporation has a fifty-two week low of $18.28 and a fifty-two week high of $31.34.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $66.35 million for the quarter, compared to analysts' expectations of $64.08 million. On average, equities analysts expect that Legacy Housing Corporation will post 2.32 EPS for the current 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.

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