BlackRock Inc. purchased a new stake in Legacy Housing Corporation (NASDAQ:LEGH - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 636,227 shares of the company's stock, valued at approximately $16,714,000. BlackRock Inc. owned 2.68% of Legacy Housing at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of Legacy Housing by 21.9% during the 1st quarter. Royal Bank of Canada now owns 105,440 shares of the company's stock valued at $2,659,000 after acquiring an additional 18,920 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Legacy Housing by 4.2% during the first quarter. Goldman Sachs Group Inc. now owns 54,434 shares of the company's stock worth $1,373,000 after purchasing an additional 2,214 shares during the period. Jane Street Group LLC bought a new position in Legacy Housing during the first quarter worth about $570,000. Strs Ohio acquired a new stake in Legacy Housing during the first quarter valued at approximately $124,000. Finally, Legal & General Group Plc boosted its holdings in Legacy Housing by 15.7% during the second quarter. Legal & General Group Plc now owns 8,958 shares of the company's stock valued at $203,000 after purchasing an additional 1,216 shares in the last quarter. 89.35% of the stock is owned by institutional investors.
Legacy Housing Trading Up 0.4%
Shares of Legacy Housing stock opened at $27.89 on Friday. The stock has a market capitalization of $663.22 million, a price-to-earnings ratio of 12.85 and a beta of 0.78. Legacy Housing Corporation has a 1-year low of $18.28 and a 1-year high of $31.34. The firm's 50-day moving average price is $27.30 and its two-hundred day moving average price is $23.84.
Legacy Housing (NASDAQ:LEGH - Get Free Report) last posted its earnings results 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 company had revenue of $66.35 million during the quarter, compared to analysts' expectations of $64.08 million. As a group, equities research analysts predict that Legacy Housing Corporation will post 2.32 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on LEGH. Zacks Research cut Legacy Housing from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Wall Street Zen raised Legacy Housing from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 29th. Weiss Ratings upgraded Legacy Housing from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. Finally, B. Riley Financial reiterated a "neutral" rating on shares of Legacy Housing in a research note on Thursday, May 14th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Legacy Housing has a consensus rating of "Hold" and an average target price of $21.00.
Read Our Latest Analysis on Legacy Housing
About Legacy Housing
(
Free Report)
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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