Legacy Housing Corporation $LEGH Position Increased by Boston Partners

Key Points

• Boston Partners increased its stake in Legacy Housing Corporation (NASDAQ:LEGH) by 543.2% during the first quarter, owning approximately 116,089 shares valued at $2.93 million by quarter's end.
• Legacy Housing reported a quarterly earnings per share (EPS) of $0.60, exceeding the consensus estimate by $0.05 and achieving revenue of $50.20 million, above expected figures.
• Analysts have mixed ratings for Legacy Housing, with a recent upgrade from a "sell" to a "hold" by Wall Street Zen and a price objective of $26.00 set by B. Riley.

Boston Partners raised its position in shares of Legacy Housing Corporation (NASDAQ:LEGH - Free Report) by 543.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 116,089 shares of the company's stock after purchasing an additional 98,040 shares during the quarter. Boston Partners owned about 0.48% of Legacy Housing worth $2,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in Legacy Housing during the 1st quarter valued at $698,000. GAMMA Investing LLC boosted its stake in Legacy Housing by 6,650.0% during the 1st quarter. GAMMA Investing LLC now owns 2,295 shares of the company's stock valued at $58,000 after purchasing an additional 2,261 shares in the last quarter. Bfsg LLC bought a new position in Legacy Housing during the 1st quarter valued at $2,245,000. Rock Creek Group LP boosted its stake in Legacy Housing by 233.3% during the 1st quarter. Rock Creek Group LP now owns 100,000 shares of the company's stock valued at $2,522,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in Legacy Housing by 11.8% during the 1st quarter. Cerity Partners LLC now owns 117,825 shares of the company's stock valued at $2,972,000 after purchasing an additional 12,406 shares in the last quarter. 89.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LEGH. B. Riley began coverage on Legacy Housing in a research note on Friday, May 16th. They set a "neutral" rating and a $26.00 price target for the company. Wall Street Zen raised Legacy Housing from a "sell" rating to a "hold" rating in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $26.00.

Legacy Housing Price Performance

Shares of LEGH traded up $1.01 during trading hours on Friday, hitting $28.72. 39,150 shares of the company were exchanged, compared to its average volume of 79,956. The company has a market capitalization of $685.55 million, a PE ratio of 12.82 and a beta of 0.86. The firm has a fifty day simple moving average of $23.53 and a 200-day simple moving average of $24.23. Legacy Housing Corporation has a one year low of $21.58 and a one year high of $29.25.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.55 by $0.05. The business 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%.

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.