Hotchkis & Wiley Capital Management LLC Has $6.25 Million Position in Legacy Housing Corporation $LEGH

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Legacy Housing Corporation by 93.7%, now owning 247,770 shares valued at approximately $6.25 million.
• Other institutional investors have also shown significant interest, with GAMMA Investing LLC increasing its position by 6,650% and the Teacher Retirement System of Texas acquiring shares valued at $698,000.
• Legacy Housing's stock performance includes a recent quarterly earnings beat with an EPS of $0.60, surpassing expectations, and the company holds an average price target of $26.00 from analysts.

Hotchkis & Wiley Capital Management LLC increased its stake in shares of Legacy Housing Corporation (NASDAQ:LEGH - Free Report) by 93.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,770 shares of the company's stock after purchasing an additional 119,870 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 1.03% of Legacy Housing worth $6,249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEGH. Boston Partners lifted its holdings in Legacy Housing by 543.2% during the first quarter. Boston Partners now owns 116,089 shares of the company's stock worth $2,928,000 after acquiring an additional 98,040 shares in the last quarter. Robotti Robert lifted its holdings in Legacy Housing by 72.8% during the first quarter. Robotti Robert now owns 221,304 shares of the company's stock worth $5,581,000 after acquiring an additional 93,234 shares in the last quarter. Bfsg LLC bought a new position in Legacy Housing during the first quarter worth about $2,245,000. Rock Creek Group LP lifted its holdings in Legacy Housing by 233.3% during the first quarter. Rock Creek Group LP now owns 100,000 shares of the company's stock worth $2,522,000 after acquiring an additional 70,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Legacy Housing by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 713,928 shares of the company's stock valued at $17,619,000 after purchasing an additional 48,268 shares in the last quarter. 89.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Legacy Housing Stock Down 0.1%

Shares of Legacy Housing stock traded down $0.02 on Friday, hitting $27.94. The stock had a trading volume of 65,605 shares, compared to its average volume of 67,717. Legacy Housing Corporation has a twelve month low of $21.58 and a twelve month high of $29.25. The business's 50 day moving average is $24.26 and its two-hundred day moving average is $24.23. The stock has a market cap of $666.93 million, a price-to-earnings ratio of 12.47 and a beta of 0.85.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. Legacy Housing had a return on equity of 11.11% and a net margin of 30.00%.The company had revenue of $50.20 million for the quarter, compared to the consensus estimate of $43.53 million.

About Legacy Housing

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.