Koss Olinger Consulting LLC Invests $658,000 in Legacy Housing Corporation (NASDAQ:LEGH)

Key Points

• Koss Olinger Consulting LLC invested approximately $658,000 in Legacy Housing Corporation (NASDAQ:LEGH) by purchasing 26,075 shares in the 1st quarter.
• Legacy Housing reported $0.60 earnings per share for the last quarter, exceeding analysts' expectations of $0.55, with revenue of $50.20 million.
• A significant 89.35% of Legacy Housing's stock is owned by institutional investors, reflecting strong interest from hedge funds and asset managers.

Koss Olinger Consulting LLC purchased a new position in shares of Legacy Housing Corporation (NASDAQ:LEGH - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 26,075 shares of the company's stock, valued at approximately $658,000. Koss Olinger Consulting LLC owned approximately 0.11% of Legacy Housing as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LEGH. KLP Kapitalforvaltning AS bought a new stake in Legacy Housing during the 4th quarter worth about $49,000. Vanguard Group Inc. grew its holdings in Legacy Housing by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 623,287 shares of the company's stock worth $15,383,000 after acquiring an additional 80,982 shares during the last quarter. Geode Capital Management LLC grew its holdings in Legacy Housing by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 271,125 shares of the company's stock worth $6,693,000 after acquiring an additional 1,800 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in Legacy Housing during the 4th quarter worth about $299,000. Finally, Wells Fargo & Company MN grew its holdings in Legacy Housing by 22.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,581 shares of the company's stock worth $162,000 after acquiring an additional 1,195 shares during the last quarter. Institutional investors own 89.35% of the company's stock.

Legacy Housing Trading Up 3.8%

Legacy Housing stock opened at $24.49 on Friday. Legacy Housing Corporation has a 1 year low of $21.58 and a 1 year high of $29.25. The company has a market cap of $590.70 million, a PE ratio of 10.93 and a beta of 0.86. The company's 50-day moving average is $22.73 and its two-hundred day moving average is $24.15.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.05. Legacy Housing had a net margin of 30.00% and a return on equity of 11.23%. The company had revenue of $50.20 million for the quarter, compared to the consensus estimate of $43.53 million.

Analyst Ratings Changes

A number of brokerages have commented on LEGH. B. Riley began coverage on shares of Legacy Housing in a report on Friday, May 16th. They set a "neutral" rating and a $26.00 price objective on the stock. Wall Street Zen raised shares of Legacy Housing from a "sell" rating to a "hold" rating in a report on Monday, June 30th.

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.

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