Legacy Housing Corporation $LEGH Position Increased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Legacy Housing Corporation by 90.5%, owning approximately 59,949 shares valued at about $1.5 million at the end of the first quarter.
• Legacy Housing reported a quarterly earnings per share of $0.60, exceeding analyst expectations of $0.55, with revenues reaching $50.20 million against estimates of $43.53 million.
• The stock has a market capitalization of $666.21 million, with a recent trading price around $27.91, which is within a twelve-month range of $21.58 to $29.25.

Russell Investments Group Ltd. boosted its stake in Legacy Housing Corporation (NASDAQ:LEGH - Free Report) by 90.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,949 shares of the company's stock after acquiring an additional 28,475 shares during the period. Russell Investments Group Ltd. owned 0.25% of Legacy Housing worth $1,512,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new stake in Legacy Housing in the fourth quarter valued at $33,000. GAMMA Investing LLC raised its holdings in Legacy Housing by 6,650.0% in the first quarter. GAMMA Investing LLC now owns 2,295 shares of the company's stock valued at $58,000 after acquiring an additional 2,261 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Legacy Housing by 22.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,581 shares of the company's stock valued at $162,000 after acquiring an additional 1,195 shares in the last quarter. MetLife Investment Management LLC increased its stake in Legacy Housing by 18.5% during the fourth quarter. MetLife Investment Management LLC now owns 6,924 shares of the company's stock valued at $171,000 after purchasing an additional 1,081 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Legacy Housing by 42.6% during the fourth quarter. BNP Paribas Financial Markets now owns 7,985 shares of the company's stock valued at $197,000 after purchasing an additional 2,385 shares during the last quarter. 89.35% of the stock is owned by institutional investors and hedge funds.

Legacy Housing Stock Performance

NASDAQ LEGH traded down $0.02 on Monday, reaching $27.94. The company's 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 stock has a market cap of $666.93 million, a PE ratio of 12.47 and a beta of 0.85. The firm's 50 day moving average is $24.26 and its two-hundred day moving average is $24.23.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.60 earnings per share 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 11.11%. The company had revenue of $50.20 million during the quarter, compared to the consensus estimate of $43.53 million.

Wall Street Analyst Weigh In

LEGH has been the subject of several recent research reports. Wall Street Zen upgraded shares of Legacy Housing from a "sell" rating to a "hold" rating in a research note on Monday, June 30th. B. Riley began coverage on shares of Legacy Housing in a research report on Friday, May 16th. They issued a "neutral" rating and a $26.00 target price for the company. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $26.00.

Legacy Housing 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.