Robotti Robert Raises Stock Position in Legacy Housing Corporation $LEGH

Key Points

• Robotti Robert has increased its holdings in Legacy Housing Corporation (NASDAQ:LEGH) by 72.8%, owning 221,304 shares with a total value of around $5.58 million.
• Other significant institutional investors, including Voss Capital and Advisory Research, have also raised their stakes in Legacy Housing, contributing to 89.35% of the company's shares being owned by institutional investors.
• Legacy Housing reported earnings of $0.60 EPS for the last quarter, exceeding analysts' expectations, with revenues reaching $50.20 million, surpassing the estimated $43.53 million.

Robotti Robert increased its position in shares of Legacy Housing Corporation (NASDAQ:LEGH - Free Report) by 72.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,304 shares of the company's stock after purchasing an additional 93,234 shares during the period. Legacy Housing accounts for approximately 1.1% of Robotti Robert's portfolio, making the stock its 22nd largest position. Robotti Robert owned 0.92% of Legacy Housing worth $5,581,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LEGH. Teacher Retirement System of Texas acquired a new stake in shares of Legacy Housing during the first quarter worth about $698,000. GAMMA Investing LLC boosted its stake in shares of Legacy Housing by 6,650.0% during the first quarter. GAMMA Investing LLC now owns 2,295 shares of the company's stock worth $58,000 after buying an additional 2,261 shares during the period. Bfsg LLC acquired a new stake in shares of Legacy Housing during the first quarter worth about $2,245,000. Rock Creek Group LP boosted its stake in shares of 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 buying an additional 70,000 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of Legacy Housing by 11.8% during the first quarter. Cerity Partners LLC now owns 117,825 shares of the company's stock worth $2,972,000 after buying an additional 12,406 shares during the period. Institutional investors and hedge funds own 89.35% of the company's stock.

Legacy Housing Stock Up 1.4%

NASDAQ LEGH traded up $0.37 during trading hours on Tuesday, hitting $27.00. 13,411 shares of the stock were exchanged, compared to its average volume of 80,243. Legacy Housing Corporation has a 12-month low of $21.58 and a 12-month high of $29.25. The company has a market cap of $644.46 million, a price-to-earnings ratio of 12.05 and a beta of 0.86. The stock has a 50-day moving average of $23.24 and a 200 day moving average of $24.18.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last issued 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 11.11%. The company had revenue of $50.20 million during the quarter, compared to analysts' expectations of $43.53 million.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LEGH shares. B. Riley started coverage on shares of Legacy Housing in a research note on Friday, May 16th. They set a "neutral" rating and a $26.00 target price for the company. Wall Street Zen upgraded shares of 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.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.