Rock Creek Group LP Acquires 70,000 Shares of Legacy Housing Corporation (NASDAQ:LEGH)

Key Points

• Rock Creek Group LP increased its holdings in Legacy Housing Corporation by 233.3% during the first quarter, now owning 100,000 shares valued at approximately $2.5 million.
• Legacy Housing reported earnings of $0.60 per share, surpassing estimates, with revenue of $50.2 million for the quarter, well above expectations of $43.53 million.
• Wall Street analysts have issued mixed ratings on Legacy Housing, with some upgrades including a move from a "sell" to a "hold" rating, indicating a cautious optimism about the company's prospects.

Rock Creek Group LP lifted its position in shares of Legacy Housing Corporation (NASDAQ:LEGH - Free Report) by 233.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,000 shares of the company's stock after purchasing an additional 70,000 shares during the quarter. Legacy Housing accounts for 0.3% of Rock Creek Group LP's investment portfolio, making the stock its 19th largest holding. Rock Creek Group LP owned 0.41% of Legacy Housing worth $2,522,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LEGH. Advisory Research Inc. raised its position in Legacy Housing by 34.0% in the 4th quarter. Advisory Research Inc. now owns 472,935 shares of the company's stock valued at $11,672,000 after buying an additional 120,000 shares during the last quarter. Bfsg LLC purchased a new stake in Legacy Housing in the 1st quarter valued at $2,245,000. Vanguard Group Inc. raised its position in Legacy Housing by 14.9% in the 4th quarter. Vanguard Group Inc. now owns 623,287 shares of the company's stock valued at $15,383,000 after buying an additional 80,982 shares during the last quarter. Voss Capital LP raised its position in Legacy Housing by 8.7% in the 4th quarter. Voss Capital LP now owns 928,599 shares of the company's stock valued at $22,918,000 after buying an additional 74,087 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Legacy Housing by 7.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 713,928 shares of the company's stock valued at $17,619,000 after buying an additional 48,268 shares during the last quarter. 89.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LEGH shares. Wall Street Zen raised Legacy Housing from a "sell" rating to a "hold" rating in a research report on Monday, June 30th. B. Riley started coverage on Legacy Housing in a research report on Friday, May 16th. They issued a "neutral" rating and a $26.00 price target for the company.

Legacy Housing Stock Down 0.0%

NASDAQ LEGH traded down $0.01 on Thursday, reaching $26.96. The company had a trading volume of 74,023 shares, compared to its average volume of 59,377. The stock has a market capitalization of $643.54 million, a P/E ratio of 12.04 and a beta of 0.86. The company's fifty day moving average is $23.05 and its 200 day moving average is $24.18. Legacy Housing Corporation has a 52-week low of $21.58 and a 52-week high of $29.25.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $50.20 million during the quarter, compared to the consensus estimate of $43.53 million. Legacy Housing had a return on equity of 11.11% and a net margin of 30.00%.

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.