Legacy Housing Corporation (NASDAQ:LEGH) Shares Acquired by Rock Creek Group LP

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 increased its holdings in Legacy Housing Corporation (NASDAQ:LEGH - Free Report) by 233.3% in the first quarter, according to its most recent filing with the Securities and 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 about 0.3% of Rock Creek Group LP's holdings, making the stock its 19th largest holding. Rock Creek Group LP owned 0.41% of Legacy Housing worth $2,522,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LEGH. Advisory Research Inc. raised its holdings in Legacy Housing by 34.0% in the 4th quarter. Advisory Research Inc. now owns 472,935 shares of the company's stock worth $11,672,000 after purchasing an additional 120,000 shares during the period. Bfsg LLC acquired a new position in shares of Legacy Housing during the first quarter valued at approximately $2,245,000. Vanguard Group Inc. raised its holdings in shares of Legacy Housing by 14.9% during the fourth quarter. Vanguard Group Inc. now owns 623,287 shares of the company's stock valued at $15,383,000 after acquiring an additional 80,982 shares during the last quarter. Voss Capital LP raised its holdings in shares of Legacy Housing by 8.7% during the fourth quarter. Voss Capital LP now owns 928,599 shares of the company's stock valued at $22,918,000 after acquiring an additional 74,087 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Legacy Housing by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 713,928 shares of the company's stock valued at $17,619,000 after acquiring an additional 48,268 shares during the last quarter. Institutional investors and hedge funds own 89.35% of the company's stock.

Legacy Housing Stock Down 0.8%

Shares of Legacy Housing stock traded down $0.22 during mid-day trading on Friday, reaching $26.74. 71,279 shares of the stock traded hands, compared to its average volume of 60,906. The business has a 50-day moving average of $23.15 and a 200 day moving average of $24.19. Legacy Housing Corporation has a fifty-two week low of $21.58 and a fifty-two week high of $29.25. The stock has a market capitalization of $638.26 million, a PE ratio of 11.94 and a beta of 0.86.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last posted its quarterly 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 firm had revenue of $50.20 million during the quarter, compared to analysts' expectations of $43.53 million.

Analyst Ratings Changes

LEGH has been the subject of a number of research analyst reports. Wall Street Zen raised Legacy Housing from a "sell" rating to a "hold" rating in a report on Monday, June 30th. B. Riley initiated coverage on Legacy Housing in a report on Friday, May 16th. They set a "neutral" rating and a $26.00 target price for the company.

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.