Legacy Housing Corporation (NASDAQ:LEGH) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP has reduced its stake in Legacy Housing Corporation by 22.5%, now holding 318,166 shares after selling 92,429 shares in the first quarter.
• Legacy Housing's stock price opened at $22.75, with a market cap of $548.73 million and achieving a one-year high of $29.31.
• Analysts have set a new target price of $26.00 for Legacy Housing, transitioning some ratings from "sell" to "hold" following recent performance observations.

Royce & Associates LP trimmed its holdings in Legacy Housing Corporation (NASDAQ:LEGH - Free Report) by 22.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 318,166 shares of the company's stock after selling 92,429 shares during the period. Royce & Associates LP owned 1.32% of Legacy Housing worth $8,024,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LEGH. Aquatic Capital Management LLC acquired a new stake in shares of Legacy Housing in the 4th quarter worth $33,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Legacy Housing in the 4th quarter worth $49,000. GAMMA Investing LLC lifted its stake in shares of Legacy Housing by 6,650.0% in the 1st quarter. GAMMA Investing LLC now owns 2,295 shares of the company's stock worth $58,000 after acquiring an additional 2,261 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Legacy Housing by 22.2% in 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 period. Finally, MetLife Investment Management LLC lifted its stake in shares of Legacy Housing by 18.5% in the 4th quarter. MetLife Investment Management LLC now owns 6,924 shares of the company's stock worth $171,000 after acquiring an additional 1,081 shares during the period. 89.35% of the stock is owned by hedge funds and other institutional investors.

Legacy Housing Stock Up 0.2%

Shares of NASDAQ LEGH traded up $0.04 during midday trading on Wednesday, hitting $22.76. The company had a trading volume of 1,161 shares, compared to its average volume of 81,878. Legacy Housing Corporation has a twelve month low of $21.58 and a twelve month high of $29.31. The business has a 50-day simple moving average of $22.59 and a two-hundred day simple moving average of $24.22. The firm has a market capitalization of $548.85 million, a price-to-earnings ratio of 9.94 and a beta of 0.83.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.16). The company had revenue of $35.70 million during the quarter, compared to analyst estimates of $44.13 million. Legacy Housing had a net margin of 32.15% and a return on equity of 11.71%.

Analyst Ratings Changes

Several research firms have recently commented on LEGH. B. Riley began coverage on shares of Legacy Housing in a research note on Friday, May 16th. They issued 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.

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.