Teton Advisors Inc. Cuts Stock Position in Legacy Housing Corporation $LEGH

Key Points

• Teton Advisors Inc. reduced its stake in Legacy Housing Corporation by 18.2%, now holding 45,000 shares valued at approximately $1.13 million.
• Other institutional investors have significantly increased their positions, with Boston Partners raising its stake by 543.2%, amounting to a total of 116,089 shares.
• Legacy Housing's stock has a market cap of $662.87 million and reported a quarterly earnings per share of $0.60, surpassing the consensus estimate of $0.55.

Teton Advisors Inc. cut its holdings in Legacy Housing Corporation (NASDAQ:LEGH - Free Report) by 18.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,000 shares of the company's stock after selling 10,000 shares during the quarter. Teton Advisors Inc. owned 0.19% of Legacy Housing worth $1,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC raised its position in shares of Legacy Housing by 93.7% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 247,770 shares of the company's stock valued at $6,249,000 after buying an additional 119,870 shares during the last quarter. Boston Partners increased its holdings in Legacy Housing by 543.2% during the first quarter. Boston Partners now owns 116,089 shares of the company's stock valued at $2,928,000 after buying an additional 98,040 shares during the period. Robotti Robert boosted its position in shares of Legacy Housing by 72.8% in the 1st quarter. Robotti Robert now owns 221,304 shares of the company's stock worth $5,581,000 after purchasing an additional 93,234 shares in the last quarter. Bfsg LLC acquired a new stake in shares of Legacy Housing during the first quarter worth $2,245,000. Finally, Rock Creek Group LP boosted its holdings in shares of Legacy Housing by 233.3% in the 1st quarter. Rock Creek Group LP now owns 100,000 shares of the company's stock valued at $2,522,000 after acquiring an additional 70,000 shares during the last quarter. Hedge funds and other institutional investors own 89.35% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LEGH shares. Wall Street Zen raised 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 price target for the company. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Legacy Housing has a consensus rating of "Hold" and a consensus price target of $26.00.

Legacy Housing Price Performance

Shares of LEGH stock opened at $27.77 on Tuesday. The firm has a market cap of $662.87 million, a P/E ratio of 12.40 and a beta of 0.86. The firm has a fifty day moving average of $23.77 and a two-hundred day moving average of $24.23. Legacy Housing Corporation has a 1-year low of $21.58 and a 1-year high of $29.25.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.05. Legacy Housing had a net margin of 30.00% and a return on equity of 11.11%. The firm had revenue of $50.20 million for the quarter, compared to the consensus estimate of $43.53 million.

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.

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