Voss Capital LP Lowers Position in Legacy Housing Corporation $LEGH

Key Points

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Voss Capital LP cut its holdings in shares of Legacy Housing Corporation (NASDAQ:LEGH - Free Report) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 851,211 shares of the company's stock after selling 77,388 shares during the quarter. Legacy Housing comprises approximately 1.6% of Voss Capital LP's investment portfolio, making the stock its 19th biggest position. Voss Capital LP owned 3.53% of Legacy Housing worth $21,468,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Aquatic Capital Management LLC purchased a new position in shares of Legacy Housing during the 4th quarter worth $33,000. GAMMA Investing LLC grew its holdings in shares of Legacy Housing by 6,650.0% during the 1st quarter. GAMMA Investing LLC now owns 2,295 shares of the company's stock worth $58,000 after purchasing an additional 2,261 shares during the period. Quantbot Technologies LP purchased a new position in shares of Legacy Housing during the 1st quarter worth $116,000. Wells Fargo & Company MN grew its holdings in shares of Legacy Housing by 22.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,581 shares of the company's stock worth $162,000 after purchasing an additional 1,195 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in shares of Legacy Housing by 18.5% during the 4th quarter. MetLife Investment Management LLC now owns 6,924 shares of the company's stock worth $171,000 after purchasing an additional 1,081 shares during the period. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Legacy Housing Price Performance

Shares of Legacy Housing stock opened at $26.63 on Tuesday. The business has a 50-day moving average of $23.24 and a 200 day moving average of $24.18. Legacy Housing Corporation has a 12 month low of $21.58 and a 12 month high of $29.25. The stock has a market capitalization of $635.66 million, a price-to-earnings ratio of 11.89 and a beta of 0.86.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.05. Legacy Housing had a return on equity of 11.11% and a net margin of 30.00%. The company had revenue of $50.20 million during the quarter, compared to analysts' expectations of $43.53 million.

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.

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