Legacy Housing (NASDAQ:LEGH) Sees Large Volume Increase - What's Next?

Shares of Legacy Housing Co. (NASDAQ:LEGH - Get Free Report) saw unusually-high trading volume on Monday . Approximately 46,153 shares were traded during mid-day trading, a decline of 33% from the previous session's volume of 69,240 shares.The stock last traded at $24.56 and had previously closed at $24.89.

Legacy Housing Trading Up 3.8 %

The firm's 50-day moving average price is $24.74 and its 200 day moving average price is $25.30. The company has a market cap of $608.53 million, a price-to-earnings ratio of 11.62 and a beta of 0.91.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last issued its earnings results on Wednesday, March 12th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.07. Legacy Housing had a return on equity of 11.85% and a net margin of 33.11%. The company had revenue of $54.19 million for the quarter, compared to analysts' expectations of $44.59 million.

Hedge Funds Weigh In On Legacy Housing

Hedge funds have recently bought and sold shares of the company. Aquatic Capital Management LLC bought a new position in Legacy Housing during the fourth quarter valued at about $33,000. KLP Kapitalforvaltning AS purchased a new position in Legacy Housing in the fourth quarter valued at about $49,000. GAMMA Investing LLC grew its position 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 valued at $58,000 after acquiring an additional 2,261 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Legacy Housing by 11.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,423 shares of the company's stock worth $148,000 after purchasing an additional 543 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings 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 purchasing an additional 1,195 shares during the period. 89.35% of the stock is owned by hedge funds and other institutional investors.

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.